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CGN Resources Ltd. ( (AU:CGR) ) has issued an announcement.
CGN Resources has outlined the exploration potential of its newly consolidated Panhandle Project at the Leonora gold camp in Western Australia, positioned immediately south of the +8Moz Gwalia mine and north of the Ulysses deposit. Historical drilling across four key prospects — Gwalia South, Annapurna, Paradise North and Pelican — has returned multiple high-grade gold intersections above 2 grams per tonne, indicating structurally controlled and lode-style mineralisation within a proven Tier-1 gold setting.
The company notes that about 93% of the project area is concealed under regolith and that roughly two-thirds of some 4,000 historical holes are shallower than 50 metres, leaving deeper primary systems largely untested. Management argues that the combination of high-grade hits, underexplored depth potential and a stronger gold price backdrop presents substantial discovery upside, and plans to deploy modern exploration tools to define new targets and systematically follow up historic intercepts.
More about CGN Resources Ltd.
CGN Resources Ltd. is an Australian mineral exploration company focused on gold projects in Western Australia. Its portfolio now includes the combined Panhandle and Christmas Well projects near Leonora, strategically located between the +8 million ounce Gwalia mine and the roughly 2 million ounce Ulysses operation in one of the state’s most prolific gold corridors.
Average Trading Volume: 107,705
Technical Sentiment Signal: Sell
Current Market Cap: A$7.71M
See more data about CGR stock on TipRanks’ Stock Analysis page.