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Gunson Resources Limited is a Perth based Australian mineral exploration company listed in May 2000. Two of its assets, the Coburn and Mount Gunson projects were divested from Stuart Petroleum NL, formerly Stuart Metals NL but the other projects were initiated since listing.

Coburn Project (mineral sand) - Western Australia

* This project covers 1200 square km of a fossil coastline which has the potential to host a world class heavy mineral sand field.
* Drilling since 2000 has outlined a major heavy mineral sand deposit known as Amy Zone which is over 35 kilometres long, up to 3 kilometres wide and between 10-50 metres thick.
* Approximately two thirds of Amy Zone has government environmental approval for mining and this area has JORC-compliant ore reserves of 308 million tonnes averaging 1.2% heavy minerals. Zircon comprises 23% of the heavy mineral suite, high titanium ilmenite (61% TiO2) 48%, rutile 7% and leucoxene 5%. These reserves are sufficient to support a mine life of 17.5 years at a mining rate of 2,200 tonnes of ore per hour or 17.5 million tonnes per year. The northern third of Amy Zone has not yet been approved for mining but contains a non-JORC potentially mineable resource of 106 million tonnes averaging 1.3% heavy minerals. Mining of this resource would sustain the operation for a further six years.
* Gunson completed a Definitive Feasibility Study at the end of 2009, the results of which were announced on 7th January 2010. This study revealed that Amy Zone can support a high volume, low cost, long life mining operation producing quality mineral products.
* Over the 23.5 year mine life modelled, total revenue is estimated at $A2.2 billion, with an operating cash surplus of $A879 million or $A37 million per annum.
* At the long term average exchange rate since 1983 of 72 US cents per $A1, the pre-tax ungeared NPV is $A163 million at an 8% real discount rate, with an IRR of 16.8%.
* Approximately 67% of the revenue from the proposed mine is from zircon, for which industry experts TZMI forecast a significant supply shortfall commencing in 2013.
* The Company is currently seeking to attract a minority partner to help fund the mine development, in exchange for an assured long term supply of zircon.

Mount Gunson (copper) - South Australia

* Strategic location in the best endowed copper belt in Australia, the Olympic Copper-Gold Province. This belt is over 500 km long and contains about 75% of the known copper resources in Australia. Olympic Dam is the fourth largest copper and largest uranium deposit in the world, containing some 42% of known global uranium resources. Two discoveries since 2000 at Prominent Hill, approximately 100 kms north west of Olympic Dam and Carrapateena, 20 kms east of Gunsonís Chianti Prospect at Mount Gunson, have heightened exploration interest for large deposits in the basement rocks of this belt.
* The Project straddles about 10% of the Olympic Copper-Gold belt as four contiguous exploration licences covering about 1,320 square km.
* Exploration for large copper-gold deposits in the basement at Mount Gunson is being funded by a subsidiary of Xstrata Copper, which has the right to earn a 75% interest in the Project by spending $A10 million by mid 2013. To date, $A3.35 million has been spent and the current focus is on drilling at Emmie Bluff Prospect.
* Copper mineralisation of Central African Copper Belt style is also widespread in the overlying cover rocks and two areas covering the shallow MG14 and Windabout deposits have been excised from the Xstrata Copper farm-in.
* In October, 2009 the Company announced the results of a Pre-Feasibility Study on the shallowest of the 2 resources : the MG14 deposit, at 25m depth. Open pit mining of this 1.1 million tonne deposit averaging 1.7% copper over 2 years pays back the development cost at a copper price of $US2.70 per pound and an exchange rate of 86 US cents to $A1. A 15 month Bankable Feasibility Study on a sequential development of the MG14 and much larger Windabout deposit nearby commenced in late 2009.

Tennant Creek (gold-copper) - Northern Territory

* Project comprises two approved exploration licences and three exploration licence applications over a combined area of 107 square km in the Tennant Creek district, as a result of geological targeting work conducted on BHP Billitonís extensive Australian database by the Companyís geological consultant, Douglas Haynes Discovery Pty Ltd.
* The Tennant Creek district has yielded some 5 million ounces of gold and 350,000 tonnes of copper since large scale mining began in 1934. Gold-copper ore bodies in the district are typically high grade averaging 9 g/t gold and 2.1% copper, and are associated with distinctive magnetic anomalies, due to the abundance of the magnetic iron oxide, magnetite.
* Significantly less exploration has been conducted in the district for non-magnetic gold-copper ore bodies. Such ore bodies are predicted to occur in the Tennant Creek district, but will not have the usual geophysical characteristics of the known gold-copper deposits. They will be associated with discrete gravity anomalies, with either a very weak coincident or adjacent magnetic anomaly, like Oz Minerals' Prominent Hill and BHP Billiton's Olympic Dam deposits in South Australia.
* Gunsonís tenements and tenement applications cover weak magnetic anomalies with associated gravity responses in favourable geological settings, where little or no previous exploration has been carried out. The targets on these areas can be tested quickly and cheaply with ground geophysics and shallow drilling.
* A drilling program on the two approved exploration licences is scheduled for the second quarter of 2010.
* The other three exploration licence applications lie on aboriginal freehold land and no agreement has been reached for exploration access. This is due to a difference of opinion on uranium mining - the Company's position is that it must be allowed because of the occurrence of by product uranium in the ore.

Fowler's Bay (nickel) - South Australia

* Fowlers Bay comprises a 700 square kilometre exploration licence located about 150 kilometres west of Ceduna (Figure 1).
* The exploration target is craton margin Proterozoic nickel sulphide deposits within a northerly trending belt of magnetic anomalies near the western margin of the Gawler Craton.
* Interpretation of the results of an airborne transient electromagnetic (TEM) geophysical survey in the northern part of the Project flown by a neighboring tenement holder in 2007 revealed 2 promising nickel sulphide targets. (Figure 1)
* These targets, which comprise 2 bedrock TEM geophysical conductors up to a kilometre long, are located in a prominent regional bend in the belt of magnetic anomalies described above.
* The magnetic anomalies are interpreted to be Proterozoic mafic and ultramafic rocks prospective for nickel sulphides. Evidence for this comes from widely scattered drill holes completed by previous explorers which penetrated to basement.
* The two airborne TEM anomalies appear to occur either side of a basement high expressed by a hill and both have an estimated depth to top of 100 metres or less.
* Ground TEM surveys to better define the two anomalies for possible drill testing were completed in December 2008 and April 2009 respectively and a high priority drill target chosen.
* The Company's Application to access the Yellabinna Regional Reserve conservation park for a diamond drilling progam is beng processed by South Australian Government authorities and approval is expected in May 2010.

Mine For

zircon, titanium ilmenite, rutile, leucoxene, gold, copper, nickel

Location of operation(s)

Western Australia, Northern Territory, South Australia


Level 1, 985 Wellington St,


(61 8) 9226 3130



Last Updated



The data on Australian is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.