Geo holds an 80% participating interest in the Juno Project, a joint venture with Callum Baxter, who holds the remaining 20% interest and operates the project. The Juno Project covers approximately 100 square kilometres. The project exhibits geophysical similarities to the renowned Havieron discovery, indicating significant potential for Intrusion Related Gold Systems (IRGS) and Iron Oxide Copper-Gold (IOCG) type deposits. This strategic initiative underlines Geo’s commitment to leveraging advanced exploration techniques and partnerships to unlock valuable mineral resources.

Intrusion Related Gold Systems (IRGS) & Iron Oxide Copper-Gold (IOCG)

Geo Exploration holds a 78% participating interest in Petroleum Exploration Licence (PEL) 0094 (Block 2011A) in the Walvis Basin, offshore NW Namibia. This covers 5,798 square kilometres in water depths ranging from 350 metres to 1550 metres. State oil company NAMCOR has a 17% carried interest and private company Aloe Investments Two Hundred and Two (PTY) Ltd has a 5% carried interest. Geo Exploration also previously held PEL 0029 from 2010 until its expiry in December 2020.

Prospective resources mmbbls

In August 2013, the Company submitted an application, proposed work programme and budget to the Italian Ministry of Economic Development for four exploration areas offshore Italy in the Southern Adriatic. The Company’s four Application Blocks are contiguous with the Italian median lines abutting Croatia, Montenegro and Albania respectively. Eni and Novatek were awarded acreage in Montenegro in 2016, with a forecast programme in excess of $100m. These blocks are only 35km from Geo Exploration acreage.

Eni/Novatek forecast work programme 35km from Global’s acreage