Adamantite Ore

Adamantite Ore is an ore from 1.1 update. It will likely be used to craft the Adamantite Glaive, Adamantite Drill, Adamantite Chainsaw, and Adamantite armor. The ore will not appear in the world until the player destroys a Demon Altar with a Pwnhammer. This will "bless" the world with deposits of either Adamantite Ore, Cobalt Ore, or Mythril Ore. These ores will then be found randomly like any other.

It is colored red and seems to be found in the Cavern level.