Following its successful float in 2009, The Company began the task of evaluating the Glenburgh gold project in the Gascoyne Region of Western Australia. Currently, Glenburgh has a JORC compliant resource of 1,000,000 ounces of gold.
Gascoyne Resources has completed a Preliminary Feasibility Study which found that the Glenburgh gold project can support a viable project. The study concludes an annual through put of 1.2Mtpa producing 73,000 ounces pa for 4+ years, life of mine revenue of $448 million, pre-tax operating surplus of $163 million and all in sustaining costs of $991 ounce.
More recently Gascoyne Resources has acquired an 80% interest in the Dalgaranga gold project located in the Murchison Province of Western Australia. The project has 740,900 ounces of gold in JORC Measured, Indicated & Inferred categories. There is high potential at Dalgaranga for further discovery and resource growth.
In addition Gascoyne's wholly owned subsidiary Egerton Exploration Pty Ltd has entered into an exclusive option to purchase the Egerton gold project. The project includes the high grade Hibernian deposit which contains a resource of 116,400 tonnes @ 6.4 g/t gold for 24,000 ounces in the Measured, Indicated and Inferred JORC categories.
The company currently has a resource inventory of 1.76M ounces of gold.