My last runs, when i was trying to write a relic / essence / residue script, indicated that there is no cost effective way to reliably create relics.
You CAN get a ton using bronze or higher with valorite ingots, DC ingots, and gold ingots. Gold hammer is by far the best, easiest to get and yields about 2.2 relics per charge.
There is a dependable process for enchanted essence, both with woods and ingots. Need access to queens forge.