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Highlights
- CGN Resources secured new tenure and land access agreements to advance Leonora exploration readiness.
- Completed a detailed aeromagnetic survey at Christmas Well to support drill targeting.
- Expanded the Panhandle Project footprint through additional tenure applications.
- At Broadhurst, CGN advanced compliance approvals and historical data for future exploration.
- Maintained a cash balance of approximately A$2.9mn to fund near-term programs.
- Following the quarter, CGN expanded its Leonora holdings by acquiring 100% of a prospective gold package from Patronus Resources.
CGN Resources Ltd (ASX:CGR) advanced its Western Australian project portfolio during the December quarter, completing key work programs across tenure, access agreements, technical studies, and exploration planning to prepare its projects for the next phase of evaluation and drilling.
Following the quarter, the company signed a binding agreement to acquire 100% of a highly prospective gold tenure package from Patronus Resources in the Leonora district, further strengthening its district-scale footprint in this prolific gold region. To know more, read here.
Leonora Gold Projects: Advancing Access and Technical Planning
Across the Leonora Gold Projects at Christmas Well and Panhandle, CGN achieved several tenure and access milestones during the quarter. Multiple Christmas Well tenements were granted, providing the company with control over key priority targets. The company compiled historical datasets and completed detailed technical planning to support district-scale exploration programs. Near-term exploration plans were finalised, including first-pass drilling programs across priority targets at both projects. Heritage survey planning was initiated to support upcoming drilling activities.
Christmas Well Project: Tenure Growth and Geophysical Survey Completion
The Christmas Well Project is located approximately 12 km north of Leonora within the Gwalia Shear Zone, a significant gold-bearing structural corridor. During the quarter, CGN secured the grant of Exploration Licence E37/1579 and Prospecting Licences P37/9857–9867, with almost half of the project’s current licences granted during the reported period.
CGN executed Land Access Agreements with both the Darlot Traditional Owner group and Genesis Minerals. The company also completed a detailed aeromagnetic survey over the project area, with final data processing ongoing at the end of the quarter to support future drill targeting.
Panhandle Project: Strategic Footprint Expansion
The Panhandle Project is located approximately 25 km south of Leonora along the Goldfields Highway, positioned between Genesis Minerals’ Gwalia Mine to the north and the Ulysses mining hub to the south. During the quarter, CGN applied for additional tenure following the identification of further prospective areas, increasing the scale of the project.
The Panhandle project now comprises two granted Exploration Licences and four Exploration Licence applications, covering a combined area of approximately 145 km².
Webb and Broadhurst Projects: Evaluation and Compliance Progress
At the Webb Project, CGN continued systematic evaluation of drill core, including technical reassessment, geochemical sampling, and geochronological analysis, with results pending. At the Broadhurst project, the company progressed statutory and compliance approvals to support new tenure grants and commenced historical data compilation.
CGN ended the quarter with a cash balance of approximately A$2.9mn, providing funding certainty for planned exploration and near-term drilling activities.
Planned work for the March 2026 quarter
CGN delivered a steady December quarter, advancing tenure, access, and technical work across its Leonora portfolio. With geophysical surveys completed, projects expanded, and A$2.9mn cash position, the company looks forward to progress into its next exploration and drilling phase. Subsequent to the reporting period, CGN announced a binding agreement with Patronus Resources Ltd (ASX:PTN) to acquire the Desdemona Project adjoining the Leonora Gold Project, consolidating a district-scale landholding in the Leonora region.
Shares of CGN traded at AUD 0.095, up around 4.40%, at the time of writing on 30 January 2026.
