Ores

Ores are a material that are the primary crafting material. Ores can be smelted down in a Forge to create Bars, the primary unit for crafting Tools, Weapons, and Armor. Ores are usually found strewn about the underground layers of the world, however lower tier ores may be found protruding from the surface.

Copper is the first tier of metal available to the player and can be found throughout the Underground and Cavern layers, as well as protruding from the surface in pockets. Requires 3 ore per Copper Bar.

Iron is the second tier of metal players can find. It can be found on the surface, but is most prevalent throughout the Underground and Cavern layers. Pockets can also be found near the surface. Requires 3 ore per Iron Bar.

Found starting in the Cavern layer, Silver is stronger than Iron but weaker than Gold. Requires 4 ore per Silver Bar.

Found deeper in the Cavern layer, Gold is the strongest ore available without breaking a Shadow Orb, fighting a boss or going to the Underworld. Requires 4 ore per Gold Bar.

Demonite ore was the only ore that wasn't mined in previous versions. It is dropped by boss monsters, but is now also generated naturally in veins like other ores. Demonite ore is commonly found in 3-5 block veins, but is more plentiful near chasms. Combined with Shadow Scales from the Eater of Worlds it can be used to craft high tier tools, weapons, and armor. Requires 4 ore per Demonite Bar.

After destroying a Shadow Orb meteorites will randomly crash into the surface of the world, spawning a large amount of Meteorite to be mined. Meteorite burns the player without the protection of an Obsidian Skull and constantly spawns Meteor Heads when the character is near. Requires 6 ore per Meteorite Bar.

Found only in the Underworld layer of the world, Hellstone burns the player without the protection of an Obsidian Skull or the Obsidian Skin Potion. Hellstone is the strongest ore available for tools, weapons, and armor. Requires 1 Obsidian and 4 Hellstone per Hellstone Bar. A Hellforge must be used to smelt Hellstone bars, not a normal forge. Players can find Hellforges in the Underworld, but they can only be freed using a Meteor Hamaxe, Molten Hamaxe, or by removing the blocks below them.