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
