Gold soars to record high over $3,900/oz amid yen slump, US rate cut bets
PERTH - Geo Exploration Limited (LSE AIM:GEO) has completed its first drill hole at the Juno Project in Western Australia and commenced drilling at a second location, the company announced Friday.
The first drill hole, JUD001, reached a final depth of 810 meters on September 15, successfully intersecting all targeted rock sequences. Drilling equipment has since been relocated to a second prepared pad where hole JUD002 is now underway.
Core samples from the completed hole will be sent to a laboratory for analysis in the coming days, with assay results expected during the fourth quarter of 2025.
The Juno Project represents a greenfield exploration opportunity in what the company describes as an underexplored region. The project area spans an interpreted footprint of 4 kilometers by 2 kilometers.
"Completion of our first drill hole at Juno is a key milestone," said Omar Ahmad, CEO of Geo Exploration Limited, in the press release statement.
Callum Baxter, the company’s Joint Venture Partner, noted that "the hole successfully intersected all rock sequences we anticipated and the field team are performing very well."
The company indicated this drilling program is part of a systematic approach to evaluate the potential of the Juno Project area. No specific mineral findings or preliminary results were disclosed in the announcement.
The information was provided in a regulatory news service announcement that the company identified as containing inside information under UK Market Abuse Regulations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.