Juno Project, Australia

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Introduction

Juno Project, Australia - Mineral Exploration Opportunity for Havieron Style Intrusion Related Gold System.

The Juno Project is located in Western Australia approximately 100km south of the town of Paraburdoo. The project area is leasehold cattle farming and access is via formed gravel roads from Meekatharra to the Pingandy pastoral lease.

Exploration Licence 08/3497 was granted and held 100% by Callum Baxter in 2023. As part of the transition into gold exploration, Global Petroleum has acquired 80% of the exploration licence.  Callum Baxter will be a consultant to the company for the exploration of the gold licence and now retains 20% of the licence.

Callum Baxter is a geologist with more than 30 years’ experience in global mineral exploration and was founding director of Greatland Gold plc, which is credited with the discovery of the Havieron deposit in Western Australia – an intrusion related gold system; which following discovery of Havieron had a peak market cap +£500m.

Background

Globally, intrusion related gold systems (IRGS) display a broad range of styles, but key components in Western Australia are Proterozoic age carbonate rich host rocks, moderate structural deformation of host rocks, proximity to basin margin faults, and proximity to post depositional granite intrusions.

Due to high sulphide content buried (not outcropping) IRGS deposits are exceptionally well detected by geophysical methods such as magnetics, gravity, induced polarisation (IP) and/or electromagnetics (EM)

The Juno project is located in carbonate rich, low to moderately deformed Proterozoic host rocks on northern margin of basin proximal to major basin structures.

The Abra deposit is located 100km south-east of Juno in the same Proterozoic basin and displays IRGS type features. Abra was discovered following airborne geophysical surveys.

The discrete magnetic feature at Juno is approximately 5km x 5km in size. By way of comparison, the discrete magnetic target at Havieron is 1km x 1km in size currently 8.4Moz AuEq.

Historic work programme

An airborne magnetic survey which was carried out in the early 90s identified the Juno target. This was followed up by ground based magnetic and gravity surveys which were completed in the mid 1990s. This work was carried out by Australian companies Newcrest Mining and Pasminco.

Pasminco recognised the coincident nature of the Juno magnetic and gravity features and applied an Iron Oxide Copper Gold (IOCG) model. IOCG deposits are large and often display coincident magnetic and gravity signatures.

Pasminco modelled the geophysical data and planned a single drillhole to test the target – HD1

HD1 failed to intersect the source of the magnetic and gravity feature as it was poorly sited. The hole also failed to achieve target depth due to the small capacity of the drilling equipment.

However, HD1 intersected rocks which displayed thermal alteration and disseminated sulphide mineralisation suggesting close to source – skarn type features as were seen at Havieron.

Follow up work in the early 2000s by Udu Resources consisted of re-evaluating  Juno as an IOCG target. Udu conducted a limited ground Electro Magnetic survey over a part of the Juno target which was successful in detecting a strong conductor. However, the aerial extent of the survey was insufficient relative to the size of the Juno target. Udu also drilled several drillholes UHC1-4 to test the target. All holes failed to penetrate the surface rocks due to the limited capacity of the drilling equipment.

Since the early 2000s there has been little to no work carried out in the Juno area. Callum Baxter applied for the current licence in 2022 and the licence was granted in 2023.

Historical data from the 90s and early 2000s is poorly constrained and more modern surveys are required to better locate and ‘see’ the target using up to date modelling techniques, as used in the Havieron discovery.

Current Status

Global plan to use modern drilling equipment and techniques to further explore the Juno target.

An indicative timeline of activity is outlined below:

Exploration Licences 52/4391 and 08/3744

The Company has applied for two further Exploration 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 these licences which share geophysical similarities to the target within Licence 08/3497.

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.