Juno Project Aeromagnetic Results
14/11/2024 07:04
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RNS Number : 2372M 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 +61 3 8611 5333
Andrew Draffin, Company Secretary and Non-Executive Director
SPARK Advisory Partners (Nominated Adviser) +44 (0) 20 3368 3555
Andrew Emmott
CMC Markets (Joint Broker) +44 (0) 20 3003 8632
Douglas Crippen
SI Capital Limited +44 (0) 14 8341 3500
Nick Emerson
Tavistock (Financial PR & IR) +44 (0) 20 7920 3150
Simon Hudson / Nick Elwes
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