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CGN Resources Limited (ASX:CGR)

ALERT: Price-sensitive ASX Announcement for CGR
Current share price for CGR : $0.051 -0.018 (-26.09%)+
Announcement
Release
3 Mar 2026 9:41AM
Price at Release
$0.069
Full Release
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Summary
CGN Resources Limited has announced its acquisition of the Leonora Project in Western Australia, a significant opportunity within a prolific gold district. The project area, which includes the Panhandle and Christmas Well Projects, is situated near major gold mines and contains high-grade gold prospects such as Gwalia South, Annapurna, Paradise North, and Pelican. Historical drilling indicates the presence of high-grade mineralization, but the area remains underexplored, especially at depth, due to the majority of past drilling focusing on shallow oxide mineralization during lower gold price periods. CGN is now integrating historical geological data to reassess the project using modern exploration techniques, aiming to unlock further potential. The company plans to conduct a 3D geological reinterpretation and prioritize drill targets, with the recent acquisition accelerating its exploration efforts.
Key Points
  • Acquisition of Leonora Project by CGN Resources.
  • Project located in a prolific gold corridor near Gwalia Mine.
  • High-grade gold prospects identified: Gwalia South, Annapurna, Paradise North, Pelican.
  • Historical drilling was mostly shallow; deeper potential remains untested.
  • Modern exploration techniques to be applied for reassessment.
  • 3D geological modeling to guide future exploration efforts.
  • Opportunity to uncover significant gold mineralization at depth.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.