Global Petroleum Ltd (AIM:GBP) shares were on the front foot on Thursday, as investors found encouragement in the findings of a aerial survey – of a metal project.
The airborne aeromagnetic survey, at the Juno project, indicated the presence of a strong, large-scale magnetic feature, highlighting new structures not previously observed with historical, lower-resolution data.
GBP told investors that the data will help it target gold and copper deposits similar to other targets in Western Australia, namely the Havieron and Telfer projects, which have shown promising mineralization associated with magnetic anomalies.
In London, GBP shares were up 8% changing hands at 0.2p – having traded up to 0.23p in earlier trade.