AUS
NZ
UK
CA
USA
IND
Highlights
- CGN Resources has completed a heritage survey, clearing drill-ready targets at the Christmas Well Project.
- The company has finalised plans for the maiden reverse circulation drilling program.
- Multiple high-priority gold targets have been identified across the Christmas Well Project.
- Geological reinterpretation highlights structurally favourable mineralisation zones.
- Additional exploration work is planned across the Panhandle and Broadhurst Projects.
CGN Resources Limited (ASX:CGN) has taken a key step forward in its exploration journey, advancing its Christmas Well Project in Western Australia toward drilling readiness. The company has completed a comprehensive Heritage Survey across key target areas at the Christmas Well Project. The survey covered five high-priority locations—Oxtongue, Lambs Fry, Sweetbread, Trotter, and Rocky Mountain Oyster—clearing planned drill sites for future work.
This milestone enables CGN Resources to finalise its maiden drilling program, with the final heritage report expected by the end of April. The timeline supports the planned commencement of reverse circulation (RC) drilling in mid-May. Preparatory steps, including engagement of Impact Drilling and logistics planning for site preparation, are already underway.
Data-Driven Target Generation
The company’s technical team has undertaken a systematic review of regional and project-scale datasets. These include geological mapping, aeromagnetic data, historical drilling results, and surface geochemistry.
By integrating these datasets with high-resolution magnetic surveys, CGN has identified a series of gold targets. These targets exhibit structural and lithological characteristics consistent with known gold deposits within the Yilgarn Craton.
The identified targets fall into three main categories:
- Untested greenfield targets derived from geophysical modelling
- Litho-structural targets concealed beneath transported cover
- Historical gold intercepts lacking modern follow-up exploration
Many of these targets are positioned along shear zones, structural offsets, and lithological contacts—settings commonly associated with gold mineralisation in the Leonora district.
Priority Target Areas
Several high-priority targets have been defined for imminent drilling.
These targets collectively form a pipeline of drill-ready opportunities supported by geological interpretation and historical evidence.
Broader Project Portfolio Progress
Beyond Christmas Well, CGN Resources continues to advance other exploration assets. At the Panhandle Project, additional heritage surveys are scheduled, with work expected to begin shortly to incorporate further targets into the upcoming drilling campaign.
The company is also progressing its Broadhurst Project in the Paterson Province. Covering 543 square kilometres, the project targets mineralised sedimentary units associated with copper, lead, and zinc occurrences. Exploration licence applications are in place, with plans to commence exploration following tenure grant.
Strategic Location Advantage
The Christmas Well and surrounding projects are located near Leonora, within a region known for significant gold endowment. The project areas target the contact between the Norseman-Wiluna greenstone belt and the Raeside Batholith—an area associated with major deposits such as Gwalia, Tower Hill, and King of the Hills.
CGN’s tenure covers sections of this favourable geological contact, providing multiple exploration opportunities across its portfolio.
Moving Toward Drilling
With heritage clearance completed, targets defined, and logistics underway, CGN Resources is transitioning into the next phase of exploration. The planned RC drilling campaign in May represents the first systematic test of several structurally supported gold targets identified through detailed geological work.
As exploration progresses across Christmas Well and adjacent projects, the company continues to build a pipeline of targets supported by both historical data and modern interpretation.
Shares of CGR traded at AUD 0.075 at the time of writing on 15 April 2026.
