Objectives and Strategies
Glengarry's main objective is to become a profitable miner via the discovery or acquisition of an economic mineral deposit that can support stand alone processing facilities. The Company intends to achieve this by:
- Exploring for large mineral deposits on wholly owned Projects located in under explored, highly mineralised provinces with known, economic deposits.
- Identifying and acquiring high-grade mineral deposits in an established, well-serviced mining province that do not meet the requirements of larger companies.
- Investigating opportunities submitted by third parties.
- Realising value from non-core assets to assist with funding of exploration on key projects.
Glengarry’s current exploration activity is focused on the Percyvale Project located in North Queensland. The Project is located in a region which contains significant economic quantities of gold, base metals, uranium, molybdenum and nickel. Early exploration work by Glengarry at Percyvale has confirmed the potential of the project to host ore bodies similar to that discovered elsewhere in North Queensland.
Glengarry’s other major exploration asset is the 1,400 square kilometre Citadel Project area located in the Telfer region of northwest Western Australia. Previous exploration by other companies has confirmed the potential for the Project to contain high grade copper and gold mineralisation and a number of targets have been identified for follow up. The Company has executed access agreements with the Traditional Owners of the area and hopes to commence a major exploration program in 2009.
Glengarry has also entered into joint venture agreements on a number of other projects to ensure that exploration is advanced in a timely manner while the Company focuses on its priority areas.
Further information on each of Glengarry's exploration projects is displayed in the section titled Project Summary.