Juno Project Aeromagnetic Results

Global Petroleum Ltd

14 November 2024

 

14 November 2024 

The information contained within this announcement is deemed by the Company to constitute inside information under the UK Market Abuse Regulations ("MAR"). 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") 

Juno Project Aeromagnetic Results

Global Petroleum Limited (LSE AIM:GBP) is pleased to announce further to the announcement on 7^th October and 9^th October 2024, results of an Airborne Aeromagnetic Survey at Juno.

The Company's main focus at Juno is targeting Intrusion Related Gold Systems (IRGS) similar to Havieron and Telfer. Havieron and Telfer are large gold and copper deposits located in the north of Western Australia.

Gold and copper mineralisation at Havieron was discovered following exploration drilling of a strong discrete magnetic feature. Havieron also displays a coincident gravity response.

Figure 1 - Newly acquired 50m line spaced data overlayed on historic 400m line spaced data.

Global has targeted the northern parts of E08/3497 as its initial area of focus. Processing and imaging of aeromagnetic data covering the northern portion of the main Juno magnetic feature is complete (Figure 1). Imaging has revealed the data is of high quality and very detailed in nature.

The new aeromagnetic data confirms the location, highlights the strong intensity and verifies the large size of the Juno magnetic feature. This new detailed aeromagnetic data reveals structures and other features not seen in historical, lower resolution, magnetic data. The aeromagnetic survey was carried out during October 2024 using a fixed wing aircraft at 50m line spacing.

Further work is scheduled for aeromagnetic data for the southern parts of the project and then unconstrained modelling of the aeromagnetic data.

Global is concurrently planning work programmes including detailed gravity, lidar and electromagnetics. Forward modelling of magnetic data and gravity data will be completed once data acquisition is complete. Following completion of these programmes targeting of initial exploration drill holes will be prioritised.

Callum Baxter, Joint Venture Partner and Consulting Geologist commented:

"I am pleased to see that the  acquisition, processing and imaging of the new detailed aeromagnetic data has been successful. The new aeromagnetic data is of very high quality and confirms the strong intensity and large size of the magnetic feature at Juno."

Omar Ahmad, CEO of Global Petroleum commented:

"I am very much looking forward to the additional ongoing exploration programmes which we will integrate with this new aeromagnetic data. It is pleasing to see we have made rapid progress at Juno over recent months and we aim to continue at this  pace going forward."

Competent Person - The information in this announcement relating to the project is deemed to be a true representation of the exploration results. Mr Steven Andrew Milner has sufficient experience, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Steven is a member of the Australasian Institute of Mining and Metallurgy (M.Aus.lMM #109255), is employed as a consultant with Austwide Mining Title Management Pty Ltd and is a graduate of Durham University and has over 40 years of experience in exploration and mining in Australia, Zimbabwe and Namibia. Steven is a Director of Mineral Search Pty Ltd.

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

 

END