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Highlights
- Strategic tenure expansion at the Christmas Well and Panhandle projects targets highly prospective Eastern Goldfields corridor.
- New tenure application at Panhandle aims to secure ground with gold and nickel potential within the Eastern Goldfield Superterrane.
- Expansion of the Christmas Well Project in the Leonora district focuses on the Gwalia gold corridor, with access agreements in place and exploration planned for late Q1 FY25-26.
- Drilling at the Webb Project including RC and diamond drilling at Kandula and Shep zones revealed new mafic and ultramafic intrusions, enhancing geological understanding.
CGN Resources Ltd (ASX:CGR) is ramping up its exploration efforts across major Western Australian regions, including West Arunta, Yilgarn, and the Leonora district. Recent developments highlight strategic tenure expansion and encouraging geological results, reinforcing the company’s focus on copper, gold, and critical metals exploration.
Strategic Expansion Across Eastern Goldfields
The Christmas Well and Panhandle projects form a strategically important package of exploration tenure located within the richly mineralised Eastern Goldfields Terrain, positioned along a major structural corridor. These projects lie along strike both north and south of world-class deposits such as the 8Moz Gwalia and 4Moz King of the Hills, highlighting their significant geological potential.
Hosting the right stratigraphy and structural settings, the area remains largely underexplored due to the presence of cover that obscures primary rock outcrops.
Panhandle Tenure Application Progress: CGN Resources has applied for new tenure at the Panhandle project, adjacent to its current landholdings.
The Panhandle Project lies approximately 7km south of the Gwalia Mine and comprises two exploration licences. The project area is interpreted to host stratigraphy similar to that of Gwalia, though it remains concealed beneath cover.
The area covers lithologies from the Eastern Goldfield Superterrane, known for its potential for gold and nickel. The company is reviewing public data and working through compliance steps to secure the application.
Christmas Well Project (Leonora District Expansion): CGN Resources is expanding its landholdings in the Leonora district. The company has pegged tenure at the Christmas Well project, focusing on the highly prospective Gwalia gold corridor.
The Christmas Well Project is located within the Norseman–Wiluna Greenstone Belt, approximately 12 km northwest of Leonora, Western Australia. The project encompasses one exploration licence and eleven prospecting licences, collectively covering an area of around 1,864 hectares.
Strategically positioned within the Gwalia Shear Zone, Christmas Well lies in a highly mineralised corridor that hosts several significant gold deposits within a 15 km radius. These include:
- the world-class Sons of Gwalia deposit (over 8 million ounces)
- the Tarmoola deposit (>4 million ounces)
- Tower Hill (>1 million ounces), along with multiple smaller deposits in the 100,000 to 250,000 ounce range.
Access agreements have been signed with key stakeholders. Tenure approval is expected soon, with exploration planned to begin in late Q1 FY25-26.
Webb Project
- Drilling was conducted by the in-house team in partnership with DDH1 Drilling.
- RC and diamond drilling targeted the Kandula and Shep areas.
- Results provided valuable geological insights, boosting the project's prospectivity.
- New intrusive mafic and ultramafic rocks were discovered in the northern zone.
- These findings have improved geological understanding and revealed new exploration opportunities.
Looking ahead, CGN Resources has outlined a focused exploration program aimed at advancing its ongoing initiatives.
Shares of CGR traded at AUD 0.06 at the time of writing on 29 July 2025.
