Ores

Ores are a primary crafting material for most equipment. Ores can be smelted down in a Furnace to create bars, the primary component for tools, weapons, and armor. In addition, mined ores can be placed again for use in building. 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 surface and Underground and Cavern layers, as well as protruding from the surface in pockets. Requires 3 ore per Copper Bar.

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Tin is the alternative to the Copper Ore and can be found throughout the Underground and Cavern layers, as Copper Ore. Requires 3 ore per Tin Bar.

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

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Lead is the alternative to the Iron Ore. It is most prevalent throughout the Underground and Cavern layers too. Requires 3 ore per Lead Bar.

Found starting in the Cavern layer, Silver is stronger than Iron but weaker than Gold. Silver may also be found in Floating Islands. Requires 4 ore per Silver Bar.

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Tungsten is the alternative to the Silver Ore. It is found starting in the Cavern layer. Requires 4 ore per Tungsten Bar.

Found deeper in the Cavern layer, Gold is stronger than Silver Ore and it is not so easy to find it like Silver Ore. Gold may also be found on Floating Islands. Requires 4 ore per Gold Bar.

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Platinum is the alternative to Gold Ore. Found deeper in the Cavern layer as well as on Floating Islands. Requires 4 ore per Platinum 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.

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Crimtane ore is the Crimson analogue to Demonite Ore. It is dropped by the Crimson boss monsters and can be found in small veins. Requires 4 ore per Crimtane Bar. Can be combined with Tissue Samples to create Crimson weapons and armor.

After destroying a Shadow Orb, a Meteorite may crash somewhere in the world, generating a large amount of Meteorite Ore and constantly spawning Meteor Heads when the player is near. Meteorite burns the player unless they equip an Obsidian Skull, an Obsidian Shield,an Obsidian Horseshoe,an Ankh Shield or have drank an Obsidian Skin Potion. Requires 4 ore per Meteorite Bar. Meteor Heads also have a 2% chance to drop Meteorite.

Generated when lava and water collide. Obsidian appears as an Ore and is gathered similarly, but has no bar form on its own; though it is required in order to craft the essential Hellstone Bars.

Found only in the Underworld layer of the world, Hellstone burns the player without the protection of an Obsidian Skull, Obsidian Shield, Ankh Shield or the Obsidian Skin Potion. Hellstone is the strongest ore available for tools, weapons, and armor without activating Hardmode. 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 Nightmare Pickaxe, or any higher tier pickaxe-like item, or even by removing the blocks below them.

Hardmode ores
After destroying a Demon Altar (which requires using a Pwnhammer or Drax), Cobalt Ore, Mythril Ore, and Adamantite Ore will appear in the Underground and Cavern layers. Those ores can be found particularly easily near lava in the cavern layer, in the Underworld roof and in the intersection between both.


 * With the 1.2 update, Palladium Ore, Orichalcum Ore and Titanium Ore will sometimes generates instead of the normal Hardmode ores.

Cobalt is the weakest of the three Hardmode ores and requires a Molten Pickaxe or better to mine. It requires 3 ore per Cobalt Bar.

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There is a chance this ore will generate instead of Cobalt Ore. Requires 3 ore per Palladium Bar.

Mythril is the middle tier of the Hardmode ores and requires a Cobalt Drill or better to mine. It requires 4 ore per Mythril Bar.

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There is a chance this ore will generate instead of Mythril Ore. Requires 4 ore per Orichalcum Bar.

Adamantite is the better than mythril and cobalt and requires a Mythril Drill or better to mine. 5 ore are required per Adamantite Bar. An Adamantite Forge must be used to smelt the ore into Adamantite Bars.

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There is a chance this ore will generate instead of Adamantite Ore. Requires 5 ore per Titanium Bar. An Adamantite Forge or a Titanium Forge must be used to smelt the ore into a Titanium Bar.

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Chlorophyte is a new ore that's spawned only in the Hard Mode Jungle. Requires 6 ore per Chlorophyte Bar

Tips

 * Each hardmode ore is chosen at the moment you break the first three altars in the world. You can choose the ores you like by quitting your world without saving (by ending the task or killing the process) after smashing your first altars. It is easier done with a server.

Trivia

 * Every ore available, excluding Demonite, Crimtane, Meteorite, Obsidian, Hellstone, Mythril, Orichalcum, and Adamantite, are very real elements on the modern Periodic Table of Elements and are found, often deep, in the Earth. Note that Obsidian and Meteorite are real as well, just not elements on the Periodic Table.