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19 Sep 2024 13:53
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 +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 31
Simon Hudson / Nick Elwes
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