Ore Resources (ASX:OR3) has this week formally started its 1,000-metre diamond drilling program at Forrest at the Coolgardie Gold Project, with the explorer looking for “valuable insights” across the Eastern Goldfields site’s structural and lithological controls as it prepares to test deeper extensions.
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The move marks a technical pivot for Ore as it furthers its “expansive” fourth-phase drilling strategy, with future resource estimations now a key focus.
March works come on the back of 23 holes of RC drilling at Miriam through January and February; those targeted further strike and down-dip extensions and provided pre-collars to support the now-starting diamond drilling.
“This RC drilling has set the stage for the commencement of our maiden gold-focused diamond drilling on the highly prospective Coolgardie,” the explorer’s CEO and managing director, Nick Rathjen, explained.
“Several of the recent RC drill holes were designed as pre-collars for this drilling, which will enable us to test potential deeper extensions at Forrest.
“Now underway, our 1,000-metre diamond drilling programme is further designed to deliver valuable insights on the structural and lithological controls at Forrest, supporting further upgrades to our geological model.”
As for when results should start hitting the ASX wire – Mr Rathjen suggested ground gravity and extensional soil sampling from Miriam North should come in as soon as mid-March, with RC results back soon after.
Sub-audio magnetics survey results will then come in early April, and will be followed by preliminary diamond drilling results a little later that month.
Ore then expects to start AC drilling at regional prospects at the same time. That, Mr Rathjen explained, will “provide first-pass testing on priority regional targets.”
“With a combined 30,000 metres of RC, diamond, and regional aircore drilling planned through remainder of 2026, Ore remains well-positioned to deliver meaningful growth to an already robust gold footprint at Miriam and unlock new gold discoveries across our broader Coolgardie gold tenure,” he declared.
The Market Link understands the Western Australian explorer will be using its $10.7 million cash balance to fund the CY26 programmes. The company has also flagged to shareholders that it carries zero debt right now.
Heading into Thursday, OR3 is selling at 71cps.
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