With our focus now 100% on our Rogozna project in the Republic of Serbia. Really, at a snapshot, you know, where are we at Strickland? We're a pretty unique opportunity on the ASX. Number one is our scale with our Rogozna project in Serbia. We've got over 7 million ounce gold equivalents. As you can see on that graph on the right, that's a peer project, ASX and TSX listed non-producers. On the ASX, we actually have the second largest resource base for a single project. That's quite significant because a lot of Australian companies don't have these sort of porphyry-related projects. They're much more common here in North America on the TSX. That makes us stand out. We're getting a lot of attraction now from some pretty big players. One of the key milestones for us more recently, we had Zijin Mining come on with a strategic placement.
That was pretty significant for us at the time because Zijin are the largest producers in Serbia. Coming on through a strategic placement really was a really positive validation of the project, in which, you know, for a while there in Australia, it was quite hard to educate particularly the retail market why this project is so special. We got Zijin on board now. That was a really positive outcome in April. More recently, we sold our Yandal project in WA. A couple of years ago, Strickland sold one project, the Millrose Project to Northern Star Resources. That was for about $60 million back in 2023. That's why Strickland was sort of cashed up at that time. More recently, a couple of weeks ago, we finalized a deal to sell the Yandal Gold Project to Gateway Mining in WA. That was a script deal, $45 million worth.
We gave 80% of those shares to our shareholders. We are one of the few junior companies that actually give money back to shareholders. We're quite proud of that. Also, really proud of the fact that within two weeks of doing that deal, the value of those shares for our shareholders has doubled. Strickland still holds about 15% of Gateway. Those shares are worth about $17 million today. They were worth $9 million two weeks ago. Really happy with that deal. We added 2 million ounces of extra resources at Rogozna last February, March. That cost us $5 an ounce. That's really a function of the style of geology that we've got there where we drill these multiple hundred meter thick mineralization zones. This year, we're drilling minimum 50,000 meters. I'm going to walk you through how we're doing that.
A little bit of an overview of the company: a bit over $300 million Aussie market cap, so a bit over $200 million U.S. As I said, over $50 million in cash and liquid investments. That's pretty rare amongst juniors anywhere, and that gives us a really good runway. We've got at least 12 months runway if we choose, where we don't need to raise money, and we can deliver on these pretty aggressive exploration plans. In terms of shareholders, we've got about 25% institutional ownership, as I said, Zijin with about 3.3% now. Rogozna is in the land of the giants in the Western Tethyan Belt in the Republic of Serbia. The Western Tethyan Belt splits in sort of two arms. On the eastern side, we've got the Bor region.
That's where Zijin Mining have invested multiple billion dollars, including when they took out Nevsun Resources a few years back for the Cukaru Peki deposit. That's also the area where Dundee Precious Metals have made a fantastic discovery called Coka Rakita, and they're really progressing that really quickly. That's a beautiful deposit. We are on the western side of the Tethyan Belt in this region, the same part of the belt that Adriatic Metals, now Dundee's Vares project, is in. We're in a historical Trepca mineral district, which was once one of Europe's largest lead-zinc-silver mining areas. Where we are is a major anomaly in terms of the accumulation of gold in this belt. The other belt is more copper-rich; our belt is more gold and lead-zinc-silver-rich. Where we are is a major anomaly within this belt in terms of gold.
In terms of mining in Serbia, currently 2.5% of GDP. There's an active strategy with the government to increase that to 10% of GDP over the next 10 to 20 years, and they understand that they need a very stable regulatory and fiscal environment to promote the amount of investment needed to get to that 10%. To get to 10%, they're relying on Zijin Mining investing more money to develop the lower zone of Cukaru Peki, which they're going through permitting at the moment. They're relying on Jadar being developed by Rio Tinto, and they're relying on this project, Rogozna, being developed as well. In terms of our project, what is it? It's a magmatic system. It's porphyry-related. We've got four deposits currently defined by drilling. These are skarn-hosted deposits, so a little bit different to porphyries. They have more variable grade than you get in a porphyry.
With the scale of mineralization that we've got here, we get a lot of optionality in terms of how you might develop these deposits. We also obviously get a lot of optionality around the fact that we've got four deposits currently. Which one do you develop first? At what scale do you want to do it? That's what gives us a lot of optionality. We've got 180 square kilometers across the administration line into Kosovo. Newmont have the ground next door. We've got 90% of the system. They've got about 10% of the system. Importantly, on the eastern side of the project, you can see all that sort of red coloring with a bit of yellow. That's our soil geochemistry, gold and arsenic in soils. That maps the skarn system pretty well. It maps the footprint of these things. You get structure out of that.
Importantly, immediately west of that, we go under younger volcanics. To the west, we've got volcanics that are about one to two million years younger. They're not necessarily very thick. We think based off geophysics, about 50 to 100 meters. It would be very inconvenient if that geochemistry that you see around the east just stops suddenly at that imaginary line where that volcanic cover is. We've already done a lot of geophysics through there. We've got some massive geophysical anomalies sitting in that central part of the project, which we think is more of a porphyry environment rather than a skarn environment. This year's focus was really grow resources. Do that one of two ways. Drill the existing deposits, look to grow those. Key focus there being on Gradina, which currently doesn't sit in resource. Then exploration. We want to make more discoveries.
Our current team that's been in place for over six years, we've made three discoveries in six years. This is that sort of geological environment that there is mineralization everywhere. You just need to test a lot of different concepts and then vector into where the best mineralization is. Chenarats deposit, this is the biggest currently, 5.3 million ounces. At the southern end of the deposit is where we get most of our higher grade mineralization in the skarn. We get these really nice high grade zones. You can see on the left just some of our recent drilling, sort of 50 to 60 meter thick higher grade zones running about two and a half gram gold equivalent. That's kind of the selective mining scenario. When the majors are looking at this project, including Zijin Mining, they're looking at more of a bulk tonnage sub-level cave or block cave.
You can see with the geometry on the right-hand side in that cross section, the geometry is very good for caving. That's what the majors are looking like. The pathway that we're on at the moment is really focused on what does this look like as a sort of one to two million ton higher grade operation. Gradina, this one's really key focus for this year because it's not currently in resource. We've got over 40,000 meters of previous drilling in this one. We're drilling about 20,000 to 25,000 meters. We finished the drilling at the northern end. We've sort of got two parts, the north and the south. You can see that gravity anomaly there. It's basically a northeast structure which cuts through that. Where that's intersecting, the gravity anomaly seems to be where we're getting a lot of the best mineralization.
At the northern end, we get some beautiful grades. This is gold only. Importantly, key distinction between, say, Chenarats, which is predominantly gold with copper. This is gold only. This has got the best metallurgy out of everything, over 90% recovery into a con. We get just beautiful grades, a little bit thinner than Chenarats, but this is probably the easiest and easiest stage one development within the project, being just a high grade gold only deposit. You can see here on the left-hand side, that's what a cross section looks like. This year, we've narrowed the drilling to about 40 by 40 meters. As I said, it is a bit thinner than Chenarats, so we need a bit closer space drilling to demonstrate the continuity. We've got these dikes that run through it.
They control a lot of where the high grade mineralization is, a bit like Chenarats as well. We've got a little bit of folding within the sediments. We've got a good handle now at the northern end. We're currently finishing the drilling at the southern end, which is on the right-hand side, that left-hand part of that long section. We've drilled this over about 900 meters of strike and 900 meters vertically. Again, it's another very big system. Mendenovac, this one's a few kilometers to the north of Chenarats. Last year, we made a nice discovery just 300 meters away called Kotlovi zone. We've recently put out some results here, almost 300 meters of continuous mineralization, including some really nice high grades within it. Mendenovac, we've got about 1.3 million ounce gold equivalent in resource there. That sits within an anticline at the base of the volcanics.
It looks like we've probably got another anticline there at Kotlovi as well. These were the results we put out recently for Kotlovi. Importantly, it had a nice gold only zone of mineralization, that 163 meters at 1.4, including those other high grades within it. It's that same sort of high grade gold mineralization that we get at Gradina. We expect that to have pretty good met recoveries as well. It's only 300 meters from Mendenovac. You can see there on the right-hand side of the image with Mendenovac, you don't need a big footprint of these deposits to get a massive amount of metal. That's because of the fact that we get two 300 meter zones of mineralization, including 50 to 100 meters of high grade. The footprint of Mendenovac is only a few hundred meters long currently. Now it's open to the north.
We do have sort of economic grade hits to the north, but we just haven't closed that spacing in the drilling between the northern section and the one at the end of the sort of footprint. Heaps of upside here, but it's a case of which how do we prioritize it? Mendenovac is the most base metals rich. About 30% of the metal here is zinc. That, to us, sort of downgrades it a little bit compared to, say, Gradina, which is 90% gold. Copper Canyon, we've actually started drilling here again recently, just a few holes. This is very simple. It's the most copper-rich of the deposits. It's basically got a 50 meter thick blanket running about 1% copper and 1 gram gold, starting five meters beneath the surface, surrounded by a lower grade halo with gold only mineralization sitting underneath it.
Two to one strip ratio at $2,000 gold. This is by far the sort of the easiest of all the deposits if we're thinking of a development perspective, not necessarily how we want to start the project. Just a bit more broadly about the overall project, the upside we see, and to be fair, that anyone that comes to the site sees is, you know, we've got all the skarn alteration around the right-hand side and down the bottom. On this map, we're looking at a combination of geochem anomalism and geophysics, particularly IP. These things light up with IP. They light up also with mag and gravity. When you get that combination of geochem with geophysics anomalies, it gives you good encouragement to drill the target. In the central area where we've got those younger volcanics, we've got to rely a lot more on geophysics.
We've got these big EM anomalies through the central part. We've just run gravity through there, and we're about to run magnetotellurics over the next month and hopefully refine some of those targets and get some drill holes into these sort of porphyry targets before the end of this year. Key deliverables: we're a bit over halfway with the drilling this year. Resource updates are due sort of late November, early December. Into next year, we'll be starting pre-feasibility studies, and we'll be looking at finalized sort of scoping studies around April, May next year. Sustainability: one of the key aspects of this project, being on the door in Eastern Europe or Europe, we've got communities living around the project sort of 10 kilometers away. It's really important what we're doing here on the ground that we get that obviously social license to operate. I'm really proud of this.
In fact, you've probably gathered through this presentation that I love this project. There's one thing I love more than the project: it's our team. We've grown this team from five people six years ago to over 60 people in the last month, and they're really kicking a lot of goals. Including contractors, we've got about 110 people on project every day, eight drill rigs, four or five pieces of earthworks gear, geophysics crews, environmental crews, archaeologists. This is a major operation now. Over half of our people are from the local communities. We're really doing well on diversity, and we're making a lot of investments in the local community as well in the case of schools and education and health. I'm really proud of the effort that the guys there have put in, and I think as time proceeds, we're only going to keep getting better in that space.
Summary: Strickland Metals, why should you invest in Strickland? Why do I invest in Strickland? Firstly, it's the quality of the asset. It's the quality of the team. We've got over $50 million in funding to deliver these targets, and we think it's a pretty clear and sustainable way to create a lot of long-term value. I hope you'll join us. Thank you.