Ore Resources (ASX:ORE) commenced its initial 1,000-metre diamond drilling program at the Forrest prospect, marking a significant transition in its Phase 4 exploration strategy.
The maiden diamond campaign is designed to define key structural and lithological controls, while collecting essential mineralogy and density data to underpin future resource estimations.
The program follows the completion of a 3,900-metre reverse circulation drilling phase at the Miriam Gold Project, which saw 23 holes drilled throughout January and February.
Several of these RC holes were utilised as pre-collars to facilitate the deeper diamond core drilling currently targeting the extension of the emerging gold system.
Managing Director and CEO Nick Rathjen noted that the current works are pivotal for refining the geological model at Miriam and uncovering deeper extensions of the Forrest system.
The company remains in a strong secondary position for growth, reporting a robust cash balance of $10.7 million and zero debt as of Dec. 31, 2025.
Looking ahead, sub-audio magnetics survey results are due in early April, with diamond drilling assays expected shortly after.
An aircore drilling program is scheduled to begin in early April, targeting regional prospects at Burbanks East and Mt Monger.
At the time of reporting, Ore Resources' share price was $0.072.