One factor to consider when painting a model red is that the underlying coat will affect the final shade of red you will achieve on your top coat. I have found that a light or white primer coat will yield a brighter red and a gray will yield a darker red when using acrylic model paints such as Testors MM. I suspect that an ore-red color variation could have similar properties so you may want to prove out the final color on some sample pieces before applying it to a finished model.
Sorry I can't help you, but I thought I saw somewhere that there was an old Sherwin Williams chart with the colors certain lake fleets purchased for their vessels. If you cannot find a close enough match with standard paints like Tamiya or Testor's Hobby Master there are plenty of modeling websites that can help in obtaining the proper paint mix ratios to achieve a variety of color variations. Please keep us updated as you continue your project as it sounds interesting!
I haven't built any USS boats, but for the 2 Hanna boats I did build, in which the ore red looked close, I used a base coat of flat red commercial/automotive primer and then a clearcoat overspray. I used a semi-gloss clear lacquer on one, and a gloss clear enamel on the other. You might want to experiment with these combinations to suit your taste, depending if you want the freshly painted look, or somewhat weathered. You can check out the results in the Laker Conversion Models thread. Good luck with your project.