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Highlights
- High-grade gold intercepts up to 9m @ 20.2 g/t Au identified at Panhandle.
- The Panhandle Project spans 64 km² between Genesis Minerals’ Ulysses and Gwalia gold mines in the Leonora district.
- Several new high-priority exploration targets have been outlined at the Christmas Well, including untested greenstone zones and litho-structural corridors.
- Upcoming drill programs aim to test underexplored, gold-bearing structures within this Tier-1 gold province.
CGN Resources Limited (ASX:CGR) has announced to have identified high-grade gold intercepts and multiple new exploration targets across its Panhandle and Christmas Well projects in Western Australia. The development followed detailed data compilation of historical drilling across the newly acquired tenements.
High-Grade Intercepts at Panhandle Project
The Panhandle Project is strategically positioned between Genesis Minerals Limited’s Ulysses and Gwalia gold mines, covering approximately 64 km² of highly prospective stratigraphy. Historical drilling data compiled from the Geological Survey of Western Australia (GSWA) WAMEX report indicated significant gold mineralisation. Standout gold intersections include:
- HWA37: 9m @ 20.20 g/t Au from 61m
- HWA37: 4m @ 1.17 g/t Au from 72m
- HWA38: 4m @ 1.74 g/t Au from 51m
- HWA38: 5m @ 2.20 g/t Au from 56m
- HWRC009: 5m @ 1.58 g/t Au from 50m
- HWA124: 4m @ 6.18 g/t Au from 45m
These results were primarily encountered at the Pelican Prospect, first identified in the mid-1990s, and demonstrated mineralisation within saprolite zones along key structural trends similar to those hosting mineralisation at nearby deposits - Ulysses, Admiral, and Orient Well. Subsequent deeper drilling also intersected primary gold mineralisation associated with key geological indicators characteristic of major gold deposits within the Leonora region.
The company believes that the combination of significant historical gold intersections and favourable geological features indicates exploration potential within shallow-covered, mineralised corridors that have seen limited exploration.
Christmas Well Project - High-Priority Targets Defined
The Christmas Well Project is located just 10 km north of Leonora, and a key geological feature of the project is the contact zone between the Raeside Batholith and the Norseman-Wiluna Greenstone Belt. This contact zone is widely recognised for its gold potential but still underexplored within the company’s tenure. This structural corridor also hosts several major nearby gold systems.
Historical drilling has confirmed the presence of gold mineralisation along structures that host major regional deposits and identified several newly defined high-priority targets for follow-up exploration, many yet to be drilled.
CGN has outlined several high-priority exploration targets, including:
- Litho-structural zones along the sheared batholith-greenstone contact.
- Untested greenstone stratigraphy in the western tenements.
- Anomalous gold zones with limited or no follow-up drilling.
These target zones establish a well-defined framework for upcoming drill programs once tenure is granted. With confirmed gold-bearing structures, identified anomalous zones, and large tracts of underexplored ground, the company believes that the Christmas Well Project offers an opportunity for new discoveries within this Tier-1 gold province.
CGR shares were trading at AUD 0.075 per share at the time of writing on 30 October 2025.
