Hi - I'm the author of the mod UberWaffe mentioned. The source for the current version is
here. The actual ore generation algorithms are in
src/CustomOreGen/Server/MapGen****. The classes are heavily tied to the Minecraft structure generation system, but the core algorithms can be lifted out and transplanted somewhere else without too much work.
The algorithms themselves are dead simple, and focused more on being configurable than on being true to natural geology. This works well in Minecraft, but after reading through the thread linked by Cervator I am not sure that they would fit the more naturalistic style in this game. I really like results I saw in that thread, by the way - I'll be following the developments here, and perhaps I can contribute something in the future. Certainly I'd be happy to answer any questions about my code if it does prove to be useful.