Geographical isolation means the separation of species by physical barriers like water forms, oceans, mountains, etc.
The organisms are ultimately separated from exchanging genetic material with other organisms of the same species.
As there are fewer chances for variations to occur, new species are not formed in asexually reproducing individuals undergoing geographic isolation.
Examples:
A mountain range prevents two types of goat from mating, causing the gene pool to become less varied.
A group of genetically differentiated bottlenose dolphins is separated from other members of its species and eventually goes extinct.
An earthquake causes two populations to become separate from each other. Over time, each species experiences genetic makeup specific only to their own smaller, less diverse populations.