Global Geoscience started trading on the Australain stock exchange on December 19, following the Sydney-based company’s successful A$3.3 million Initial Public Offer, which closed fully subscribed on December 7. “We are delighted with the level of interest shown in our Initial Public Offer,” Global Geoscience Managing Director, Mr Bernard Rowe, said. “It is a strong show of faith by investors in our exploration projects and our team and we look forward to commencing exploration activities early in the New Year. A 25-year hiatus in regional exploration has led to a critical shortage of new exploration projects of significant size. Global Geoscience wants to reverse that trend. With our experienced team and the advantage provided by our ‘Geoscience’ intellectual property, we believe we can make a real difference”.
Global has accumulated a portfolio of highly prospective and wholly-owned gold, silver and copper/gold projects located in Peru, Mexico, Nevada and Australia. The company is targeting greenfields exploration projects that it has identified and advanced through prior exploration programs. The projects are now at the stage where they can be advanced to drill testing stage in a timely and cost effective manner. Rowe said that exploration programs planned for the first three months after listing would focus on key projects that have returned highly encouraging results from previous work conducted by the Company including:
? Mancha Pampa in Peru is located 25 km south of the Yauricocha silver-copper-lead-zinc mine in central Peru. The project covers an area of extensive silica alteration with coincidental anomalous gold and arsenic in stream sediment samples. High silver, gold, copper and arsenic values have been obtained from reconnaissance soil geochemical sampling.
? Dun Glen in Northern Nevada, USA, lies within 70 km of multi-million ounce gold mines at Florida Canyon, Gold Banks, Lone Tree, Copper Canyon, Battle Mountain and Sleeper. Two separate areas of interest have been defined by stream sediment geochemical sampling, geological mapping and geophysical data.
? Tokop in Southern Nevada, USA, is located within the Walker Lane tectonic zone and within 60 km of major past-producing gold mines of Goldfield and Bullfrog. Gold mineralisation at Tokop occurs within a series of north-west and north-east trending ferruginous-siliceous zones and sheeted quartz veins developed within and adjacent to a multi-phase intrusive.
? Denham Range in Queensland, Australia, is located within the Bowen Basin. A strong copper (>1,000ppm) and gold (>100ppb) soil geochemical anomaly is the main target and has not been previously tested by drilling. Rock chip channel samples collected by a previous explorer from a trench excavated across the soil anomaly produced a best result of 50 m at 0.3g/t Au and 2.2% Cu.
“Drilling of these targets is planned to follow shortly thereafter, so we are looking forward to a very active period in the first 12 months of becoming a publicly-listed company.”
