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CGN RESOURCES LIMITED — Capital/Financing Update 2026
Mar 2, 2026
64643_rns_2026-03-02_9625d721-3776-4ed5-8dd4-9f3e797b12b5.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT 3[rd] March 2026
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New Leonora Project Hosts Underexplored High-Grade Gold Corridor near +8Moz Gwalia Mine
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Highlights:
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Panhandle Project positioned immediately south of the +8Moz Gwalia Gold Mine, within one of Western Australia’s most prolific gold corridors.
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Four defined gold prospects — Gwalia South, Annapurna, Paradise North and Pelican — have returned multiple drill intersections exceeding 2 g/t Au, confirming the presence of high-grade mineralisation.
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~93% of the Project area is concealed beneath regolith that obscures known gold-bearing stratigraphy, meaning significant areas of high prospectivity remain to be tested.
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Of the ~4,000 historical drillholes compiled, ~67% are less than 50m deep and only ~6% exceed 100m, indicating limited testing of deeper primary systems.
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Prospectivity untested at depth as historical drilling was undertaken during a prolonged low gold price environment and focused primarily on shallow oxide mineralisation.
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The combination of high-grade intersections, proximity to a Tier-1 gold systems and shallow historical drilling highlights substantial discovery potential at depth.
CGN Resources Limited (“CGN” or “the Company”) is pleased to provide an update on its recently acquired Leonora Project tenure (ASX release dated 28/01/2026), which represents a significant district-scale growth opportunity within one of Western Australia’s most prolific gold camps (Figure 1).
The Panhandle Project is the combination of the Company’s existing tenure with the newly acquired tenure. This significant package of ground is located immediately south of the +8Moz Gwalia Gold Mine, and directly north of the ~2Moz Ulysses mine placing it within a proven, highly endowed geological setting.
The historical work has delineated at least four significant gold mineralised areas with drill intersections greater than 2 g/t gold; Gwalia South, Annapurna, Paradise North, Pelican (Figure 2). These include:
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3m @ 17.28 g/t gold from 170m depth (Annapurna)
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3m @ 13.27 g/t gold from 42m (Paradise North)
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12m @ 2.04 g/t gold from 48m depth (Paradise North)
As well as the following from the previously announced Pelican historical drilling (ASX release dated 30/10/2025):
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9m @ 20.20 g/t gold from 61m depth
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4m @ 6.19 g/t gold from 45m depth
The best intersections > 2.0 g/t gold from each of these projects is listed in Table 1 below.
These results demonstrate the presence of both structurally controlled gold mineralisation and the potential for higher grade lode-style systems within the Project area.
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT
3[rd] March 2026
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CGN Managing Director Stan Wholley commented:
“This acquisition provides CGN with exposure to a district-scale opportunity immediately south of one of Australia’s most significant gold deposits. Historical work confirms the presence of significant gold mineralisation, yet the Project remains poorly explored at depth and under cover.
With modern exploration tools and a significantly stronger gold price environment than that which prevailed during the majority of historical drilling, we believe the Project presents a compelling opportunity for meaningful discovery. Our focus is now on delivering new high-quality targets and following up historical gold intercepts to systematically evaluate this potential.”
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Christmas Well
Project
Panhandle
Project
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Figure 1. Project Location Plan Christmas Well and Panhandle Projects
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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3[rd] March 2026
ASX ANNOUNCEMENT
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Table 1. Best historical intersections at Panhandle Project (> 2.0 g/t)
| Hole No | Depth From | Depth To | Interval | Gold g/t | Prospect | Hole Type |
|---|---|---|---|---|---|---|
| CWC779 | 170 | 173 | 3 | 17.28 | Annapurna | RC |
| HWA058 | 47 | 48 | 1 | 2.72 | Annapurna | AC |
| ECDD0005 | 325.52 | 326.52 | 1 | 2.63 | Annapurna | DD |
| HWA166 | 35 | 36 | 1 | 2.56 | Annapurna | AC |
| SGD042 | 95.18 | 96.01 | 0.83 | 2.55 | Annapurna | DD |
| ECDD0005 | 260.81 | 261.4 | 0.59 | 2.26 | Annapurna | DD |
| CWA510 | 60 | 63 | 3 | 2.43 | Gwalia South | AC |
| ECDD0005 | 260.81 | 261.4 | 0.59 | 2.26 | Annapurna | DD |
| CWA728 | 42 | 45 | 3 | 13.27 | Paradise North | AC |
| CWA734 | 30 | 33 | 3 | 8.15 | Paradise North | AC |
| CWA757 | 30 | 33 | 3 | 4.40 | Paradise North | AC |
| MEC447 | 107 | 108 | 1 | 3.63 | Paradise North | RC |
| CWA737 | 48 | 52 | 4 | 3.02 | Paradise North | AC |
| CWA578 | 63 | 65 | 2 | 2.86 | Paradise North | AC |
| MEA261 | 39 | 41 | 2 | 2.04 | Paradise North | AC |
| CWA757 | 48 | 60 | 12 | 2.04 | Paradise North | AC |
| HWA037 | 61 | 70 | 9 | 20.20 | Pelican | AC |
| HWRC002 | 111 | 112 | 1 | 9.29 | Pelican | RC |
| HWA115 | 47 | 48 | 1 | 9.23 | Pelican | AC |
| HWA124 | 45 | 49 | 4 | 6.19 | Pelican | AC |
| HWRC001 | 104 | 105 | 1 | 5.64 | Pelican | RC |
| HWRC005 | 110 | 111 | 1 | 5.60 | Pelican | RC |
| HWRC003 | 53 | 54 | 1 | 4.57 | Pelican | RC |
| HWA117 | 44 | 45 | 1 | 3.01 | Pelican | AC |
| HWRC010 | 94 | 95 | 1 | 2.66 | Pelican | RC |
| HWRC016 | 46 | 48 | 2 | 2.23 | Pelican | RC |
| HWA038 | 56 | 61 | 5 | 2.20 | Pelican | AC |
| HWA125 | 47 | 50 | 3 | 2.07 | Pelican | AC |
Intervals are down hole, not true width which is unknown Intervals calculated using 0.5 g/t cut-off grade with no internal dilution
Typical sections through Annapurna, Paradise North and South Gwalia are provided in Appendix 2 and Pelican results and sections were subject to a previous ASX release dated 30/10/2025.
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT
3[rd] March 2026
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Gwalia South
Annapurna
Paradise North
Pelican
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Figure 2. Location of all historical drill holes at Panhandle coloured by grade intervals at using 0.5 g/t gold cut-off.
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT 3[rd] March 2026
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Most of the drilling within the Panhandle Project was completed prior to the early 2000s, during a sustained period of comparatively low gold prices. Exploration at the time was largely directed toward shallow oxide gold mineralisation, reflecting both the early stage greenfields nature of the district and the limited economic incentive to test for deeper primary gold systems under prevailing gold price conditions.
Furthermore, majority of this work was concentrated along the southern extension of the granitegreenstone contact that hosts the +8Moz Gwalia Gold Mine, located approximately 2km north of the Project area (Figure 2). As a result, the Project remains relatively underexplored at depth, presenting opportunities for modern exploration approaches.
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Figure 3. Panhandle Project plan with distribution of holes deeper than 100m and areas of transported cover and outcrop/subcrop (simplified from GSWA 1:250k mapping).
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT 3[rd] March 2026
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Approximately 93% of the Project area is interpreted to be covered by transported regolith, obscuring the underlying bedrock geology (Figure 3) and may provide a reason for the lack of historical exploration over large areas of the package. Of the approximately 4,000 historical drillholes completed across the Project, around two-thirds were less than 50 metres deep and only approximately 6% exceeded 100 metres (Figure 3). This shallow drilling profile reflects the historical focus on oxide mineralisation during a prolonged low gold price era and indicates limited systematic testing of deeper primary gold systems.
The integration of the acquired geological and exploration datasets into CGN’s existing database is well advanced. The acquisition delivered an extensive historical exploration dataset, including pre-2000 drillhole collar and assay data that has already been digitised from original paper records. This provides CGN with immediate access to a comprehensive dataset and materially accelerates the Company’s ability to reassess the Project using modern exploration techniques.
The current gold price environment represents a materially different backdrop to that which existed during the majority of historical exploration across the Project. Much of the drilling undertaken in the 1990s occurred during a prolonged low gold price cycle, which constrained exploration budgets and limited systematic testing of deeper primary gold systems. In contrast, today’s stronger gold price setting enhances the economic potential of deeper mineralisation and supports the application of modern exploration techniques to reassess historically under-tested areas.
The combination of:
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proximity to multiple Tier-1 gold systems;
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widespread transported cover with limited testing of underlying prospective geology;
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predominantly shallow historical drilling failing to test for deeper primary systems; and
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Abundant and significant high-grade intersections demonstrating regional gold fertility.
suggests that significant portions of the Project remain highly prospective and remain effectively untested for deeper primary gold mineralisation and under areas of transported cover.
CGN is now undertaking a comprehensive geological reinterpretation integrating historical drilling with available geophysical datasets to generate a project-scale 3d geological model. This work will underpin prioritised drill targeting designed to systematically evaluate both bulk-tonnage and high-grade gold opportunities across the Project.
The Company is also currently working on getting the new tenure into its existing Heritage Agreement and is also commenced Heritage Survey planning to carry out drilling within the Pelican area.
The Company believes the Leonora acquisition positions CGN with a compelling opportunity to unlock value through modern exploration within a proven gold district.
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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3[rd] March 2026
ASX ANNOUNCEMENT
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Leonora Project Overview
The Company’s Christmas Well and Panhandle Projects near Leonora in Western Australia represent a highly strategic and prospective ground package in the prolifically endowed Leonora Goldfield ( Figure 4 ). The project areas contain the same stratigraphy and structures that host major gold mines in the district such as the 8 Moz Gwalia Mine, the 2 Moz Tower Hill Mine, the 4Moz King of the Hills Mine and many smaller gold mines and deposits. Historical drilling demonstrates the area is highly fertile for gold with many multi-metre, multi-gram gold intercepts. And although h areas have been significantly tested many of the areas beneath cover with the right stratigraphy and structures remain untested. The mix of the right rocks, high fertility and poor systematic testing provides a strong platform for new discovery within the tenure.
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Figure 4. Christmas Well and Panhandle project location plan over the regional 1VD geophysics.
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT 3[rd] March 2026
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ENDS
This announcement has been authorised by the Board of Directors of the Company.
For Further Information, Please Contact:
Mr Stan Wholley Mr Grant Mooney Managing Director Non-Executive Director / Company Secretary Tel: +61 421 109 664 Tel: +61 8 9226 0085 [email protected] [email protected]
Forward-Looking Statements
This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning CGN Resources Limited’s planned exploration programme and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may,” "potential," "should," and similar expressions are forward-looking statements. Although CGN Resources Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements.
Competent Person’s Statement
The information in this announcement that relates to Exploration Results for the Webb Project is based on, and fairly represents, information compiled by Mr Jordan Luckett, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr Luckett is an employee of CGN Resources Limited and owns shares in the Company. Mr Luckett has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Mr Luckett consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT
3[rd] March 2026
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APPENDIX 1 - JORC CODE, 2012 EDITION, TABLE 1
Section 1 – Sampling Techniques and Data
| Sampling techniques |
• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems • used. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information |
The historical drilling comprised reverse circulation (RC), aircore, rotary air blast (RAB), auger and limited diamond drilling. Review of the available historical reports indicates that drilling, sampling and data recording were generally conducted in accordance with industry practices prevailing at the time. However, detailed QAQC procedures are not comprehensively documented and the extent of quality control measures applied cannot be fully verified. For RAB, aircore and RC drilling, drill spoil (chips) was collected via a cyclone and typically laid out on the ground in rows representing 1-metre intervals. Sampling intervals were generally between 1m and 4m in length. The specific sampling technique (e.g. riffle splitting, spear sampling or composite sampling) is not consistently documented in the historical reports. For Auger the sampling technique was not determined, however these only represent 2% of the total drilling and are not considered material Where elevated gold values were identified in composite intervals greater than 1 metre, follow-up resampling at shorter intervals was undertaken in some instances, although the procedures applied are not fully described in all reports. Samples were submitted to several commercial laboratories for analysis. Some of these laboratories are no longer in operation, and detailed analytical methodologies are not comprehensively documented in the available records. Diamond drill core size is not recorded for all holes. Available reports indicate that core was logged and selectively sampled based on geological interpretation, with intervals typically cut in half (half-core sampling) prior to submission for analysis. The measures taken to ensure sample representivity in the historical drilling are not consistently documented and therefore cannot be independently verified. |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT 3[rd] March 2026
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| Drilling techniques |
• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). |
The breakdown of historical drilling techniques within the Project area is summarised below: Hole Type Count % RAB 1749 44% Aircore 1908 48% Diamond 42 1% RC 209 5% Auger 88 2% Unknown 2 0% Total 3998 Core size, orientations and method (triple tube etc) were not always recorded in the historical reports Hole sizes, bit or hammer type (face sampling, drag, etc) were not always recorded in the historical reports |
|---|---|---|
| Drill sample recovery |
• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative n a t u r e o f t h e samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. |
Sample recovery data for the historical drilling is not comprehensively documented in the available reports and therefore cannot be independently verified. Measures taken by previous operators to maximise sample recovery are not specifically recorded in the historical documentation. Based on the standard of reporting and data presentation, it is considered reasonable to conclude that drilling and sampling were undertaken in accordance with industry practices prevailing at the time; however, detailed recovery statistics and recovery procedures are not available. The Competent Person has reviewed the available historical data and considers that, in the absence of documented recovery concerns or evident sample bias in the reported results, the drill sample recovery is unlikely to materially impact the reliability of the reported intersections. No obvious sample bias has been identified in the historical data reviewed by CGN. |
| Logging | • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged |
Drill chips from RC, aircore (AC) and RAB holes, and core from diamond drilling, were geologically logged by previous operators. Where available, recorded geological data includes lithology, grain size, texture, colour, alteration and sulphide content. Logging was typically undertaken at 1-metre intervals. The logging completed by previous operators appears to have been primarily qualitative in nature. Based on inspection of historical reports and available geological log data, drillholes completed by previous explorers, including diamond core holes, appear to have been logged in full. The Competent Person considers that the level of geological logging detail is appropriate for reporting the Exploration Results contained in this announcement. However, the geological dataset is not currently of sufficient detail or consistency to support a Mineral Resource Estimation. |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT 3[rd] March 2026
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| Sub-sampling techniques and sample preparation |
• If core, whether cut or sawn and whether quarter, half or all coretaken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. |
Review of the available historical reports indicates that drilling, sampling and data recording were generally conducted in accordance with industry practices prevailing at the time. For diamond drilling, the size of core and the proportion sampled (e.g. quarter or half core) are not consistently recorded in the historical reports. Available documentation indicates that core was cut prior to submission for laboratory analysis; however, the exact sampling configuration cannot be confirmed. For RC, aircore (AC) and RAB drilling, the specific sample collection and reduction techniques are not comprehensively described in the majority of reports. While historical industry practice commonly involved riffle splitting of 1-metre RC and AC samples and spear sampling of composite intervals, the precise methods applied for all drilling campaigns cannot be independently verified. Sample moisture condition (wet or dry) was recorded in most reports. Detailed QAQC procedures are not comprehensively documented, and the extent of quality control measures applied cannot be fully verified. Measures taken by previous operators to ensure sampling was representative of in-situ material are not specifically recorded in the available documentation. It is considered reasonable to conclude that drilling and sampling were undertaken in accordance with industry practices prevailing at the time, including the use of sample sizes appropriate to the drilling method. However, detailed sampling statistics, recovery data and QAQC procedures are not available. |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT
3[rd] March 2026
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| Quality of assay data and laboratory tests |
• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. |
A total of 53,665 historical assay records are contained within the historical database. Assay method and laboratory details are not consistently recorded across all historical datasets. A breakdown of the reported assay methods is summarised below: Assay Method Count % fire Assay - unknown charge – AAS finish 522 1.0% aqua regia digest - ICPMS finish 1,862 3.5% fire assay - unknown charge - ICPMS finish 2,061 3.8% unknown 41,437 77.2% fire assay - 50 g charge - unknown finish 27 0.1% aqua regia digest - AAS finish 5,564 10.4% fire assay - 50 g charge - AAS finish 1,034 1.9% aqua regia - unknown finish 1,092 2.0% B/ETA - unknown size and finish 40 0.1% fire assay - unknown charge or finish 16 0.0% Total 53,655 *Total reflects available assay records within the compiled historical dataset. Historical documentation does not comprehensively describe QAQC procedures applied by previous explorers. The extent of field-inserted standards, blanks, duplicates or laboratory quality control measures cannot be independently verified. Based on the laboratories referenced in historical reports (including ALS and Genalysis), it is reasonable to conclude that industry-standard analytical procedures prevailing at the time were applied; however, detailed QAQC performance statistics are not available. The Competent Person has reviewed the available historical data and, in the absence of documented analytical issues or evident assay inconsistencies within the dataset, considers the assay results to be suitable for reporting Exploration Results. The dataset is not currently relied upon for Mineral Resource Estimation. Significant gold intercepts referenced in this announcement have been reviewed and validated by CGN geologists against available original reports and data tables. |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT
3[rd] March 2026
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| Verification of sampling and assaying |
• The verification of significant intersection by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. |
The historical exploration data has been compiled from reports and data files submitted to the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS). Depending on the age of reporting, data was originally lodged as either paper documentation and/or digital data files. The historical data cannot be independently verified in its entirety. However, significant results referenced in this announcement have been reviewed by CGN geologists against available original reports and source documentation. No material adjustments have been made to the historical assay data as reported by previous explorers. |
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| Location of data points |
• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. |
The collar survey method for historical drillholes is not consistently documented in the available reports, and the accuracy of collar coordinates is not specified in most cases. Historical drilling was undertaken over a period during which coordinate reference systems in Western Australia transitioned from AMG84 Zone 51 to GDA94 Zone 51, and more recently to GDA2020 Zone 51. Most historical collar data was recorded in either AMG84 Zone 51 or GDA94 Zone 51. Where collar coordinates were originally reported in AMG84, they have been converted to GDA94 Zone 51 for consistency within the compiled database. All spatial data presented in this report is referenced to GDA94 Zone 51. Topographic control has been derived from Shuttle Radar Topography Mission (SRTM) digital elevation data. The change in datum from AMG84 to GDA94 represents a systematic horizontal shift of approximately 100–200 metres in this region. Conversion of AMG84 coordinates to GDA94 has been undertaken during data compilation; however, minor residual positional uncertainty may remain due to limitations in historical documentation and survey methods. |
| Data spacing and distribution |
• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate • for the Mineral Resource and OreReserve estimation procedure(s)and classifications applied. • Whether sample compositing has been applied. |
The data spacing and distribution of the historical data are not sufficient to establish geological and grade continuity appropriate for the estimation of a Mineral Resource. While the historical drilling provides support for the presence of gold mineralisation within the Project area, the current drill density and geological understanding of mineralisation controls are not adequate to support a Mineral Resource Estimation. See previous sections for comments on sample compositing |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT
3[rd] March 2026
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| Orientation of data in relation to geological structure |
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
Given the early stage of historical exploration, drillhole orientations varied between campaigns as operators sought to better understand the geological architecture and potential mineralisation controls. Vertical drilling was effective in identifying shallow, sub-horizontal supergene mineralisation. Inclined drillholes were generally designed to be oriented to intersect mineralisation approximately perpendicular to the interpreted geological strike. While drilling appears to have been designed to test the interpreted structural framework at the time, the effectiveness of hole orientation relative to true mineralisation geometry cannot be fully assessed based on available historical documentation. |
|---|---|---|
| Sample security |
The measures taken to ensure sample security. |
No specific information regarding sample security or chain of custody procedures has been identified in the available historical reports. Based on the absence of reported discrepancies and the standard of data presentation within the historical documentation, the Competent Person considers it reasonable to conclude that industry-standard sample handling procedures prevailing at the time were likely applied. However, the exact chain of custody protocols cannot be independently verified. |
| Audits or reviews |
The results of any audits or reviews of sampling techniques and data. |
Not applicable to historical data |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT 3[rd] March 2026
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Section 2 Reporting of Exploration Results
| Section 2 Reporting of Exploration Results | Section 2 Reporting of Exploration Results | Section 2 Reporting of Exploration Results |
|---|---|---|
| (Criteria listed in the preceding section also apply to this section.) | ||
| Criteria | JORC Code explanation | Commentary |
| Mineral tenement and land tenure status |
• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park andenvironmental settings. • The security of the tenure held at the time of reporting along with any known impediments to o b t a i n i n g a l i c e n c e t o • operate in the area. |
The Panhandle Project is located within the Leonora district of Western Australia. The Project tenements are subject to two registered Native Title claimant groups: the Darlot Native Title Claim Group and the Nyalpa Pirniku Native Title Claim Group. CGN has an existing Heritage Agreement in place with the Darlot Group covering four tenements. The Company is progressing incorporation of the newly acquired tenure into this existing agreement and is consulting with the relevant Native Title representatives in accordance with statutory requirements. CGN is also engaging with the Nyalpa Pirniku Group to finalise a Heritage Agreement covering the tenements located within that claimant area, in accordance with statutory requirements. Panhandle Project – Tenement Summary Ten. No Status Area (km2) Native Title Group Agreement P 40/1464 Live 1.54 Darlot No P 40/1527 Live 1.94 Darlot No P 40/1526 Live 1.94 Darlot/Nyalpa Pirniku No/No P 40/1540 Live 1.47 Darlot No E 37/1156 Live 6.01 Darlot No E 37/1201 Live 12.02 Darlot No E 37/1203 Live 11.4 Darlot No E 37/1315 Live 6.03 Darlot No M 40/330 Live 3.21 Darlot No E 37/1611 Pending 9.01 Darlot/Nyalpa Pirniku No/No E 37/1587 Pending 3 Darlot Yes E 37/1567 Live 18.02 Darlot Yes E 37/1610 Pending 39.05 Darlot/Nyalpa Pirniku No/No M 40/346 Live 1.86 Darlot/Nyalpa Pirniku No/No E 37/1402 Live 12.66 Darlot No P 37/9657 Live 0.92 Darlot No P 37/9658 Live 1.54 Darlot No E 40/472 Pending 36.01 Darlot/Nyalpa Pirniku Yes/No E 40/454 Live 7.49 Darlot/Nyalpa Pirniku Yes/No E 37/1326 Live 60.07 Darlot/Nyalpa Pirniku No/No P 40/1525 Live 1.89 Darlot/Nyalpa Pirniku No/No E 40/369 Live 9 Darlot No M 37/1380 Pending 2.75 Darlot No E 40/366 Live 6 Darlot/Nyalpa Pirniku No/No P 37/8500 Live 1.98 Darlot No P 37/8504 Live 0.77 Darlot No Total 257.58 There are no known impediments to progressing the applications to grant of the licences or to obtaining and licence to operate. |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT
3[rd] March 2026
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Exploration done by other parties |
Acknowledgment and appraisal of exploration by other parties. |
Historical Exploration Activity The Panhandle Project has a long history of gold exploration and small-scale extraction dating back to the late 19th century. The majority of modern exploration has been undertaken by: • MPI Ltd • Kin Mining Ltd • Sons of Gwalia Ltd • St Barbara Ltd • SensOre Ltd • Dalrymple Holdings Ltd • Melita Mining • Cons Gold Ltd • Genesis Minerals Ltd Summary of Historical Drilling by Year The majority of drilling occurred between1982 and 1998, with notable peaks in: • 1984 (418 holes – predominantly RAB) • 1997 (810 holes – predominantly AC) • 1995 (340 holes – AC and RC) Post-2000 drilling activity was limited and intermittent. Summary of Historical Hole Depths Analysis of historical hole depths indicates a strong bias toward shallow drilling: Depth(m) No Holes % > 0 3998 100% > 50 1420 36% > 75 764 19% > 100 223 6% |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT
3[rd] March 2026
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Geology | • Deposit type, geological setting and style of mineralisation. |
The Desdemona Project area covers the western portion of the Melita Greenstone Belt, including the sheared granite–greenstone contact. The area comprises a typical Archaean greenstone sequence metamorphosed to greenschist to lower amphibolite facies and intruded by numerous sill-like mafic and ultramafic bodies. The greenstone stratigraphy is dominated by basaltic lavas, rhyolites and dacites, with dolerites and gabbros representing the principal intrusive units. The stratigraphy generally strikes NNE–SSW and is offset by several strike-slip fault systems. In the southeastern portion of the Project, the greenstone sequence forms part of a large, open, easterly plunging syncline with a northeast-trending fold axis. Gold mineralisation intersected to date is associated with quartz veining within both felsic and mafic host rocks and is interpreted to be structurally controlled, although the precise controls remain to be fully defined. Regionally, the Gwalia Shear Zone (GSZ) strikes sub-parallel to the Mt George Shear Zone (MGSZ), with the two shear systems converging in the northern portion of the Panhandle Project area. Major gold deposits in the Leonora district are predominantly located west of the MGSZ, including Sons of Gwalia, Tower Hill, Harbour Lights and King of the Hills. To the south of the Project, the Ulysses, Admiral and Orient Well deposits occur within the same mafic stratigraphic sequence that extends through the Panhandle area, with mineralisation displaying varying degrees of structural control. The majority of the Panhandle Project is overlain by transported cover, comprising clay-rich overburden and alluvial or aeolian sands, with limited bedrock outcrop. Consequently, the solid geology has been interpreted from sparse outcrop, historical drillhole logging, previous exploration work and aeromagnetic data (Figure 4). The Competent Person considers that the geological setting has been adequately evaluated and appropriately described for the purposes of reporting Exploration Results. |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT
3[rd] March 2026
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Drill hole Information |
• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of • the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is thecase. |
See Appendix 2 The Competent Person is satisfied that drillhole information has been adequately considered, and material information has been appropriately described. |
| Data aggregation methods |
• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut- off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such • aggregation should be stated, and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated. |
All reported intersections represent downhole lengths, and the true width of mineralisation cannot be determined with confidence based on available drilling information. Intercepts have been calculated using a 0.5 g/t Au lower cut-off grade, with no internal dilution and no upper cut-off (top-cut) applied. Metal equivalent values are not currently being reported. |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT
3[rd] March 2026
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Relationship between mineralisation widths and intercept lengths |
• These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’). |
Significant intercepts reported are down hole lengths only. True width is not known. |
| Diagrams | • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
Refer to figures in the body of text for plan maps of the location of relevant sample or hole locations. Typical sections provided in Appendix 2 |
| Balanced reporting |
• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced avoiding misleading reporting of Exploration Results. |
All currently known significant historical drill assay data has been reported. |
| Other substantive exploration data |
• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density,groundwater, geotechnical and rock characteristics potential deleterious or contaminating substances. |
All material exploration data relevant to the reported Exploration Results has been disclosed in the main body of this report. The Company is not aware of any additional information relating to geological observations, geophysical surveys, geochemical surveys, metallurgical test work, bulk density, geotechnical characteristics, groundwater conditions or potentially deleterious elements that would materially affect the interpretation of the reported results. |
| Further work | The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological _interpretations a n d f u t u r e _ |
The Company intends to undertake further geological reinterpretation and target generation based on integration of historical drilling and geophysical datasets. Follow-up drilling may be undertaken to test interpreted extensions of mineralisation where warranted. |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT 3[rd] March 2026
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Appendix 2
Historical drilling significant gold Intercepts greater than 0.5 g/t Au with no internal dilution, down Hole widths, true widths not known, Co-ordinates are in reported in GDA94 Zone 51 projection
| Hole No | East | North | From | To | Grade (Aug/t) |
Interval (m) |
Prospect | Hole **Type ** |
|---|---|---|---|---|---|---|---|---|
| HWA037 | 339769 | 6778850 | 61 | 70 | 20.20 | 9 | Pelican | AC |
| CWC779 | 337191 | 6793119 | 170 | 173 | 17.28 | 3 | Annapurna | RC |
| CWA728 | 339409 | 6791025 | 42 | 45 | 13.27 | 3 | Paradise North | AC |
| HWRC002 | 339678 | 6778858 | 111 | 112 | 9.29 | 1 | Pelican | RC |
| HWA115 | 339337 | 6778698 | 47 | 48 | 9.23 | 1 | Pelican | AC |
| CWA734 | 339170 | 6790857 | 30 | 33 | 8.15 | 3 | Paradise North | AC |
| HWA124 | 340057 | 6778938 | 45 | 49 | 6.19 | 4 | Pelican | AC |
| HWRC001 | 339769 | 6778850 | 104 | 105 | 5.64 | 1 | Pelican | RC |
| HWRC005 | 339677 | 6778838 | 110 | 111 | 5.60 | 1 | Pelican | RC |
| HWRC003 | 339796 | 6778858 | 53 | 54 | 4.57 | 1 | Pelican | RC |
| CWA757 | 339268 | 6791165 | 30 | 33 | 4.40 | 3 | Paradise North | AC |
| MEC447 | 339117 | 6790620 | 107 | 108 | 3.63 | 1 | Paradise North | RC |
| RRC0030 | 347255 | 6797614 | 35 | 36 | 3.54 | 1 | Raeside | RC |
| CWA737 | 339132 | 6790704 | 48 | 52 | 3.02 | 4 | Paradise North | AC |
| HWA117 | 339177 | 6778698 | 44 | 45 | 3.01 | 1 | Pelican | AC |
| CWA578 | 339260 | 6791014 | 63 | 65 | 2.86 | 2 | Paradise North | AC |
| HWA058 | 340179 | 6779615 | 47 | 48 | 2.72 | 1 | Central Well | AC |
| HWRC010 | 339723 | 6779032 | 94 | 95 | 2.66 | 1 | Pelican | RC |
| ECDD0005 | 337818 | 6794420 | 325.52 | 326.52 | 2.63 | 1 | Elcapitan | DD |
| HWA166 | 339657 | 6779498 | 35 | 36 | 2.56 | 1 | Central Well | AC |
| SGD042 | 337395 | 6796236 | 95.18 | 96.01 | 2.55 | 0.83 | Annapurna | DD |
| CWA510 | 336865 | 6796353 | 60 | 63 | 2.43 | 3 | Central Well | AC |
| ECDD0005 | 337818 | 6794420 | 260.81 | 261.4 | 2.26 | 0.59 | Elcapitan | DD |
| HWRC016 | 339913 | 6779079 | 46 | 48 | 2.23 | 2 | Pelican | RC |
| HWA038 | 339842 | 6778848 | 56 | 61 | 2.20 | 5 | Pelican | AC |
| HWA125 | 339977 | 6779018 | 47 | 50 | 2.07 | 3 | Pelican | AC |
| MEA261 | 339039 | 6790596 | 39 | 41 | 2.04 | 2 | Paradise North | AC |
| CWA757 | 339268 | 6791165 | 48 | 60 | 2.04 | 12 | Paradise North | AC |
| RRC0026 | 346540 | 6798044 | 19 | 20 | 1.95 | 1 | Pelican | RC |
| ECDD0006 | 337419 | 6793122 | 322.68 | 323.82 | 1.92 | 1.14 | Elcapitan | DD |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
----- End of picture text -----
ASX ANNOUNCEMENT 3[rd] March 2026
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| Hole No | East | North | From | To | Grade (Aug/t) |
Interval (m) |
Prospect | Hole **Type ** |
|---|---|---|---|---|---|---|---|---|
| HWD001 | 339737 | 6778783 | 56 | 60 | 1.80 | 4 | Pelican | DD |
| HWRC003 | 339796 | 6778858 | 51 | 52 | 1.74 | 1 | Pelican | RC |
| HWA038 | 339842 | 6778848 | 51 | 55 | 1.74 | 4 | Pelican | AC |
| CEC005 | 337538 | 6796402 | 35 | 36 | 1.71 | 1 | Annapurna | RC |
| HWA039 | 339917 | 6778842 | 43 | 45 | 1.71 | 2 | Pelican | AC |
| GS16RC003 | 337234 | 6793268 | 54 | 55 | 1.68 | 1 | Annapurna | RC |
| HWRC006 | 339717 | 6778838 | 63 | 64 | 1.62 | 1 | Pelican | RC |
| HWA128 | 339737 | 6779018 | 42 | 45 | 1.62 | 3 | Pelican | AC |
| CWC765 | 337367 | 6794200 | 76 | 77 | 1.60 | 1 | Annapurna | RC |
| 21DSAC0181 | 336781 | 6776956 | 70 | 71 | 1.60 | 1 | Egret | AC |
| HWRC009 | 339697 | 6778858 | 50 | 55 | 1.58 | 5 | Pelican | RC |
| CWA624 | 337204 | 6793771 | 95 | 98 | 1.54 | 3 | Annapurna | AC |
| HWA090 | 340178 | 6780108 | 36 | 37 | 1.51 | 1 | Desdemona | AC |
| OWD004 | 338830 | 6789679 | 41 | 43 | 1.50 | 2 | Desdemona | DD |
| 20DSAC061 | 337505 | 6780906 | 57 | 58 | 1.49 | 1 | Hotspot | AC |
| HWRC017 | 339942 | 6779049 | 68 | 70 | 1.43 | 2 | Pelican | RC |
| PL14RC003 | 339943 | 6779059 | 110 | 112 | 1.43 | 2 | Pelican | RC |
| HWA038 | 339842 | 6778848 | 32 | 33 | 1.42 | 1 | Pelican | AC |
| PL14RC003 | 339943 | 6779059 | 69 | 70 | 1.42 | 1 | Pelican | RC |
| CWC786 | 337197 | 6793168 | 183 | 184 | 1.39 | 1 | Annapurna | RC |
| SGP025 | 339111 | 6790702 | 46 | 48 | 1.39 | 2 | Paradise North | RC |
| CWD776 | 337422 | 6793786 | 149 | 150 | 1.36 | 1 | Annapurna | DD |
| HWA038 | 339842 | 6778848 | 46 | 47 | 1.36 | 1 | Pelican | AC |
| SGR012 | 337314 | 6796386 | 10 | 14 | 1.35 | 4 | Annapurna | RAB |
| ECDD0005 | 337818 | 6794420 | 435.99 | 436.6 | 1.35 | 0.61 | Elcapitan | DD |
| HWRC010 | 339723 | 6779032 | 67 | 69 | 1.35 | 2 | Pelican | RC |
| MER394 | 339489 | 6789928 | 21 | 27 | 1.34 | 6 | Melita | AC |
| MEA394 | 339489 | 6789928 | 21 | 27 | 1.34 | 6 | Melita | AC |
| CWC769 | 337116 | 6793128 | 129 | 130 | 1.29 | 1 | Annapurna | RC |
| CWC773 | 339209 | 6790727 | 83 | 84 | 1.29 | 1 | Paradise North | RC |
| HWRC016 | 339913 | 6779079 | 24 | 26 | 1.27 | 2 | Pelican | RC |
| CWC791 | 339068 | 6790696 | 25 | 28 | 1.25 | 3 | Paradise North | RC |
| HWRC030 | 339493 | 6778768 | 62 | 64 | 1.24 | 2 | Pelican | RC |
| HWRC006 | 339717 | 6778838 | 65 | 66 | 1.22 | 1 | Pelican | RC |
| HWRC010 | 339723 | 6779032 | 38 | 40 | 1.21 | 2 | Pelican | RC |
| CWC782 | 337642 | 6794405 | 198 | 199 | 1.19 | 1 | Annapurna | RC |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
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ASX ANNOUNCEMENT 3[rd] March 2026
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| Hole No | East | North | From | To | Grade (Aug/t) |
Interval (m) |
Prospect | Hole **Type ** |
|---|---|---|---|---|---|---|---|---|
| HWRC014 | 339808 | 6778947 | 85 | 86 | 1.19 | 1 | Pelican | RC |
| OWP016 | 338544 | 6788856 | 21 | 28 | 1.18 | 7 | Desdemona | RC |
| 20DSRC011D | 338657 | 6789270 | 31 | 33 | 1.18 | 2 | DD | |
| CWA734 | 339170 | 6790857 | 24 | 27 | 1.18 | 3 | Paradise North | AC |
| CWA221 | 336454 | 6795120 | 90 | 96 | 1.18 | 6 | Central Well | AC |
| SGP024 | 338359 | 6788642 | 36 | 37 | 1.17 | 1 | Desdemona | RC |
| HWA144 | 340057 | 6779178 | 29 | 30 | 1.17 | 1 | Pelican | AC |
| SGP017 | 338537 | 6788956 | 21 | 22 | 1.16 | 1 | Desdemona | RC |
| CWC784 | 337058 | 6793118 | 63 | 64 | 1.15 | 1 | Annapurna | RC |
| ECDD0006 | 337419 | 6793122 | 325.2 | 326 | 1.15 | 0.8 | Elcapitan | DD |
| SGP035 | 338824 | 6789278 | 68 | 69 | 1.14 | 1 | Desdemona | RC |
| MER422 | 338806 | 6789678 | 24 | 30 | 1.13 | 6 | Melita | RAB |
| HWA037 | 339769 | 6778850 | 72 | 76 | 1.12 | 4 | Pelican | AC |
| 20DSRC011D | 338657 | 6789270 | 34 | 37 | 1.12 | 3 | DD | |
| SGP019 | 338584 | 6788859 | 27 | 28 | 1.11 | 1 | Desdemona | RC |
| RRC0043 | 347296 | 6797603 | 40 | 42 | 1.11 | 2 | Raeside | RC |
| HWA130 | 339577 | 6779018 | 14 | 15 | 1.10 | 1 | Pelican | AC |
| OWP016 | 338544 | 6788856 | 15 | 19 | 1.10 | 4 | Desdemona | RC |
| HWA102 | 339577 | 6778778 | 46 | 48 | 1.10 | 2 | Pelican | AC |
| CWA500 | 336475 | 6795523 | 93 | 103 | 1.07 | 10 | Central Well | AC |
| OWP003 | 338780 | 6789675 | 60 | 62 | 1.06 | 2 | Desdemona | RC |
| CWC781 | 339368 | 6791172 | 100 | 102 | 1.04 | 2 | Paradise North | RC |
| CWA096 | 336695 | 6791127 | 39 | 43 | 1.02 | 4 | Central Well | AC |
| HWRC001 | 339769 | 6778850 | 50 | 51 | 1.02 | 1 | Pelican | RC |
| HWA125 | 339977 | 6779018 | 6 | 8 | 1.00 | 2 | Pelican | AC |
| HWRC002 | 339678 | 6778858 | 47 | 48 | 1.00 | 1 | Pelican | RC |
| OWP016 | 338544 | 6788856 | 30 | 31 | 0.99 | 1 | Desdemona | RC |
| HWA037 | 339769 | 6778850 | 53 | 54 | 0.98 | 1 | Pelican | AC |
| HWRC025 | 340228 | 6779239 | 68 | 70 | 0.98 | 2 | Pelican | RC |
| 20DSAC060 | 339689 | 6778443 | 46 | 49 | 0.97 | 3 | Pelican | AC |
| PD16RC001 | 339328 | 6791203 | 47 | 48 | 0.97 | 1 | Paradise North | RC |
| CWC766 | 337447 | 6794206 | 111 | 112 | 0.95 | 1 | Annapurna | RC |
| HWRC011 | 339751 | 6779004 | 40 | 44 | 0.95 | 4 | Pelican | RC |
| MEC453 | 338556 | 6789274 | 64 | 66 | 0.95 | 2 | Melita | RC |
| OWP003 | 338780 | 6789675 | 53 | 57 | 0.94 | 4 | Desdemona | RC |
| HWA038 | 339842 | 6778848 | 48 | 50 | 0.93 | 2 | Pelican | AC |
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Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
----- End of picture text -----
ASX ANNOUNCEMENT 3[rd] March 2026
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| Hole No | East | North | From | To | Grade (Aug/t) |
Interval (m) |
Prospect | Hole **Type ** |
|---|---|---|---|---|---|---|---|---|
| OWD001 | 338681 | 6789668 | 118 | 119 | 0.92 | 1 | Desdemona | DD |
| SGP034 | 338650 | 6789465 | 15 | 16 | 0.92 | 1 | Desdemona | RC |
| MBA195 | 336190 | 6790489 | 30 | 32 | 0.92 | 2 | Desdemona | AC |
| CWC773 | 339209 | 6790727 | 85 | 86 | 0.91 | 1 | Paradise North | RC |
| CWA495 | 336503 | 6795124 | 93 | 96 | 0.91 | 3 | Central Well | AC |
| CWA734 | 339170 | 6790857 | 42 | 48 | 0.90 | 6 | Paradise North | AC |
| HWRC007 | 339697 | 6778878 | 69 | 70 | 0.90 | 1 | Pelican | RC |
| ECDD0005 | 337818 | 6794420 | 344.82 | 345.21 | 0.89 | 0.39 | Elcapitan | DD |
| HWA106 | 339897 | 6778778 | 49 | 50 | 0.89 | 1 | Pelican | AC |
| GS16RC009 | 337280 | 6793274 | 96 | 100 | 0.86 | 4 | Annapurna | RC |
| PD16RC001 | 339328 | 6791203 | 73 | 74 | 0.86 | 1 | Paradise North | RC |
| RRC0042 | 347267 | 6797575 | 10 | 11 | 0.86 | 1 | Raeside | RC |
| MEA278 | 338600 | 6789061 | 24 | 26 | 0.85 | 2 | Melita | AC |
| HWRC017 | 339942 | 6779049 | 8 | 12 | 0.85 | 4 | Pelican | RC |
| GGDD0011 | 337719 | 6796415 | 263.42 | 263.82 | 0.84 | 0.4 | Annapurna | DD |
| MBC456 | 336314 | 6790699 | 43 | 44 | 0.84 | 1 | Central Well | RC |
| RRC0042 | 347267 | 6797575 | 31 | 33 | 0.84 | 2 | Raeside | RC |
| HWA123 | 339977 | 6778778 | 64 | 67 | 0.83 | 3 | Pelican | AC |
| CWA316 | 338160 | 6792337 | 63 | 66 | 0.82 | 3 | Central Well | AC |
| CWC779 | 337191 | 6793119 | 193 | 194 | 0.82 | 1 | Annapurna | RC |
| HWA075 | 339750 | 6779879 | 36 | 37 | 0.82 | 1 | Desdemona | AC |
| CWC766 | 337447 | 6794206 | 116 | 117 | 0.81 | 1 | Annapurna | RC |
| HWA104 | 339737 | 6778778 | 25 | 26 | 0.81 | 1 | Pelican | AC |
| ECDD0005 | 337818 | 6794420 | 242.77 | 243.77 | 0.80 | 1 | Elcapitan | DD |
| HWRC007 | 339697 | 6778878 | 39 | 40 | 0.80 | 1 | Pelican | RC |
| MER367 | 338770 | 6789475 | 30 | 33 | 0.79 | 3 | Melita | RAB |
| MEC450 | 338844 | 6789497 | 62 | 63 | 0.77 | 1 | Melita | RC |
| 21DSAC0172 | 340017 | 6778444 | 12 | 13 | 0.77 | 1 | Pelican | AC |
| HWRC016 | 339913 | 6779079 | 78 | 80 | 0.76 | 2 | Pelican | RC |
| HWRC018 | 339971 | 6779021 | 44 | 50 | 0.76 | 6 | Pelican | RC |
| 21DSAC0185 | 337418 | 6776956 | 69 | 70 | 0.76 | 1 | Egret | AC |
| MEC449 | 338905 | 6789702 | 75 | 76 | 0.75 | 1 | Melita | RC |
| RRC0043 | 347296 | 6797603 | 29 | 30 | 0.75 | 1 | Raeside | RC |
| CWA506 | 336566 | 6796331 | 99 | 102 | 0.75 | 3 | Central Well | AC |
| HWA077 | 339752 | 6779797 | 41 | 43 | 0.75 | 2 | Central Well | AC |
| CWC766 | 337447 | 6794206 | 74 | 75 | 0.74 | 1 | Annapurna | RC |
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----- Start of picture text -----
Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
----- End of picture text -----
ASX ANNOUNCEMENT 3[rd] March 2026
==> picture [178 x 63] intentionally omitted <==
| Hole No | East | North | From | To | Grade (Aug/t) |
Interval (m) |
Prospect | Hole **Type ** |
|---|---|---|---|---|---|---|---|---|
| GGDD0011 | 337719 | 6796415 | 180.51 | 181 | 0.74 | 0.49 | Annapurna | DD |
| HWA120 | 339497 | 6778858 | 65 | 66 | 0.74 | 1 | Pelican | AC |
| RRC0038 | 347155 | 6797799 | 66 | 68 | 0.74 | 2 | Raeside | RC |
| CWC766 | 337447 | 6794206 | 104 | 105 | 0.73 | 1 | Annapurna | RC |
| MER422 | 338806 | 6789678 | 36 | 39 | 0.73 | 3 | Melita | RAB |
| RRC0042 | 347267 | 6797575 | 36 | 37 | 0.73 | 1 | Raeside | RC |
| CWC764 | 337561 | 6794415 | 122 | 123 | 0.72 | 1 | Annapurna | RC |
| ECDD0004 | 337517 | 6793431 | 261.69 | 262.31 | 0.72 | 0.62 | Elcapitan | DD |
| HWRC014 | 339808 | 6778947 | 79 | 80 | 0.72 | 1 | Pelican | RC |
| ECDD0002 | 337625 | 6793803 | 290 | 290.54 | 0.71 | 0.54 | Elcapitan | DD |
| HWA104 | 339737 | 6778778 | 44 | 48 | 0.71 | 4 | Pelican | AC |
| PL14RC003 | 339943 | 6779059 | 128 | 129 | 0.71 | 1 | Pelican | RC |
| CWA221 | 336454 | 6795120 | 102 | 104 | 0.71 | 2 | Central Well | AC |
| SGP019 | 338584 | 6788859 | 29 | 30 | 0.70 | 1 | Desdemona | RC |
| SGP019 | 338584 | 6788859 | 31 | 32 | 0.70 | 1 | Desdemona | RC |
| MEC448 | 339578 | 6789952 | 63 | 64 | 0.70 | 1 | Melita | RC |
| CWA237 | 337509 | 6794395 | 36 | 39 | 0.70 | 3 | Annapurna | AC |
| OWP011 | 338610 | 6789262 | 27 | 28 | 0.69 | 1 | Desdemona | RC |
| ECDD0006 | 337419 | 6793122 | 327.1 | 328 | 0.69 | 0.9 | Elcapitan | DD |
| MEA261 | 339039 | 6790596 | 33 | 36 | 0.69 | 3 | Paradise North | AC |
| ECDD0006 | 337419 | 6793122 | 319.3 | 320.98 | 0.68 | 1.68 | Elcapitan | DD |
| OWP002 | 338730 | 6789672 | 47 | 48 | 0.68 | 1 | Desdemona | RC |
| MEC448 | 339578 | 6789952 | 65 | 67 | 0.68 | 2 | Melita | RC |
| CWD776 | 337422 | 6793786 | 170 | 171 | 0.67 | 1 | Annapurna | DD |
| ECDD0005 | 337818 | 6794420 | 294.93 | 295.93 | 0.67 | 1 | Elcapitan | DD |
| CWC768 | 339347 | 6791038 | 30 | 31 | 0.67 | 1 | Paradise North | RC |
| HWRC003 | 339796 | 6778858 | 48 | 50 | 0.67 | 2 | Pelican | RC |
| GS16RC008 | 337635 | 6793300 | 93 | 94 | 0.66 | 1 | Gwalia_South | RC |
| HWA106 | 339897 | 6778778 | 25 | 26 | 0.66 | 1 | Pelican | AC |
| RRC0042 | 347267 | 6797575 | 22 | 24 | 0.65 | 2 | Raeside | RC |
| OWD004 | 338830 | 6789679 | 51 | 53 | 0.65 | 2 | Desdemona | DD |
| MEC452 | 338735 | 6789288 | 18 | 20 | 0.65 | 2 | Melita | RC |
| CWA633 | 337298 | 6793979 | 104 | 107 | 0.64 | 3 | Annapurna | AC |
| SGP021 | 338546 | 6789107 | 46 | 47 | 0.64 | 1 | Desdemona | RC |
| HWA039 | 339917 | 6778842 | 48 | 49 | 0.64 | 1 | Pelican | AC |
| CWA573 | 339758 | 6791050 | 24 | 27 | 0.63 | 3 | Himalayas | AC |
==> picture [596 x 77] intentionally omitted <==
----- Start of picture text -----
Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
----- End of picture text -----
ASX ANNOUNCEMENT 3[rd] March 2026
==> picture [178 x 63] intentionally omitted <==
| Hole No | East | North | From | To | Grade (Aug/t) |
Interval (m) |
Prospect | Hole **Type ** |
|---|---|---|---|---|---|---|---|---|
| CWA644 | 336439 | 6795320 | 98 | 101 | 0.63 | 3 | Central Well | AC |
| CWA728 | 339409 | 6791025 | 51 | 54 | 0.63 | 3 | Paradise North | AC |
| PD16RC002 | 339332 | 6791103 | 75 | 76 | 0.63 | 1 | Paradise North | RC |
| HWRC009 | 339697 | 6778858 | 29 | 30 | 0.63 | 1 | Pelican | RC |
| HWRC010 | 339723 | 6779032 | 82 | 83 | 0.63 | 1 | Pelican | RC |
| CWA079 | 336579 | 6790918 | 31 | 33 | 0.63 | 2 | Central Well | AC |
| MBC456 | 336314 | 6790699 | 89 | 90 | 0.63 | 1 | Central Well | RC |
| GGDD0011 | 337719 | 6796415 | 160.91 | 162 | 0.62 | 1.09 | Annapurna | DD |
| HWA171 | 339337 | 6779658 | 36 | 40 | 0.62 | 4 | Central Well | AC |
| OWD001 | 338681 | 6789668 | 89 | 90 | 0.62 | 1 | Desdemona | DD |
| OWP002 | 338730 | 6789672 | 43 | 44 | 0.62 | 1 | Desdemona | RC |
| OWP010 | 338759 | 6789273 | 65 | 66 | 0.62 | 1 | Desdemona | RC |
| HWA130 | 339577 | 6779018 | 17 | 18 | 0.62 | 1 | Pelican | AC |
| 20DSAC019 | 337809 | 6780095 | 48 | 49 | 0.62 | 1 | Hotspot | AC |
| CWA626 | 337253 | 6793775 | 104 | 107 | 0.61 | 3 | Annapurna | AC |
| CWC786 | 337197 | 6793168 | 185 | 186 | 0.61 | 1 | Annapurna | RC |
| ECDD0001 | 337518 | 6793792 | 235.13 | 235.48 | 0.61 | 0.35 | Annapurna | DD |
| HWA167 | 339577 | 6779498 | 3 | 6 | 0.61 | 3 | Central Well | AC |
| HWA120 | 339497 | 6778858 | 48 | 52 | 0.61 | 4 | Pelican | AC |
| MBA422 | 336282 | 6790596 | 51 | 54 | 0.60 | 3 | Central Well | AC |
| CWC778 | 337548 | 6794198 | 81 | 82 | 0.60 | 1 | Annapurna | RC |
| CWC785 | 337117 | 6793162 | 128 | 129 | 0.60 | 1 | Annapurna | RC |
| HWA185 | 339497 | 6779578 | 44 | 48 | 0.60 | 4 | Central Well | AC |
| HWA205 | 337417 | 6777358 | 66 | 67 | 0.60 | 1 | Central Well | AC |
| ECDD0005 | 337818 | 6794420 | 281.17 | 281.61 | 0.60 | 0.44 | Elcapitan | DD |
| MER367 | 338770 | 6789475 | 36 | 38 | 0.60 | 2 | Melita | RAB |
| PD16RC002 | 339332 | 6791103 | 69 | 70 | 0.60 | 1 | Paradise North | RC |
| CWA021 | 336991 | 6793254 | 34 | 35 | 0.59 | 1 | Annapurna | AC |
| MBA144 | 336420 | 6790907 | 28 | 30 | 0.59 | 2 | Desdemona | AC |
| CWC773 | 339209 | 6790727 | 79 | 80 | 0.59 | 1 | Paradise North | RC |
| HWRC005 | 339677 | 6778838 | 49 | 50 | 0.59 | 1 | Pelican | RC |
| HWRC013 | 339777 | 6778975 | 61 | 62 | 0.59 | 1 | Pelican | RC |
| HWA124 | 340057 | 6778938 | 7 | 9 | 0.59 | 2 | Pelican | AC |
| OWP010 | 338759 | 6789273 | 43 | 44 | 0.57 | 1 | Desdemona | RC |
| ECDD0002 | 337625 | 6793803 | 409.13 | 409.45 | 0.57 | 0.32 | Elcapitan | DD |
| OWP016 | 338544 | 6788856 | 13 | 14 | 0.56 | 1 | Desdemona | RC |
==> picture [596 x 77] intentionally omitted <==
----- Start of picture text -----
Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
----- End of picture text -----
ASX ANNOUNCEMENT 3[rd] March 2026
==> picture [178 x 63] intentionally omitted <==
| Hole No | East | North | From | To | Grade (Aug/t) |
Interval (m) |
Prospect | Hole **Type ** |
|---|---|---|---|---|---|---|---|---|
| HWRC008 | 339697 | 6778858 | 47 | 48 | 0.56 | 1 | Pelican | RC |
| 21DSAC0095 | 337165 | 6780157 | 71 | 72 | 0.56 | 1 | Hotspot | AC |
| CWC778 | 337548 | 6794198 | 105 | 106 | 0.55 | 1 | Annapurna | RC |
| CWA649 | 336424 | 6795519 | 98 | 100 | 0.55 | 2 | Central Well | AC |
| HWA059 | 340179 | 6779697 | 48 | 49 | 0.55 | 1 | Central Well | AC |
| HWA076 | 339751 | 6779838 | 37 | 38 | 0.55 | 1 | Desdemona | AC |
| HWRC014 | 339808 | 6778947 | 70 | 71 | 0.55 | 1 | Pelican | RC |
| HWRC021 | 340076 | 6779162 | 42 | 44 | 0.55 | 2 | Pelican | RC |
| ECDD0005 | 337818 | 6794420 | 466 | 467 | 0.54 | 1 | Elcapitan | DD |
| MER9739 | 343557 | 6781782 | 10 | 18 | 0.54 | 8 | Melita | RAB |
| MER432 | 339410 | 6790323 | 21 | 24 | 0.54 | 3 | Paradise North | RAB |
| CWC766 | 337447 | 6794206 | 99 | 100 | 0.53 | 1 | Annapurna | RC |
| RGRAC0656 | 347078 | 6797725 | 12 | 15 | 0.53 | 3 | Mchlngl | AC |
| HWRC018 | 339971 | 6779021 | 62 | 64 | 0.53 | 2 | Pelican | RC |
| MBA151 | 335300 | 6789622 | 60 | 61 | 0.53 | 1 | Desdemona | AC |
| CWC785 | 337117 | 6793162 | 89 | 90 | 0.52 | 1 | Annapurna | RC |
| OWP005 | 339578 | 6789734 | 27 | 28 | 0.52 | 1 | Desdemona | RC |
| ECDD0004 | 337517 | 6793431 | 398.55 | 399.05 | 0.52 | 0.5 | Elcapitan | DD |
| ECDD0005 | 337818 | 6794420 | 211.65 | 212.22 | 0.52 | 0.57 | Elcapitan | DD |
| HWRC024 | 340157 | 6779079 | 40 | 44 | 0.52 | 4 | Pelican | RC |
| HWRC025 | 340228 | 6779239 | 94 | 96 | 0.52 | 2 | Pelican | RC |
| PL14RC003 | 339943 | 6779059 | 60 | 61 | 0.52 | 1 | Pelican | RC |
| RRC0029 | 347232 | 6797584 | 28 | 29 | 0.52 | 1 | Raeside | RC |
| MBA441 | 336225 | 6790693 | 33 | 36 | 0.51 | 3 | Central Well | AC |
| ECDD0004 | 337517 | 6793431 | 249.72 | 250.38 | 0.51 | 0.66 | Elcapitan | DD |
| RRC0015 | 346584 | 6797798 | 27 | 28 | 0.51 | 1 | Mchlngl | RC |
| MER397 | 338365 | 6788844 | 9 | 12 | 0.51 | 3 | Melita | RAB |
| MER409 | 338486 | 6789253 | 36 | 38 | 0.51 | 2 | Melita | RAB |
| CWA238 | 337409 | 6794387 | 36 | 39 | 0.50 | 3 | Annapurna | AC |
| CWC764 | 337561 | 6794415 | 119 | 120 | 0.50 | 1 | Annapurna | RC |
| CWC782 | 337642 | 6794405 | 201 | 202 | 0.50 | 1 | Annapurna | RC |
| CWC784 | 337058 | 6793118 | 90 | 93 | 0.50 | 3 | Annapurna | RC |
| OWP017 | 340112 | 6788670 | 76 | 77 | 0.50 | 1 | Desdemona | RC |
| ECDD0004 | 337517 | 6793431 | 212.09 | 212.5 | 0.50 | 0.41 | Elcapitan | DD |
| PD16RC005 | 339094 | 6790549 | 45 | 46 | 0.50 | 1 | Paradise North | RC |
| HWRC006 | 339717 | 6778838 | 53 | 54 | 0.50 | 1 | Pelican | RC |
==> picture [596 x 77] intentionally omitted <==
----- Start of picture text -----
Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
----- End of picture text -----
ASX ANNOUNCEMENT
3[rd] March 2026
==> picture [178 x 63] intentionally omitted <==
Historical Drill Hole Location Plan – Panhandle Project
==> picture [382 x 527] intentionally omitted <==
==> picture [596 x 77] intentionally omitted <==
----- Start of picture text -----
Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
----- End of picture text -----
ASX ANNOUNCEMENT 3[rd] March 2026
==> picture [178 x 63] intentionally omitted <==
==> picture [437 x 634] intentionally omitted <==
==> picture [596 x 77] intentionally omitted <==
----- Start of picture text -----
Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
----- End of picture text -----
ASX ANNOUNCEMENT 3[rd] March 2026
==> picture [178 x 63] intentionally omitted <==
==> picture [441 x 640] intentionally omitted <==
==> picture [596 x 77] intentionally omitted <==
----- Start of picture text -----
Level 2, 25 Richardson Street, West Perth WA 6005
[email protected]
ABN: 51 122 958 810
----- End of picture text -----