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Highlights
- CGN Resources has identified multiple drill-ready targets at Christmas Well through high-resolution magnetic and radiometric surveys.
- The Panhandle Project hosts high-grade gold intersections, with most of the area remaining underexplored beneath surface cover.
- Historical drilling across Leonora has been largely shallow, indicating significant potential for deeper mineral discoveries.
- The acquisition of the Desdemona Project expands CGN’s footprint to a consolidated 386 km² position in the Leonora gold district.
CGN Resources Limited (ASX:CGR) is advancing its Western Australian exploration portfolio with a growing pipeline of high-priority, drill-ready targets, supported by new geophysical data and strategic project updates. Recent work across the Leonora is refining the company’s exploration focus, with updated surveys and historical data reviews highlighting multiple prospective zones and strengthening the case for further discovery.
Leonora Project Highlights Underexplored Gold Corridor
The Leonora project remains central to CGN’s exploration strategy, covering a 386 square kilometre landholding in a major gold district, with key focus areas including both the Panhandle and Christmas Well prospects. Recent updates have highlighted the potential of the Panhandle area, alongside ongoing target development at Christmas Well.
Christmas Well Survey Defines New Drill Targets
Located along strike from Kailis Mine, at the Christmas Well project, high-resolution airborne magnetic and radiometric surveys have been completed recently. The surveys have identified multiple litho-structural targets beneath shallow cover, outlining new opportunities for discovery. These findings improve the mapping of litho-structural corridors and highlight potential for extensions.
Analysis of the data has also outlined key geological features and structural trends comparable to those found in major gold systems within the Leonora region. Several high-priority drill targets have now been defined, with planning for heritage surveys already underway to support upcoming exploration programs.
Panhandle Prospects and Historical Drilling Insights
At Panhandle Project, situated near +8Moz Gwalia Gold Mine, four key prospects—Gwalia South, Annapurna, Paradise North and Pelican—have recorded multiple drill intersections exceeding 2 grams per tonne gold. Despite these results, much of the area remains underexplored, with approximately 93% of the project concealed beneath surface cover.
Historical drilling (~4,000 historical drillholes compiled) across the tenure has largely been shallow, with around 67% of holes less than 50m deep and only a small proportion (~6%) extending beyond 100 metres. This limited depth testing has left deeper mineralised systems largely unassessed, particularly as earlier exploration focused on shallow oxide mineralisation.
The presence of high-grade intersections, close proximity to Tier-1 gold systems, and predominantly shallow historical drilling collectively indicate significant potential for deeper discoveries.
CGN Expands Footprint in Leonora Gold Province
CGN has strengthened its position in the Leonora region by agreeing to binding terms to acquire the Desdemona Project from Patronus Resources. The acquisition adds approximately 142 square kilometres of tenure, including three mining, eight exploration, and nine prospecting licences.
The expanded landholding sits along strike from major gold systems, including the Gwalia, King of the Hills and Ulysses operations. When combined with existing assets at Panhandle and Christmas Well, CGN now controls a consolidated 386 square kilometre footprint in the Leonora district.
The newly acquired ground includes multiple advanced targets supported by historical drilling, enhancing the project pipeline across the broader Leonora portfolio.
With an expanded land position in the Leonora district and a steady pipeline of drill-ready targets, CGN Resources is progressing exploration activities across its core projects. Upcoming drilling programs and continued data integration are set to play a key role in refining targets and advancing understanding of mineralised systems within the company’s tenure.
CGN Resources shares were trading at AUD 0.055 per share at the time of writing on 31 March 2026.
