The Juno Project
Firstly, GEO advances the Juno Project in Western Australia, targeting valuable mineral resource opportunities. This joint venture with Callum Baxter (80% GEO, 20% Mr. Baxter) is located about 100km south of Paraburdoo. Mr. Baxter, a geologist with over 30 years of global experience, is leading the project. He co-founded Greatland Gold plc and discovered the Havieron deposit—a world-class gold-copper system. Independent estimates have valued Havieron at close to £950 million.
Importantly, the Juno Project shows strong geophysical similarities to Havieron. It features a large residual gravity anomaly and a distinct magnetic signature. These traits align with Intrusion Related Gold System (IRGS) and Iron Oxide Copper-Gold (IOCG) deposit types. Specifically, Juno’s magnetic feature covers 4km by 2km, which is significantly larger than Havieron’s 1km by 1km footprint. The Company is commencing its maiden drill programme in Q3 calendar year 2025.
The Gorge Project
The Gorge Project is located 110km west of Paraburdoo, covering 81 km² of Proterozoic metasediments in the Capricorn Orogen, with gold mineralisation identified in several areas with rock chip results peaking at 134 g/t gold, with mineralisation observed over approximately 5 km of strike.
GEO recently acquired the licence, through its 100% owned subsidiary Gorge Gold Pty Ltd, a new exploration licence covering the Gorge Project (E08/3737) located in Western Australia. The primary focus for Gorge Project is early-stage exploration for large scale gold deposits.
Namibian Project
GEO holds a 78% working interest in Petroleum Exploration Licence No. 0094, covering offshore Block 2011A in Namibia’s Walvis Basin.
Industry momentum in Namibia continues to accelerate. Landmark discoveries such as TotalEnergies’ Venus, Galp’s Mopane, and the Capricornus discovery by the Rhino Resources–Azule Energy JV have established the country as a major emerging hydrocarbon province. In addition, Chevron recently farmed into acreage in the Walvis Basin, underlining the basin’s growing strategic importance.
With its position in PEL 0094, GEO is well placed to capitalise on this activity and intends to progress the licence through a farm-out joint venture.
Italian Licences
In August 2013, GEO submitted a work programme and budget to Italy’s Ministry of Economic Development for four offshore exploration areas. The applications appeared on 30 September 2013 in the Official Bulletin. Since no competing bids arrived during the three-month window, GEO proceeded.
Then, in May 2014, GEO submitted environmental documentation. The permits’ final award depends on the environmental review and regulatory approvals.