Ore

Ore is a block type in Minecraft. Ores are primarily collected for crafting purposes, such as pickaxes, shovels, and more. Redstone ore is used as a type of "wiring", which can be used to create redstone circuits, compasses and clocks. Ore can also be combined to create a block of the material type. Blocks are expensive, requiring nine of each ore to create, and are mainly recommended for storage purposes. You can stack any type of ore up to 64. It has been confirmed on forums that 9 stacks of 64 of any object is a "shit ton."

Availability
In Minecraft Beta, the following is the distribution of ores according to the altitude. (Layers are number of blocks above the lowest layer of bedrock.) * These points are above the maximum map height, and were extrapolated based on the pattern of (2^n, [2^n]+1 to [2^n]+3, [2^n]+4).

Redstone has the same layer and line-size statistics as Diamond, but is generated 8 times per chunk as opposed to 1.

Ore is created by picking two points a certain distance apart, drawing a line between the points, and filling in any Stone blocks within a certain distance of the line with the ore being done in that round. Source (Section 3.11)

Craftable Blocks
Erze