Gold Anomalies Up to Nine Times Background Detected at CGN’s Webb Project

Innovative Geochemical Technique Reveals Subtle Gold Anomalies

CGN Resources Limited (ASX: CGR) has announced positive results from its recent UltraFine+™ surface geochemistry program at the Webb Project in Western Australia's West Arunta region. This cutting-edge technique, developed by CSIRO, isolates the finest soil fractions (<2 microns) to detect subtle metal ion enrichments beneath barren cover sequences, enabling the identification of mineralisation that traditional methods might miss.

The program, completed in December 2024, revealed significant enrichment in gold and iron-oxide-copper-gold (IOCG) pathfinder elements over key targets such as Shep, K4, and E3. Gold anomalies reached up to nine times the background levels, directly overlying priority geophysical targets identified in an integrated project-wide targeting study.

Integrated Targeting Study Drives New Exploration Focus

In October 2024, CGN commissioned leading geoscientists to conduct an integrated review combining regional geophysical data, including FALCON gravity and aeromagnetic surveys, drilling results, and structural modelling. This comprehensive approach delineated eleven high-rank targets characterized by significant scale (0.5-2 km) and favourable structural settings conducive to large magmatic mineral systems such as IOCG, carbonatites, orogenic gold, and base metal sulphides.

Notably, targets K1, K7, and E3 exhibit gravity signatures analogous to niobium-rich carbonatites discovered on adjacent tenements, while K4, K5, and E1 show promising IOCG potential with coincident gravity, magnetic, and geochemical anomalies. The study’s 3D inversion modelling has produced clearly defined, drill-ready targets, enhancing the precision of upcoming exploration efforts.

Drilling Campaign Set to Test High-Quality Targets

With heritage clearance surveys completed in late 2024, CGN Resources is poised to commence drilling in April 2025, targeting the most compelling anomalies identified through the UltraFine+™ geochemistry and integrated targeting study. The planned program will employ a combination of reverse circulation and diamond drilling methods to rigorously test the mineralisation potential at Shep, Horton, Snorky, and other priority areas.

Managing Director Stan Wholley expressed confidence in the strategy, highlighting the iterative nature of the exploration approach: "The integrated targeting study has been a game changer, vastly improving our geological understanding and providing compelling targets. The recent UltraFine+™ results add another layer of confidence as we prepare to drill targets with major discovery potential."

Webb Project Positioned in a Mineral-Rich Region

The Webb Project covers an extensive 961 km² area within the West Arunta Orogen, a region gaining attention for its potential to host copper, nickel, critical metals, and gold deposits. CGN Resources has already made significant strides with the discovery of Australia's largest kimberlite field here, and the current exploration focus leverages a wealth of high-quality datasets, including multi-element geochemistry, aeromagnetic, and gravity gradiometry surveys.

Surrounded by major mining players such as Rio Tinto and IGO Ltd, the Webb Project benefits from proximity to recent discoveries of niobium and rare earth element (REE) rich carbonatites and IOCG-style mineralisation on neighbouring properties, reinforcing the prospectivity of CGN’s targets.

Outlook and Next Steps

As CGN Resources prepares to mobilise for drilling, the market will be watching closely for assay results that could validate the promising geochemical and geophysical signatures. The combination of innovative UltraFine+™ geochemistry and robust integrated targeting positions the company well to make significant discoveries in a relatively underexplored but highly prospective terrain.