Ore Resources expands Kal East Gold Project tenure by 55%
- Ore Resources expanded its Kal East Gold Project landholding by more than 400km2 by staking 18 new tenements.
- Shares in Ore Resources were unchanged at $0.059 following the low-cost tenure acquisition announcement.
- The company plans to begin a 3,000m to 5,000m drilling programme at Mt Monger in November.
Ore Resources (ASX:OR3) has expanded its Kal East Gold Project landholding by over 55%, adding more than 400km2 through the staking of 18 new tenements.
The low-cost tenure acquisition increases the total Kal East land position past 1,100km2 across the Eastern Goldfields region of Western Australia.
“The expansion of tenure at Kal East further strengthens Ore’s already dominant position across a highly prospective yet relatively underexplored region of the Eastern Goldfields,” said Ore Resources Managing Director and CEO Nick Rathjen.
The new footprint expands the Mt Monger landholding by more than 18km2, with an approved Programme of Work targeting 3,000m to 5,000m of aircore drilling scheduled for November.
Looking ahead, the company expects to launch an additional 10,000m to 20,000m of drilling in early 2027, subject to tenure grants and heritage clearances.
Following the announcement, the Ore Resources share price was unchanged at $0.059.
The expanded project footprint covers the Mt Monger, Randalls, Mt Belches, and Aldiss gold districts.
As of June 30, the exploration company maintained a cash balance of $6.8 million with zero debt to fund its planned field programmes.
