CGN Resources (ASX:CGR) has completed its previously announced maiden reverse circulation (RC) drilling program at the Christmas Well Project near Leonora, Western Australia.
The company has completed 15 RC holes for 2,093m across four priority gold targets including Ox Tongue, Lambs Fry, Sweetbread, and Rocky Mountain Oyster, with all planned holes reaching their target depths.
Samples have been dispatched to Intertek Laboratories for multi-element analysis, with assay results expected over the coming four to six weeks.
CGN says the program marks the first drilling campaign across several high-priority targets generated through detailed geological interpretation, geophysics, and structural modelling.
Managing Director Stan Wholley says the completion of maiden drilling represents another important milestone for the company, describing Christmas Well as “one of the most exciting emerging gold portfolios in the Leonora district”.
Christmas Well occupies a position within the Leonora Gold Province, lying immediately along strike from several major multimillion-ounce gold deposits, including Gwalia, King of the Hills, Tower Hill, and Harbour Lights.
Heritage agreement opens up Panhandle
CGN has also executed a heritage access agreement with the Nyalpa Pirniku Traditional Owners, covering key tenure within the Panhandle Project.
The agreement covers tenements acquired through the Patronus Resources (ASX:PTN) transaction, together with several exploration licences pegged by CGN.
The agreement enables the company to commence heritage clearances, field programs, and drill planning across numerous high-priority gold targets already identified within the Panhandle Project.
CGN notes the Pelican target will be a priority for drill testing.
“[The agreement] provides the pathway for us to accelerate exploration across the Panhandle Project,” Wholley says.
“With Christmas Well assays pending and Panhandle now advancing towards field activities, we continue to build strong exploration momentum across our district-scale Leonora landholding.”
CGN Resources is a mineral explorer focused on discovering copper, gold, nickel, and critical minerals in WA.
Write to Paula Fabe at Mining.com.au
Images: CGN Resources
