PERTH: GEO Exploration Ltd. (AIM: GEO) has acquired a 100% interest in the Gorge Project (E08/3737), a highly prospective gold exploration licence in Western Australia, through its wholly owned subsidiary Gorge Gold Pty Ltd.
The 81-square-kilometer licence, located 110 kilometers west of Paraburdoo in the Capricorn Orogen, hosts Proterozoic metasediments with historical gold mineralisation identified across a 5-kilometer strike. Previous exploration returned rock chip samples up to 134 grams per tonne (g/t) gold and soil samples up to 233 g/t gold.
The transaction includes A$100,000 in cash and A$400,000 in GEO shares issued at £0.004 per share—a 25% premium to GEO’s closing price on Oct. 16, 2025. All 48.13 million consideration shares are subject to a 12-month holding lock.
The granted licence comes with an executed Native Title Agreement. Under a Surface Rights Deed, the vendor retains near-surface rights to a depth of 2 meters (extendable to 4 meters), capped at 10,000 tonnes of material. GEO holds exclusive subsurface rights and an option to purchase surface rights outright for A$500,000 before June 30, 2030.
Work on the Gorge Project is scheduled to begin this quarter, targeting large-scale gold deposits in an area with limited prior exploration but strong historical indicators.