Panhandle Project Yields 9m at 20.2 g/t Gold in Historical Drilling Data
CGN Resources has revealed compelling high-grade gold intercepts up to 9m at 20.2 g/t Au from historical drilling at its Panhandle Project, strategically located between major gold mines near Leonora. The company also highlights multiple untested targets at its Christmas Well Project, signaling strong exploration potential in a Tier-1 gold province.
- High-grade gold intercepts up to 9m @ 20.2 g/t Au identified at Panhandle Project
- Project strategically positioned between Genesis Minerals’ Ulysses and Gwalia mines
- Multiple untested structural targets beneath shallow cover offer discovery potential
- Christmas Well Project shows promising gold mineralisation with new high-priority targets
- Exploration plans advancing pending tenure grants and data validation
Strategic Acquisition in a Proven Gold District
CGN Resources Limited (ASX, CGR) has announced a significant update on its exploration activities in Western Australia, spotlighting the Panhandle and Christmas Well Projects near Leonora. The Panhandle Project, recently secured by CGN, lies in a highly prospective corridor between two major gold operations, Genesis Minerals’ Ulysses and Gwalia mines. This location places CGN’s tenure within the same gold-bearing stratigraphy that hosts multi-million-ounce deposits, underscoring the project's strategic importance.
High-Grade Gold Intercepts from Historical Drilling
Historical drilling data compiled from government and company reports reveal impressive gold intercepts at Panhandle, including a standout 9 metres grading 20.2 grams per tonne (g/t) gold. These results, primarily from the Pelican prospect, highlight broad supergene mineralisation near surface and deeper primary mineralisation associated with quartz veining and alteration typical of major Leonora deposits. While these data originate from earlier exploration programs by MPI and Kin Mining, CGN has validated the assays and sees strong potential for follow-up drilling.
Untapped Targets Beneath Cover and Along Structural Trends
Much of the Panhandle Project is concealed beneath shallow transported cover, limiting previous exploration effectiveness. CGN has identified multiple untested litho-structural corridors beneath this cover, interpreted to share orientations with controlling structures at nearby major gold mines. These undercover targets represent a compelling opportunity for new discoveries, especially given the limited modern drilling and the presence of significant historical gold anomalies.
Christmas Well Project, Expanding the Leonora Portfolio
To the north of Leonora, the Christmas Well Project also shows promise. Historical drilling confirms gold mineralisation along a major structural corridor that hosts world-class deposits such as Sons of Gwalia and Tarmoola. CGN has delineated new high-priority targets, many of which have never been drilled, particularly along the contact between the Raeside Batholith and the Norseman-Wiluna Greenstone Belt. This underexplored setting, combined with geophysical anomalies, provides a strong framework for future exploration.
Broader Exploration Ambitions and Next Steps
Beyond Leonora, CGN is advancing its Webb Project in the West Arunta Orogen, targeting copper, nickel, and critical metals, and has applied for tenure in the Paterson Province’s Broadhurst Project, focusing on copper-rich systems. For Panhandle and Christmas Well, the company awaits tenure grants to commence reconnaissance aircore and reverse circulation drilling. CGN’s methodical approach to validating historical data and defining targets positions it well to unlock value in these Tier-1 mineral provinces.
Bottom Line?
CGN Resources’ strategic landholdings and high-grade historical gold intercepts set the stage for a potentially transformative exploration campaign in one of Australia’s richest gold provinces.
Questions in the middle?
- When will CGN secure tenure grants to initiate modern drilling programs at Panhandle and Christmas Well?
- How will CGN’s upcoming drilling confirm and expand upon the historical high-grade gold intercepts?
- What is the potential scale and grade continuity of the untested structural targets beneath cover?
