How Ore Resources’ New Tenement Could Unlock Randalls Gold Potential

Strategic Expansion of Randalls Gold Project

Ore Resources Ltd (ASX – OR3) has taken a decisive step to broaden its footprint in Western Australia's prolific Goldfields by entering into an option agreement to acquire a 100% interest in tenement E25/660. This tenement, currently under application, spans 77.5 square kilometres and lies contiguous to the southern boundary of Ore’s existing Randalls Gold Project tenements.

This acquisition boosts Ore’s strategic landholdings at Randalls to nearly 700 square kilometres, reinforcing the project’s status as a significant exploration opportunity in a region renowned for its gold endowment.

Prospective Geology and Historical Data

The newly targeted tenement overlays the Mount Belches Formation, a geological unit known for hosting Banded Iron Formation (BIF) units that are highly prospective for gold mineralisation. Notably, this formation hosts Vault Minerals’ Mount Belches Mining Centre, which currently boasts a resource of approximately 1.8 million ounces of gold.

Ore’s detailed review of historical drilling data within the new tenement has highlighted three high-priority walk-up drill targets at the Waterloo, Logan, and Nightcrawler prospects. These targets exhibit encouraging gold intercepts, including standout results such as 10 metres at 2.77 grams per tonne gold from 12 metres depth at Waterloo, and a remarkable 1 metre at 19.72 grams per tonne gold also at Waterloo.

Advancing Exploration and Funding Position

Ore Resources is progressing a comprehensive litho-magnetic geophysical review across the Randalls project area, with results anticipated by mid-December 2025. Complementing this, a detailed review of historical soil sampling is underway, with findings expected in January 2026. These data sets will inform and refine upcoming drill programs.

Exploration activities at Randalls are planned to run throughout 2026, alongside ongoing high-impact drilling at Ore’s Coolgardie Gold Projects, particularly the Miriam prospect. The company’s strong balance sheet, with A$5.3 million in cash and no debt as of 30 September 2025, provides a solid financial foundation to execute these programs without dilution or funding risk.

Management Perspective and Next Steps

Managing Director and CEO Nick Rathjen emphasised the significance of the expansion, noting that the Randalls project remains one of the few large-scale gold exploration opportunities in the region. He highlighted the complementary nature of the Randalls and Coolgardie projects in Ore’s portfolio, underscoring a dual approach to unlocking value.

Ore Resources holds a 12-month exclusive option to acquire the new tenement, with modest upfront payments structured in company shares subject to escrow and shareholder approval. The company is actively negotiating heritage protection agreements and other regulatory requirements to advance the tenement to grant.

As exploration advances, the market will be watching closely for assay results from the identified walk-up drill targets and the integration of geophysical and geochemical data to delineate new gold discoveries.