How CGN Resources Is Unlocking Leonora’s Gold Potential with New Tenements
CGN Resources has expanded its foothold in Western Australia's Leonora gold district with new tenement grants and land access agreements, setting the stage for a robust 2026 exploration campaign.
- Multiple tenements granted at Christmas Well, enhancing strategic land control
- Land access agreements executed with Darlot Traditional Owners and Genesis Minerals
- Completion of detailed aeromagnetic survey to refine drill targeting
- Ongoing technical reassessment of Webb Project drill core with results pending
- Strong cash position of approximately A$2.9 million supports near-term drilling plans
Strategic Tenement Gains in Leonora
CGN Resources Limited (ASX, CGR) has made significant strides in its December 2025 quarter activities, notably securing multiple tenements at its Christmas Well project. This expansion delivers full control over several high-priority target areas within the highly prospective Leonora gold district, a region renowned for hosting multi-million-ounce deposits such as Gwalia and King of the Hills.
Alongside these tenure gains, the company successfully executed a Land Access Agreement with the Darlot Traditional Owner group, facilitating unhindered exploration across both the Christmas Well and Panhandle projects. These agreements are critical in advancing on-ground activities while respecting Indigenous custodianship.
Enhanced Geological Understanding and Survey Work
During the quarter, CGN Resources completed a detailed aeromagnetic survey over Christmas Well, providing a modern geophysical framework to sharpen drill targeting. This survey complements the company’s efforts in compiling and digitising historical datasets, enabling a district-scale approach to exploration planning.
At the Webb Project in the Eastern Pilbara, the company continued systematic evaluation of drill core from its 2025 diamond drilling program. This includes geochemical sampling and geochronological analysis, with results awaited. The integration of this new data is expected to refine geological models and prioritise targets for the upcoming 2026 drilling campaign.
Broadhurst Copper Project Progress
CGN Resources also advanced its Broadhurst Project in the Paterson Province, a promising copper exploration opportunity. The company progressed statutory and compliance approvals necessary for tenure grant and commenced historical data compilation and geophysical modelling. These foundational steps position Broadhurst for targeted exploration aimed at unlocking its copper potential.
Financial Position and Outlook
Financially, CGN Resources maintains a robust cash balance of approximately A$2.9 million, underpinning its capacity to fund planned exploration and drilling activities in the near term. Operating expenses for the quarter were managed at around $467,000, reflecting disciplined expenditure across geological review, fieldwork, and stakeholder engagement.
Looking ahead, the company plans to finalise heritage surveys and drill contracts, integrate new geological data, and execute systematic exploration programs across its portfolio. The strategic land acquisitions and technical groundwork laid in 2025 set a solid foundation for potential discoveries in one of Australia’s most prolific gold and base metal provinces.
Bottom Line?
With tenure secured and exploration programs primed, CGN Resources is poised to unlock significant value in 2026’s drilling season.
Questions in the middle?
- When will the Webb Project’s geochemical and geochronological assay results be released?
- How will upcoming heritage surveys impact the timing and scope of drilling programs?
- What are the company’s plans to sustain funding beyond the current cash runway amid exploration expenditures?
