Exploration Risk Looms as Ore Resources Eyes Randalls South Gold Potential

New Gold Targets at Randalls South

Ore Resources Ltd (ASX, OR3) has announced a significant advancement in its exploration efforts at the Randalls Gold Project in Western Australia's prolific Goldfields region. Through a comprehensive litho-structural interpretation of aeromagnetic geophysical data combined with a detailed review of surface geochemistry, the company has identified 10 broad gold targets within the southern tenements of Randalls South.

These targets are structurally associated with the Mt Belches Banded Iron Formation (BIF), focusing on fold axes, limbs of tight chevron folds, and cross-cutting structures that have historically controlled mineralisation at the Waterloo, Logan, and Nightcrawler prospects. Notably, many of these targets align with large gold-in-soil anomalies exceeding 10 parts per billion (ppb), yet remain underexplored with only limited shallow historical drilling.

Historical Context and Geological Insights

The Randalls South tenure overlays an Archaean sedimentary sequence, including the Mt Belches BIF unit, which hosts several nearby deposits such as Santa, Maxwells, and Cock-Eyed Bob. The newly identified targets mirror the structural settings of these deposits, particularly the fold hinges and limbs, which are known to localise gold mineralisation.

Historical drilling at the three main prospects; Waterloo, Logan, and Nightcrawler; has returned encouraging intercepts, including grades up to 19.72 grams per tonne (g/t) gold over 1 meter and multiple intervals exceeding 2 g/t gold. These results, combined with the geophysical and geochemical data, underscore the potential for new high-grade discoveries within the Randalls South area.

Ongoing and Future Exploration Plans

Ore Resources is currently finalising a similar detailed review of the Randalls North tenements, with results anticipated in January 2026. The company plans to prioritise the newly identified targets in its upcoming exploration programs throughout 2026, complementing ongoing drilling activities at its Coolgardie Gold Projects, where Phase 3 reverse circulation drilling at the Miriam prospect is nearing completion.

Managing Director and CEO Nick Rathjen highlighted the rapid progress, stating, "These targets strongly evidence the potential for new high-grade gold discoveries at Randalls South and will be prioritised in our upcoming exploration activities." The company’s strong cash position of approximately A$11.4 million provides a solid financial foundation to advance these programs.

Strategic Position and Outlook

Randalls is strategically located within an infrastructure-rich mining province, close to established mining hubs and processing facilities. Ore Resources holds option agreements to acquire the Randalls project fully, subject to due diligence and negotiation of heritage protection agreements, positioning the company to consolidate its presence in this promising gold district.

With a methodical approach combining historical data, modern geophysical interpretation, and targeted drilling, Ore Resources is well placed to unlock value at Randalls and its broader portfolio. The market will be watching closely as assay results from both Randalls North and Coolgardie projects emerge early next year, potentially reshaping the company’s resource base and exploration narrative.