CGN Resources (ASX:CGR) Halts Webb Project Drilling Ahead of Expected Rainfall

May 27, 2025 11:05 AM AEST | By Sonal Goyal

Google News:

CGN Resources (ASX:CGR) Halts Webb Project Drilling Ahead of Expected Rainfall — Image source: Company update

Recent News

Qualcomm-backed study finds Apple’s in-house modem falls short in 5G t...

AMC, movie theater stocks pop as box office hits Memorial Day record

Cocoa Market Turmoil: How Hershey Is Innovating Through Unprecedented...

Telus launches C$70 billion investment targeting fibre, 5G, AI and rur...

Highlights

RC and diamond drilling temporarily suspended at the Webb Project due to a forecasted weather event.

Drilling equipment and camp infrastructure remain onsite.

CGR expects drilling to resume within 7 to 10 days, subject to weather conditions and road access.

First batch of samples sent to a Perth-based lab; results expected in 6–8 weeks.

CGN Resources Limited (ASX:CGR) has announced a temporary suspension of its reverse circulation (RC) and diamond core drilling program at the Webb Project, originally launched late April 2025. The decision has been made as a precautionary measure in response to a forecasted rain event expected to impact the area this week. This decision prioritises the safety of the company’s staff and contractors.

All camp infrastructure and drilling equipment remain onsite, and operations will resume once conditions allow. The duration of the suspension will depend on the amount of rainfall and the timeframe required by the local shire to reopen roads and restore vehicle access. CGN currently expects a pause of approximately 7 to 10 days.

In the meantime, the company has dispatched the first batch of samples to Intertek Laboratories in Perth from Alice Springs. Results are expected within 6 to 8 weeks, subject to transportation timelines and laboratory capacity. Additional samples will be submitted once drilling activities resume.

CGR shares trade higher

CGR shares traded at AUD 0.082 per share, up over 5%, at the time of writing on 27 May 2025.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.