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Highlights
- CGN Resources has completed heritage clearance across five priority targets, enabling its maiden 4,000-metre RC drilling campaign to proceed.
- Impact Drilling is scheduled to mobilise this week, with drilling planned across the Ox Tongue, Lambs Fry, Sweetbread, Rocky Mountain Oyster and Pelican prospects.
- The campaign will provide the first modern drill testing of multiple structurally prospective gold targets within the company's Leonora project portfolio.
- CGR shares soared over 63% to trade at AUD 0.090.
CGN Resources Limited ( ASX:CGR ) has completed heritage surveys across multiple priority exploration areas at its Christmas Well and Panhandle projects in Western Australia's Leonora region, enabling the company to begin its maiden reverse circulation (RC) drilling program. Site preparations work is underway, with approximately 4,000 metres of drilling scheduled to commence this week following the mobilisation of Impact Drilling.
Heritage Clearance Clears the Way for Maiden Drilling
The company has secured heritage clearance for five priority targets — Ox Tongue, Lambs Fry, Sweetbread, Rocky Mountain Oyster and Pelican — following engagement with the Darlot Traditional Owner group. The milestone enables drilling across several targets identified through historical exploration data, geochemical analysis, structural interpretation and recently completed high-resolution magnetic surveys.
Earthworks and site logistical preparations at Christmas Well have been finalised, with the Impact Drilling expected to commence operations during the week.
Program to Test Multiple Gold Targets
At the Christmas Well project, the maiden RC drilling campaign will evaluate a combination of greenfield prospects, concealed litho-structural targets beneath transported cover, and historical gold occurrences that have not previously been assessed using modern exploration techniques.
The company noted that several of the targets are situated along interpreted shear zones, lithological contacts and structural offsets, which are regarded as favourable settings for gold mineralisation in the Leonora district. The maiden drilling campaign will evaluate only a portion of the broader pipeline of exploration targets identified across the projects.
Focus on Five Priority Prospects
The initial drilling program will target the Ox Tongue, Sweetbread, Rocky Mountain Oyster, Lambs Fry and Pelican prospects.
Among these, Ox Tongue has been identified as a key greenfield target after high-resolution magnetic surveys outlined a concealed granite-greenstone contact, a geological setting comparable to nearby Gwalia Gold Mine.
Meanwhile, previous drilling at Rocky Mountain Oyster and Sweetbread intersected gold mineralisation, with both prospects remaining open along strike and at depth.
Exploration Activities Continue Across Leonora Portfolio
Beyond the maiden drilling campaign, the company continues to advance additional exploration targets across both the Christmas Well and Panhandle projects. The company noted that recent tenure consolidation and completed heritage activities are expected to support additional drill-ready opportunities as exploration progresses across its broader Leonora gold portfolio.
With heritage approvals completed and drilling preparations underway, CGN Resources is preparing to commence its first RC drilling program across five priority gold targets within its Leonora projects. The campaign is expected to evaluate several structurally prospective targets identified through modern exploration techniques.
CGR shares trade higher
CGR shares traded at AUD 0.090 per share at the time of writing on 13 July 2026, up over 63%.
