Okay, so I'm going to be telling you guys, and girls all today about our Rogozina project in Serbia. Strickland Metals is an ASX-listed explorer, and we think we've got a really great story. We were here a year ago. I was happy a year ago because on this day we were announcing another discovery in Serbia, and that's a key theme for this project that I'll be walking you through. In terms of the company, roughly market cap about AUD 400 million. We're lucky to have really good, strong shareholders, including Zijin Mining, who earlier this year came on board via a strategic placement. If you look at our share price graph there, that was a key part of the story, sort of around March, April, that started to see the liquidity jump.
T his asset was acquired by Strickland last year in July from a private equity business called Ibera Capital. It's fair to say for the first sort of nine months of that journey, Strickland's predominantly retail registered, didn't really understand the value of Rogozina, and it took a lot of work trying to convince that market. Really, once Zijin came in in April, that really got rid of a lot of the, I guess, the doubters that started to—everyone started to understand that, well, this is the sort of asset that the world's fourth largest mining company would like to own, and Serbia as a jurisdiction is a pretty good place to operate. I'd say we've got about AUD 400 million market cap. We've still got about $25 million in cash, and liquid—oh, and plus another $25 million in liquid assets on top of that.
We are well funded. Strickland is one of the few companies on the ASX that has not needed to raise money over the last few years. That is because it has got a DNA in mergers, and acquisitions. We have successfully sold two projects over the last three years for combined over $100 million. That is what we use to fund our exploration, and growth. In terms of the asset, it is currently one of the largest resource bases on the ASX amongst sort of sub-billion dollar non-producing companies. It is very rare in Canada on the TSX, these kind of big porphyry-related projects are a lot more common, but they are not so common in Australia. As I said earlier, that is why it was a little bit of a struggle early on to try, and educate the market of why these sorts of projects are so special.
In terms of the assets, starting with Serbia, Serbia is a very well-endowed mining jurisdiction. It is currently Europe's second largest copper producer, thanks largely to the efforts of Zijin Mining, who are invested on the eastern side of the country around the Boer District. They have invested about $5 billion over the last five or six years there in Serbia to grow production. They are currently producing about 300,000 tons per annum of copper, a quarter million ounces of gold. They are looking to increase that to about 500,000 tons of copper, and 500,000 ounces of gold through the development of the lower zone at Čukaru Peki. We are located on the western belt. This is the same belt that Adriatic Metals were located. Now that asset in Bosnia belongs to Dundee. We are in a historic Trepča Mineral District.
This was once Europe's largest lead-zinc silver mining areas back in Yugoslav times. In terms of our asset, what is it? It is basically a giant magmatic system. We have about 180 sq km of tenure. We own 90% of the system. The other 10% extends to the southeast across the administrative line into Kosovo, where Newmont have a joint venture project over there. Currently, we have four large skarn-hosted deposits, the largest of which is Šanac. That is a bit over 5 million ounces. Mladenovac is about 1.3 million. Copper Canyon, 800,000 ounces. This year, a key focus for us has been Gradina, which is the most gold-rich of all the deposits, and we are drilling that at the moment with the view to put out a maiden resource there first week of December.
In terms of the rest of the project, as you move west from the area of alteration, and mineralization, we go under younger volcanic sequence. It's only about one or two million years younger, but it does mean the geochemistry through there is less effective because those rocks were put in after the mineralization, so you don't see through them very well with geochemistry. Through that western, and central area, we use a lot of geophysics to target through there. What we're really looking for through there is hopefully a porphyry. When you've got this amount of skarn mineralization, and alteration, it's quite a common event that you have a big mineralized porphyry somewhere nearby, and the classic analogue for that is Grasberg with the Ertsberg group skarns around it.
Our largest deposit, Šanac, this one is about 60-70% by value gold, and about 20% copper. We do have a higher grade zone at the southern end of the deposit running through what we call the central domain. These are just some of the drill holes we've put out this year. When we drill this thing, we sort of generally get 200-300 meters of continuous mineralization, including multiple high-grade zones within it. Within the 5.3 million ounce resource, about 30% sits in these higher grade zones. When a company like Zijin is looking at this project, they would be looking to mine this as a sublevel or block cave, and that's how the resources have been constrained.
In all the work that we're doing in our mining studies, we're really focused on just the higher grade zones, just that sort of 1.8 million ounce gold equivalent that sits in the central southern end of the deposit. Gradina, as I said, is one of the most important deposits for us this year because it's currently not in resource, but it's also the highest grade, and it's predominantly gold only, so we get over 90% met recoveries here. You can see some of these intercepts here. We get consistent high grades. I t's a bit thinner than Šanac. Probably the average thickness of the high-grade zones here is probably around 10-15 meters compared to 30 meters at Šanac.
The high grade and the good metallurgy, all the work that we're doing at the moment suggests that Gradina will probably overtake Šanac in terms of being the first deposit to be developed here at Rogozina. What it looks in section, so the geological controls at Gradina, a little bit similar to Šanac. We've got a number of dikes or intrusions running through the deposit, and the high-grade zones sit either side of those dikes. On that long section on the right-hand side, you can see where we've drilled it. We've drilled it almost a kilometer deep, and it's currently a kilometer long, and open in every direction. Mladenovac, so you're probably getting a feeling now. We've got a lot of deposits, and there's a lot going on here. All of these deposits are really close.
Mladenovac is just a few kilometers to the north of Šanac. So when we think about a mine development here, the best way to think of it is, this is multiple mines in the one project. And then the question becomes, well, what one do you develop first, and then second, and third? As I said earlier, we think Gradina's going to be number one. Mladenovac, this has got a really nice high-grade core that's sort of 50-100 meters thick, running about 5 grams gold equivalent. Last year, we made a discovery called Kotlovi just a few hundred meters to the west. We've just put out some recent results there where we hit almost 300 meters of continuous mineralization there. The important thing about Kotlovi is it's also got a gold-only zone as well, a bit like Gradina.
That's going to become quite important as we look to do a maiden resource for Kotlovi hopefully next year. That's what it looks like in plan view, so Kotlovi over to the southwest. The gold-only zone sits on the eastern side of that deposit, and basically sits directly underneath that valley that runs in between the two deposits. Copper Canyon, we haven't done much work on this over the last few years, but with the copper price running lately, we thought we'd have another look at it. When we had another look at it, we realized that not only was the model not overly well built in terms of constraining the higher grade zones, but we've failed to recognize this gold zone sitting underneath it. We put in a few holes recently.
We've reported the first one a few weeks ago where we hit almost 200 meters at half a gram gold, and 0.5% copper from surface. It's probably given a new lease of life to this deposit , it's reminded the whole market that we've got a very nice copper-gold deposit sitting at surface here, and we'll probably start putting a bit some more drilling here next year as well. Just quickly about the broader project, the upside that we see here, we've recently published some more geophysics. As I said earlier, we're really sort of focused on trying to find a porphyry because it's a step change in terms of scale here.
Obviously, with the mineralization we've already got, we've got enough to develop a really good project, but if we can find this, hopefully a porphyry, that's a real game changer for both the company, and the project. We've been focusing in that central area. We've just got this new data which has highlighted these three key structures which seem to be controlling the majority of mineralization in this neck of the woods. We're focused on that sort of westernmost diagonal at the moment, and then down at the south at Jezerska Reka where we do have porphyry mineralization. We have drilled down there and hit sort of 400-500 meters at 0.1% in porphyry veining. Obviously not an economic hit, but certainly signs of life.
We'll have two rigs drilling this neck of the woods next year testing a whole heap of these targets. In terms of the timelines, we've got about another 10,000 meters to drill over the next six weeks before we wrap up for the winter. There's a lot of news flow to come out in that time, including the maiden resource for Gradina, which we're aiming to get out first week of December, and hopefully we'll have a pretty nice number attached to that. As we move into next year, we're going to be jumping straight into pre-feasibility study. We'll be drilling at least 60,000 meters next year, probably have 10 rigs on the ground, and start to demonstrate the economics of this project, which we believe will be very good. This slide is probably one of my favorite slides these days.
W e've been on, I've been on this project together with our exploration manager, and our team for about six years. And in this part of the world, as anywhere, the community engagement side of things is very important. Over the last 12 months, we've grown our team from about 25 people to about 60 people, most of them are local people. We've spent about 2.5% of our budget on community projects. We invest in schools, sports clubs, reforestation on the mountain. It is something that our team is really making great strides with in certainly an area where we're looking to keep going, and really continue with that social license to operate. Just to summarize, I think obviously like most gold companies, our trajectory's been pretty strong this year.
Ours, I'm happy to say, we're backed up by pretty strong results. I think the trajectory on resource growth, we've got that visibility towards 10 million ounces. I'm very confident we'll also hope be announcing a new discovery at some stage in the near future. We think this is a great time to become a shareholder, and jump on board. Thank you.