August 5, 2009 Global Geoscience Limited announced an underwritten pro-rata non-renounceable entitlement offer on the basis of one (1) new fully paid ordinary share for every one ordinary share held by a shareholder in the company as at 7.00 pm Eastern Standard Time on 12 August 2009 at an issue price of $0.035 per New Share. The number of New Shares to be issued under the Entitlement Offer is 31,430,000 which will raise a total of $1,100,050 (before issue costs). The company intends to apply the funds to accelerate exploration (including drill testing) on its key gold and copper-gold projects located in the USA, Mexico, Peru and Australia as described in the June Quarterly Report. This includes the New Morenci project in Arizona where recent work completed by the Company indicates that the target area may represent a fault off-set of the giant Morenci copper deposit (6Bt at 0.42% copper) located 2km to the south.
July 16, 2008 Identified a previously untested copper geochemical anomaly. After selecting the area due to its favorable regional structural signature, Global initially completed fine fraction, stream sediment sampling. Samples shedding from the area of the eventual copper soil anomaly contained 566 and 306ppm Cu, and 15 and 8ppm Mo, respectively. Soil sampling was then undertaken in the area covering and surrounding the anomalous drainages. Soil lines were completed along ridges and spurs with samples spaced every 25 or 50m. An anomalous copper zone approximately 1000m long and 500m wide was discovered. This zone generally contains samples containing over 200ppm Cu (and up to 584ppm) and 5ppm Mo (and up to 8ppm). The rock outcrops in this anomalous zone mainly consist of fractured and veined quartzite.
