AUS
NZ
UK
CA
USA
IND
Highlights
- CGN has been granted the first tenements at the Christmas Well and Panhandle Projects.
- The tenements sit between major gold systems including Sons of Gwalia, Tarmoola, and Ulysses.
- The areas contain numerous high-priority targets, offering potential for near-term gold discovery.
- The company has concluded a land access agreement with Darlot Traditional Owners, enabling heritage surveys.
- Planned exploration activities include mapping, surface sampling, geophysics, and maiden drilling.
CGN Resources Limited (ASX:CGR) has significantly expanded and consolidated its strategic landholding in one of Western Australia’s most productive gold regions, following the grant of the first tenements across the Christmas Well and Panhandle Projects, situated near Leonora. Furthermore, the company has enhanced its operational preparedness through the completion of a Land Access Agreement with the Darlot Traditional Owners, enabling the commencement of heritage surveys and advancing the subsequent exploration stage.
Strategic Tenure Granted in a Premier Gold District
The granted tenure comprises three Exploration Licences and ten Prospecting Licences and is positioned between the >8Moz Sons of Gwalia Mine, the >4Moz Tarmoola Deposit, and the >1Moz Ulysses Deposit. These areas host multiple gold targets with potential for near-term discovery.
At Christmas Well, the licences cover a major structural corridor linking two world-class gold systems - Sons of Gwalia Mine and Tarmoola Deposit. The area includes critical sections of the Raeside Batholith and the Norseman–Wiluna Greenstone Belt contact, a proven gold-hosting environment that remains largely underexplored within CGN’s tenure. Several high-order structural trends associated with nearby deposits, including Gwalia, King of the Hills, Harbour Lights, Tower Hill, and Kailis, extend directly into the project area but have seen limited systematic drilling. Furthermore, interpreted greenstone–ultramafic sequences in the western section of the tenure also remain substantially untested, providing compelling targets for future discovery.
High-Potential Targets at Panhandle
At the Panhandle Project, the newly granted licences lie within the core of the Leonora gold district and sit strategically between Genesis Minerals Limited’s Ulysses and Gwalia operations. The tenure encompasses the same favourable stratigraphy that hosts the Ulysses, Admiral, Orient, and Gwalia deposits. Historical intersections and favourable geology indicate potential for additional shallow gold discoveries.
Land Access Agreement Clears Path for Exploration
The company has also finalised a Land Access Agreement with the Darlot Traditional Owners. This agreement enables the commencement of heritage surveys, on-ground exploration and extends to the additional tenure in the district that is currently progressing toward grant. This alignment ensures access continuity and efficiency as the company prepares for the next stage of exploration.
Next Steps: Heritage Surveys and Maiden Drilling
The company is preparing for heritage surveys and initial reconnaissance across the new tenure. Follow-up programs will include detailed geological mapping, surface sampling, and geophysical surveys to refine priority drill targets. A maiden drilling program is planned to commence as soon as heritage clearances are in place, focusing on high-impact structural and greenstone-hosted targets.
CGR Shares Rally
CGR shares were trading 8.62% higher at AUD 0.063 per share at the time of writing on 17 November 2025.
