CGN Resources Secures 171 sq km Gold Tenure and Holds $3.4M Cash
CGN Resources has secured significant new gold tenements in Western Australia's Leonora district and advanced exploration at multiple projects, maintaining a solid cash position to support ongoing development.
- Secured new gold tenure at Panhandle and Christmas Well projects
- Advanced geological analysis at Webb Project with drill core transported to Perth
- Initiated base metal exploration at Broadhurst in Paterson Province
- Maintained strong cash balance of $3.4 million
- Finalizing land access agreements with Traditional Owners
Strategic Expansion in Leonora Gold District
CGN Resources Ltd (ASX – CGR) has reported meaningful progress in its September 2025 quarterly activities, notably expanding its landholding in the prolific Leonora gold province of Western Australia. The company successfully secured new tenements adjacent to its existing Christmas Well and Panhandle projects, increasing its footprint to 171 square kilometres in this highly prospective region.
These newly acquired tenements lie along strike from major multi-million-ounce gold deposits such as Gwalia, King of the Hills, Ulysses, and Admiral, underscoring the potential for significant discoveries. The geological setting includes key structural corridors and contacts between the Raeside Batholith and the Norseman-Wiluna Greenstone Belt, known for hosting world-class gold systems.
Advancing Exploration and Geological Understanding
At the Webb Project in the Eastern Pilbara, CGN Resources completed rehabilitation of drilling sites and transported all diamond drill core to Perth for detailed geological and geotechnical analysis. This work aims to deepen understanding of the project's geology, moving beyond previous geophysical interpretations to hard data from drilling. The company plans further logging, density measurements, geochemical assays, and age dating to refine future drill targeting.
Meanwhile, the Broadhurst Project in the Paterson Province marks CGNR’s entry into base metal exploration, with applications for two large exploration licences covering 543 square kilometres. Early reviews of historical data and regional geophysics have identified multiple base metal targets, including copper, zinc, and lead mineralisation, building on previous work by Encounter Resources and IGO.
Stakeholder Engagement and Financial Position
CGN Resources has also made progress on the social and regulatory front, negotiating a land access agreement with the Darlot Traditional Owner group, which will facilitate exploration activities at Christmas Well and Panhandle. The company is finalizing tenure grants and access agreements with other stakeholders, including Genesis Minerals and Murrin Murrin.
Financially, CGNR maintained a strong cash position of $3.4 million at quarter-end, supporting ongoing exploration and project development. Operating expenses for the quarter were approximately $743,000, covering drilling, logistics, data compilation, and stakeholder engagement. Payments to related parties amounted to $107,000, including executive and director fees.
Looking Ahead
In the coming quarter, CGN Resources plans to complete remaining core test work at Webb, compile and validate historical data for its Leonora and Broadhurst projects, and design detailed exploration programs. These will likely include aeromagnetic surveys, field reconnaissance, and initial reverse circulation drilling to test high-priority targets concealed beneath transported cover.
With a diversified project portfolio spanning gold and base metals, CGNR is positioning itself to unlock value in underexplored but highly prospective regions of Western Australia, leveraging both geological potential and strong community partnerships.
Bottom Line?
CGN Resources is steadily building a robust exploration platform in Western Australia, with upcoming drilling and data analysis set to reveal the true potential of its expanded tenements.
Questions in the middle?
- When will the newly secured tenements at Leonora be officially granted and ready for drilling?
- What are the initial results and implications of the detailed geological analysis from the Webb drill core?
- How will CGNR prioritize exploration targets between gold at Leonora and base metals at Broadhurst?
