(TheNewswire)
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Vancouver, British Columbia, September 12, 2024 - TheNewswire: Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) (the "Company" or "Inflection") is pleased to provide an update on its recently completed Regional Ambient Noise Tomography (“ANT”) survey in New South Wales, Australia conducted under Phase I of the Exploration Agreement with AngloGold Ashanti Australia Limited (“AngloGold Ashanti”) announced on June 14, 2023.
Summary Highlights:
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Fleet Space Technologies (“Fleet Space”), in partnership with Inflection, completed a regional ANT survey with its end-to-end exploration solution, ExoSphere, covering 1,800 Km² of Inflection exploration licenses, all of which are included under the AngloGold Ashanti Agreement.
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Results from the ANT survey have been modelled to identify seismic features up to five km in depth.Previously unrecognised large-scale faults and zones of high seismic velocity were identified representing potentially large intrusions at depth.
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Integration of the ANT data in combination with all other datasets including airborne magnetics and gravity has led to the identification of four new priority targets.
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Priority targets are currently being assessed in conjunction with AngloGold Ashanti for potential higher resolution, target specific, ANT surveys with the goal of defining large scale drill targets.
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The Company also announces it has raised $922,125 through the exercise of share purchase warrants. This capital will be used for new business opportunities and for general working capital.
Alistair Waddell, Inflection’s President and CEO, states: "We are very pleased with the results of the regional ANT survey which is helping us rapidly to reduce the search space of our district scale land package and vector towards potential new porphyry style mineralization. We believe this cutting-edge ANT technology is an important new exploration tool as it provides a homogeneous, primary dataset that when combined with regional gravity and magnetic surveys is greatly assisting with the prioritisation of different areas for drill testing. This survey has generated a number of new, previously unrecognised target areas for follow-up higher resolution ANT surveys and/or drill targeting.”
“Conducting the world’s largest real-time ANT copper survey with Inflection in the Macquarie Arc is a seminal moment in the history of exploration. ExoSphere’s hyper-scalable, real-time 3D imaging is rapidly enhancing our understanding of the geology, opportunity zones and data-driven targeting potential in the Macquarie Arc and other copper systems worldwide,” added Flavia Tata Nardini, CEO & Co-Founder of Fleet Space Technologies. “We’re proud to contribute to Inflection’s pioneering exploration program as part of Phase I of the Exploration Agreement with AngloGold Ashanti and unlock new insights that could define the course of exploration in the region and beyond.”
Regional Ambient Noise Tomography Survey
Inflection, together with Fleet Space completed an approximate 1,800 Km² ANT survey using the company’s end-to-end mineral exploration solution, ExoSphere, across Inflection’s 100% owned projects in New South Wales (Figures 1 and 2). The aim of the survey was to collect large, homogeneous, multimodal, 3D subsurface primary data to identify belt-scale architecture, including large intrusive centres and potential cross-arc structures. Cross-arc structures are widely considered important in the Macquarie Arc and in other volcanic arcs elsewhere as they are known to vector fluid flow and often influence the emplacement of large-scale intrusive bodies and mineral systems.
The outputs of the survey have been applied to Inflection’s evolving interpretation of the covered, northern extension of the Macquarie Arc to prioritise the existing targets and generate new ones. 3D seismic velocity and 2D depth slices from the survey suggest the presence of larger batholiths at depth, manifesting as velocity highs and major crustal faults manifesting as velocity lows (Figure 1). Large intermediate to felsic batholiths or causative intrusive complexes are important in other copper-gold porphyry systems in NSW such as at Newmont’s Cadia mine complex and Evolution Mining’s Northparkes mine complex.
The ANT data has been analysed in conjunction with regional aeromagnetic, gravity and Inflection drill data, which defined the following high priority targets, detailed below and shown on Figure 1. Follow up work on these targets is currently being planned in conjunction with AngloGold Ashanti which may involve higher resolution, target specific ANT surveys or direct drill testing.
Duck Creek Phase II Designated Project:
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Target 102:
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Strong, high seismic velocity zone – Approximately 6 x 6 kilometres.
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Located approximately 23 km south of the northern Duck Creek Zone.
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Zone of coincidental high aeromagnetic response.
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Zone of low Bouguer Gravity response, consistent with an intermediate to felsic large intrusion at depth.
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Duck Creek Phase II Designated Project:
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Target 104:
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Moderate seismic velocity zone – Approximately 3 x 3 kilometres.
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Spot aeromagnetic high.
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Northwest oriented structural corridor defined in modelled aeromagnetic data.
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Phase I Regional Recon Program:
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Target 103 (Canonba):
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Strong high seismic velocity zone – Approximately 4 x 4 kilometres.
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Zones of aeromagnetic high.
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Tourmaline-biotite-magnetite hydrothermal alteration identified in volcaniclastic host rocks and monzonites in nearby Canonba drill holes CANDH003 and CANDH004.
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Zone of Bouguer Gravity low.
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Phase I Regional Recon Program:
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Target 105 (Myallmundi)
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Large zone of high velocity – Approximately 8 x 40 kilometres with a zone of discrete (5 x 4 km) lower seismic velocity consistent with zones of hydrothermal alteration.
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Monzodiorite to quartz-monzonite intrusions present in Inflection drill holes indicative of multi-phase intrusive activity.
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Intense sericite-biotite-magnetite alteration present in Inflection drill holes suggestive of a porphyry proximal environment.
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Figure 1: - ANT data -400mRL (elevation) - Depth slice of the ANT velocity anomaly model.
Click Image To View Full Size
Figure 2: Map showing the location of the Regional ANT survey in New South Wales.
Warrants and Additional Capital
The Company has raised gross proceeds of $922,125 through the exercise of 6,147,500 share purchase warrants priced at $0.15 per common share. The funds will be used for new business opportunities and for general working capital.
Carron Project - Queensland
Inflection completed a total of eight drill holes on the project, testing eight separate targets spread over approximately 23 km interpreted to represent Croydon style vein-hosted gold mineralization. Despite intercepting numerous zones of quartz veining under a blanket of sedimentary cover as modelled, the Company has elected to cease further work on the project based on a lack of any significant gold or multi-element geochemistry.
Qualified Person and Sampling Quality Control:
The scientific and technical information contained in this news release has been reviewed and approved by Mr. Carl Swensson (FAusIMM), a “Qualified Person” (“QP”) as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Inflection’s NSW Projects:
The Company is systematically exploring for large copper-gold deposits in the northern interpreted extension of the Macquarie Arc, part of the Lachlan Fold Belt in New South Wales. The Macquarie Arc is Australia’s premier porphyry copper-gold province host to Newmont’s Cadia deposits, Evolution Mining’s Cowal and Northparkes deposits plus numerous exploration prospects including Boda, the discovery made by Alkane Resources.
The Company uses cost-effective mud-rotary drilling to cut through unmineralised post-mineral sedimentary cover before transitioning to diamond core drilling once the prospective basement is reached. It is well documented that mineralised bodies elsewhere in the belt, in particular porphyry and intrusive related systems have large district-scale alteration and geochemical halos or footprints surrounding them. The Company typically completes a series of short diamond drill holes into the basement bedrock with multiple data points gained from alteration and mineral geochemistry which is then used to vector additional deeper holes. This is a proven exploration methodology in the covered segments of the Macquarie Arc having been directly responsible for the discovery of the Northparkes and Cowal deposits.
About Inflection Resources Ltd. Inflection is a technically driven copper-gold focused mineral exploration company listed on the Canadian Securities Exchange under the symbol “AUCU” and on the OTCQB under the symbol “AUCUF” with projects in Australia. For more information, please visit the Company website at www.inflectionresources.com.
Inflection is part of the NewQuest Capital Group which is an entrepreneurial, discovery-driven investment group that builds value through the incubation and financing of early-stage mineral exploration projects globally. Further information about NewQuest can be found at www.nqcapitalgroup.com
On behalf of the Board of Directors
President and CEO
alistair@inflectionresources.com
For further information, please contact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
Forward-Looking Statements: This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, amount of drilling, receipt of the maximum amount of available grant funding, anticipated content, commencement and cost of exploration programs in respect of the Company's projects and mineral properties, AngloGold Ashanti’s anticipated funding of the Minimum Commitment and timing thereof, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's exploration plans. the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated June 12, 2020 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.
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