Global Petroleum Ltd Exploration Licence Application and Presentation

RNS Number : 9208E

Global Petroleum Ltd

19 September 2024

 

 

19 September 2024

 

The information contained within this announcement is deemed by the Company to constitute inside information under UK Market Abuse Regulations. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

 

 

Global Petroleum Limited

("Global" or "the Company")

 

Exploration Licence Application and Company Presentation

Global Petroleum Limited (LSE AIM:GBP) is pleased to announce it has applied for two further Exploration Licences ("Licences"), 52/4391 and 08/3744, adjacent to the current Exploration Licence 08/3497 in Western Australia, via its wholly owned subsidiary Juno Gold Pty Ltd.

Callum Baxter, exploration geologist consulting to the Company, has identified potential exploration targets within the Licences which share geophysical similarities to the target within Licence 08/3497. Global believes these additions will strengthen its portfolio and vision to discover a world class deposit.

The total area of the Juno project has now increased from 106 square kilometres to 450 square kilometres covering multiple magnetic features. The Company is using an intrusion related deposit exploration model seeking to locate precious and base metal mineralisation, similar to that at the Havieron and Telfer deposits in northern Western Australia.

Omar Ahmad, Chief Executive Officer, commented:

"I am pleased to continue to build on our strategy and the applications of these licences is a testament to that.

Mr Baxter has identified compelling targets to explore and the discovery of a world class resource is at the forefront of our strategy. We look forward to updating shareholders on our projects in due course."

Mr Baxter, Global's joint venture partner, commented:

"The recent addition to the board of Mr Ahmad and Mr Choudhry strengthens the Company's experience and ability to lead the exploration for new mineral deposits. This is demonstrated by our cooperative efforts which have allowed us to recognise further targets and apply for two additional licences at Juno, which bring greater opportunity for exploration success and enhances the ability to grow the Company. I look forward to the commencement of activities at the project."

Global has also uploaded an updated Company presentation to the website which can be found here:

https://globalpetroleum.com.au/investors/presentations/

 

For further information please visit: www.globalpetroleum.com.au or contact:

Global Petroleum Limited                                                                [phone]

Andrew Draffin, Company Secretary and non-Executive Director

SPARK Advisory Partners (Nominated Adviser)                         [phone]

Andrew Emmott

CMC Markets (Joint Broker)                                                           [phone]

Douglas Crippen 

SI Capital Limited                                                                             [phone]

Nick Emerson

Tavistock (Financial PR & IR)                                                         [phone]

Simon Hudson / Nick Elwes

 

 

 

 

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