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Highlights
- Drilling is underway at the Webb Project, targeting high-potential copper-gold IOCG, carbonatite-hosted niobium, and orogenic gold systems.
- High-priority targets K4, K5, E1 and Shep were defined through integrated geoscientific analysis.
- CGN secured AUD 213,000 in EIS funding for a 700m deep diamond hole at the E1 target.
- In the Leonora district, CGN expanded its landholding through the strategic pegging of the Christmas Well and Panhandle projects.
- Historical gold hits and favourable geological settings at Christmas Well highlight the project's significant untapped potential.
CGN Resources Limited (ASX:CGR) maintained significant exploration momentum through the first half of 2025, advancing its key projects across Western Australia. The company continued exploration at the Webb Project in the West Arunta Orogen and early-stage work at the Christmas Well and Panhandle Projects in the gold-rich Leonora district.
The company’s exploration strategy remains focused on uncovering copper-gold, niobium-rich carbonatite, and orogenic gold systems. During the period, the company made significant progress in geoscientific data acquisition, target generation, and drilling execution.
Drilling Program Underway at Webb Project
An integrated targeting study, incorporating geophysical and geological datasets with publicly available regional data, defined a series of high-priority drill targets at the Webb Project:K4, K5, E1, and Shep. These targets are considered prospective for Iron Oxide Copper Gold (IOCG), carbonatite-hosted niobium, and orogenic gold mineralisation. Interpretation of Ultrafine™ surface geochemistry results from earlier in the year further supported the potential for concealed mineral systems beneath cover.
The company engaged drilling contractor DDH1 to undertake a program combining reverse circulation (RC) and diamond drilling. Site mobilisation began in March 2025, with drilling commencing in late April at K4, K5, and E1. The Shep target, underpinned by fixed loop EM, IP data, and historical geochemistry, was also prioritised. However, drilling was temporarily paused due to unseasonal rainfall. The team was remobilised on 8 June, and drilling resumed at Shep on 10 June
Notably, CGN secured AUD 213,000 in Exploration Incentive Scheme (EIS) funding from the Western Australian Government to support a deep, 700m diamond drill hole at the E1 IOCG target.
Leonora District: Expanding Strategic Land Positioning
In parallel with West Arunta activities, CGN continued building a land positioning in the Leonora gold district through low-cost tenement pegging. After a review of publicly available data, the company pegged the Christmas Well and Panhandle Projects, both situated in proximity to prolific gold producers such as the Sons of Gwalia, Tarmoola, and Tower Hill deposits.
The team identified favourable geological structures, as the tenure is located within a 15km radius of an area with +1g/t gold endowment and show compelling indications of gold mineralisation in surface geochemistry and drilling.
The primary focus for the Leonora projects has been on meeting compliance obligations, including stakeholder engagement and negotiating access agreements to progress toward tenure grant. Concurrently, the technical team has been compiling regional data, interpreting geological and geophysical information, and planning initial exploration programs, identifying multiple high-priority targets. Notably, the Christmas Well tenure includes several significant historical gold intercepts that remain largely untested.
Looking Ahead
CGN will continue drilling at Webb and complete geochemical analyses, while progressing access agreements for the Christmas Well and Panhandle projects, with the objective of securing granted tenure in the Leonora district. The company is also advancing detailed exploration planning for these areas while maintaining active engagement with traditional owners and expanding its marketing initiatives.
CGR shares were trading at AUD 0.074 per share at the time of writing on 10 July 2025.
