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Highlights
- A high-resolution airborne magnetic and radiometric survey has identified multiple prospective gold targets beneath shallow cover at the Christmas Well Project.
- Newly processed geophysical data has improved mapping of structural corridors associated with known gold mineralisation in the Leonora region.
- Several high-priority drill targets have been defined ahead of a planned 4,000-metre reverse circulation drilling program.
- The company has commenced heritage survey planning for these targets.
CGN Resources (ASX:CGR) has completed a high-resolution, low-level airborne magnetic and radiometric survey at its Christmas Well Project in Western Australia. The project is 100% owned by the company and sits within the heart of the highly endowed Leonora gold district.
Preliminary analysis has highlighted a range of lithological and structural targets, representing new opportunities for mineralisation and has generated several drill-ready prospects to support upcoming exploration activities.
High-Resolution Survey Enhances Geological Understanding
As part of the recently completed surveys, the company collected 3,529-line kilometres of data with 50-metre line spacing, allowing detailed mapping of lithological and structural trends across the project area.
Specialist contractor Mag-Spec Airborne Surveys conducted the survey using a Cessna 206 fixed-wing aircraft. Magnetic and radiometric data were measured with advanced instrumentation, including a caesium vapour magnetometer and gamma-ray spectrometer. Data processing and quality control were overseen by Merlin Geophysics, which applied standard filtering and imaging techniques to produce datasets for geological interpretation.
New magnetic survey data has improved the mapping of favourable litho-structural corridors that host known gold mineralisation extending along strike beneath shallow cover. Furthermore, analysis has outlined key structural trends and geological features within the project area that display similarities to major gold-bearing systems across the Leonora region.
New Targets Identified Across Project Area
A review integrating the new survey results with existing geological mapping, historical drilling data, regional and high-resolution aeromagnetic data and surface geochemistry has led to the identification of series of gold targets. These include-
- Untested greenfield prospects,
- Litho-structural targets concealed beneath cover, and
- Areas where historical gold intercepts have not been followed up.
Many of the targets occur along interpreted shear zones, structural offsets and lithological contacts. These geological settings are widely associated with gold mineralisation in the Leonora district.
The analysis has defined several priority target areas including
- Ox Tongue,
- Black Pudding,
- Sweetbread,
- Rocky Mountain Oyster and
- Trotter
Each of these prospects presents geological characteristics that warrant further testing through drilling.
Data Supports Upcoming Drilling Program
In addition to these priority targets, the company has identified a pipeline of additional exploration targets across the Project. Additional areas such as Trotter, Devilled Kidney and Lambs Fry are currently being evaluated for future drilling programs.
The identified targets will form the basis of a planned drilling campaign. Heritage survey planning has commenced as part of preparations for the next phase of exploration.
The completion of the high-resolution airborne magnetic and radiometric survey marks a significant step in advancing exploration at the Christmas Well Project. The dataset has enabled improved interpretation of lithological and structural features across the tenement package and has generated several drill-ready targets. With drilling preparations underway, the new data provides a framework for ongoing exploration within the Leonora gold district.
CGR shares were trading at AUD 0.07 per share at the time of writing on 9 March 2026.
