Vancouver, British Columbia - TheNewswire - February 4, 2025:  Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) (the "Company" or "Inflection") is pleased to provide an update on drilling completed in late 2024 on the Trangie and Duck Creek projects in New South Wales, Australia conducted under an Exploration Agreement with AngloGold Ashanti Australia Limited (“AngloGold Ashanti”) announced on June 14, 2023.

 

Summary Highlights:

 

• At Trangie, hole TRNDH023 has intersected the most significant gold mineralisation by the Company to-date.  The hole returned the following intercepts: 

 

• • 54.37m at 0.37 g/t Au and 0.07% Cu from 194.63m 

    • including 17.24m at 0.45 g/t Au and 0.09% Cu from 194.63m 

    • including 8.00m at 0.67 g/t Au and 0.11% Cu from 200.00m 

    • including 2.00m at 1.28 g/t Au and 0.12% Cu from 200.00m 

    • including 34.04m at 0.39 g/t Au and 0.07%Cu from 214.96m 

    • including 7.52m at 0.67 g/t Au and 0.10% Cu from 238.48m 

 

• • 35.47m at 0.40 g/t Au and 0.06% Cu from 259.53m 

    • including 25.47m at 0.46 g/t Au and 0.06% Cu from 259.53m 

    • including 6.00m at 0.53 g/t Au and 0.06% Cu from 259.53m 

 

• • 21.45m at 0.22 g/t Au and 0.04% Cu from 346.00m 

    • including 12.00m at 0.34 g/t Au and 0.04% Cu from 346.00m 

 

• The mineralisation within TRNDH023 is associated with porphyry-style chalcopyrite-pyrite-magnetite bearing quartz veins in biotite-altered andesitic volcanics.  The style of mineralisation and alteration is considered highly encouraging for the potential discovery of better developed, higher grade mineralisation within the vicinity of this hole. 

 

• Four step-out drill holes on the Duck Creek project totalling 3,124m were drilled in proximity to the previously reported drill hole DCKDH020 (Inflection news release October 4, 2024) to follow-up on inner propylitic, porphyry-style alteration with highly anomalous arsenic (As) values.  Hole DCKDH024 intersected the largest zone of inner propylitic alteration with magnetite veinlets and assay values of 231m of 25ppm As from 389.65m and maximum gold values of 2.00m of 0.12 g/t Au.  The expanded zone of alteration and geochemistry suggests a vector at depth to potential porphyry-style mineralisation between holes DCKDH024 and DCKDH020, although the target is still open in several directions. 

Alistair Waddell, Inflection’s President and CEO, states: “We are delighted to announce these compelling drill results from our Trangie project which further validate the potential of our large property portfolio in New South Wales.  The discovery of broad zones of gold and copper mineralisation, displaying classic characteristics of alkalic porphyry systems within the Macquarie Arc, marks a pivotal milestone in our exploration program.  These mineralized intervals are particularly encouraging as they exhibit gold and copper grades consistent with the margins of other significant porphyry deposits in the belt, strengthening our conviction in the project's potential.  The step-out drilling at Duck Creek has also significantly expanded the alteration footprint discovered in drill hole DCKDH020, revealing a much-expanded target area that requires systematic follow-up exploration.”

 

Trangie Project Drilling (Phase I):

In Q4 2024, a re-evaluation of the geochemical and alteration data from all holes drilled in New South Wales to-date was completed.  Hole TRNDH023 was designed after collaboration with AngloGold Ashanti to follow up the porphyry related alteration and mineralisation intersected by the first phase of wide spaced drilling previously completed at Trangie.  This included hole TRNDH010 which intersected anomalous gold mineralisation.

 

TRNDH023 was drilled in a westerly direction at a dip of -70º to a total depth of 393.00m to test the central portion of an approximate 800m x 800m wide zone peripheral to earlier drill holes TRNDH002 and TRNDH010 (Figure 1).  Hole TRNDH023 intersected a significant zone of pyrite-chalcopyrite bearing quartz veinlets and wispy magnetite veins in biotite-actinolite altered andesites and volcaniclastic sediments, typical of a calc-potassic porphyry-proximal alteration zone (Figures 3 and 10).  The hole reported the following assay results:

• • 54.37m at 0.36 g/t Au and 0.07% Cu from 194.63m 

    • including 17.24m at 0.45 g/t Au and 0.09% Cu from 194.63m  

    • including 8.00m at 0.67 g/t Au and 0.11% Cu from 200.00m 

    • including 2.00m at 1.28 g/t Au and 0.12% Cu from 200.00m 

    • including 34.04m at 0.39 g/t Au and 0.07%Cu from 214.96m 

    • including 7.52m at 0.67 g/t Au and 0.10% Cu from 238.48m 

 

• • 35.47m at 0.40 g/t Au and 0.06% Cu from 259.53m 

    • including 25.47m at 0.46 g/t Au and 0.06% Cu from 259.53m 

    • including 6.00m at 0.53 g/t Au and 0.06% Cu from 259.53m 

 

• • 21.45m at 0.22 g/t Au and 0.04% Cu from 346.00m 

    • including 12.00m at 0.34 g/t Au and 0.04% Cu from 346.00m 

 

Note:  Composites calculated using a 0.1 g/t Au cut off with max 4m internal dilution.

 

Importantly, the intercepts show a strong correlation between Au, Cu and Ag, with a negative or low correction between Au, Te and Sb, which strongly imply a relationship to porphyry copper-gold style mineralisation rather than higher crustal-level epithermal style gold.  The geochemically barren zone between 249.00 and 259.53m correlates with a post-mineral basaltic unit.

 

These compelling assay results suggest a possible vector towards the south and west of drill hole TRNDH023 with increasing gold and copper values, magnetite, quartz vein development and biotite-actinolite alteration, typical of a calc-potassic porphyry-proximal alteration zone (see Figure 10).  This zonation is evident by the transition from distal propylitic alteration in drill hole TRNDH017 to more porphyry-proximal calc-potassic alteration in drill holes TRNDH010 and TRNDH023 and remains open in all directions (Figure 2).

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Figure 1:  Trangie project drill hole location map (Airborne magnetic RTP-1VD) which shows location of geological cross section shown in Figure 2.

 

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Figure 2:  Trangie project interpretive geological SW-NE cross section (± 500m) with gold and copper geochemical values.  The geochemically barren zone in hole TRNDH023 between 249.00 and 259.53m correlates with a post-mineral dyke.

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Figure 3:  Select photos of hole TRNDH023 drill core.  Pyrite-chalcopyrite bearing quartz veinlets and wispy magnetite veins in biotite-actinolite altered andesitic volcanics.

 

Comparisons:

To provide some basis for the exploration relevance of the results of drill hole TRNDH023, we provide the following comparisons from two significant alkalic Cu-Au deposits from the Macquarie Arc.  These comparisons in both grade and alteration mineralogy suggest the results from TRNDH023 are consistent with the margins of these well documented deposits.

 

Magnetite-biotite-actinolite-sulphide veins are common within and/or close to the causative intrusions at the Ridgeway deposit at Newmont Corporation’s (NYSE:NEM / TSX:NGT / ASX:NEM) Cadia Mine (Wilson et al., 2003, Wood, 2012a and 2012b)*.

 

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Figure 4:  The Cadia-Ridgeway discovery drill sequence from the early holes RGRC1 and NC371 to the discovery hole NC498 (Wood, 2012b).

The Cadia-Ridgeway discovery sequence shows two early drill holes reporting 8m at 0.42 g/t Au and 0.51% Cu and 102m at 0.13 g/t Au and 0.40% Cu in holes RGRC1 and NC371 respectively.  Follow-up hole NC498, drilled less than 150m under NC371, returned 145m at 4.30 g/t Au and 1.20% Cu and 84m at 7.40 g/t Au and 1.27% Cu which was widely reported as the discovery hole (Wood, 2012b and Holliday et al., 2002) (Error: Reference source not found).

 

Several comparisons can also be drawn between this intersection and the early holes drilled into Alkane Resources Ltd.’s Boda-Kaiser deposits in New South Wales (Meates et al. 2022)*.

 

Early holes into the Boda-Kaiser Project reported:

• • KSRC018 - 311m at 0.28 g/t Au, 0.06% Cu (See Figure 5) 

  • RC95DB002 - 72m at 0.26 g/t Au (no Cu reported) 

  • KSRC022 - 290m at 0.17 g/t Au (no Cu reported) 

  • KSRC020 - 233m at 0.17 g/t Au, 0.12% Cu 

  • KSRC016 - 176 m at 0.20 g/t Au (no Cu reported) 

 

Follow up drillhole KSDD003 returned 502m at 0.48 g/t Au and 0.20% Cu from 211m including 108m at 1.06 g/t Au and 0.41% Cu from 408m (Figure ) (Meates et al., 2024 and other references therein).

 

Figure 5:  Alkane Resources Boda deposit cross section 6411132mN showing earlier hole KSRC018 and the discovery hole KSDD003 (Meates, et al., 2022).

                

Duck Creek Project Drilling (Phase II):

Four Phase II mud rotary drill holes with diamond-core tails were drilled to step-out from highly anomalous inner propylitic alteration and elevated As (>25ppm) intersected in Duck Creek drill hole DCKDH020 for a total of 3,124m (Figure 6).  Each of the four step-out holes were positioned between 660m and 1,125m from the collar of hole DCKDH020.

 

Drill hole DCKDH024 was collared 800m south of DCKDH020 in a northerly direction with a dip of -70º and to a depth of 751m.  This drill hole intersected an extensive zone of inner propylitic alteration similar to that found in hole DCKDH020 coincident with 218m of >25ppm As, elevated magnetite content and maximum gold assay values of 2.00m at 0.12 g/t Au (Figures 7, 8 and 9).

 

Drill hole DCKDH022 was collared 1,125m east-northeast of hole DCKDH020 at a dip of -70º and to a depth of 805m in a west-southwesterly direction into a large magnetic high.  This hole intersected a minor zone of inner propylitic alteration and low As values, which potentially downgrades this specific zone to the east-north-east.  

 

Drill hole DCKDH023 was collared 660m north of drill hole DCKDH020 in a southerly direction at a dip of -70º and to a depth of 718m.  Similarly, this hole intersected a minor zone of inner propylitic altered basement volcanics and which potentially downgrades this specific zone to the north.

 

Drill hole DCKDH025 was collared 840m west of hole DCKDH020 in an easterly direction at a dip of -70º and to a depth of 751m.  This hole intersected a narrow zone of propylitic altered basement volcanic rocks with 142m of >25ppm As from 442m.

 

These very broadly spaced drill holes indicate that an inner propylitic alteration system and zone of highly elevated As anomalism is open at depth between holes DCKDH020 and DCKDH025 and will be the focus of the Company going forward.  Several of the alteration footprints of other world-class porphyry copper-gold deposits in the Macquarie Arc, such as Cadia and Northparkes, could potentially fit within this zone (Wilson, 2003, Wood, 2012a & b and Pacey et al., 2019)*.

 

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Figure 6:  Duck Creek drill hole location map on total magnetitic intensity aeromagnetic image with reduce-to-pole and first vertical derivate filters with location of geological cross sections A-B and C-D.

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Figure 7:  Duck Creek project N-S geological cross section (537150mE ± 1000m looking west) which shows interpreted alteration and anomalous Arsenic values.

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Figure 8:  Duck Creek project ~E-W geological cross section (6539100mE ± 2000m) which shows interpreted alteration and anomalous Arsenic values.

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Figure 9:  Select photos of hole DCKDH024 drill core.  Epidote-chlorite-pyrite-hematite-magnetite-tourmaline Inner Propylitic alteration in brecciated volcanic rocks and monzodiorite intrusion.  The intensity of magnetite-tourmaline veining and alteration is considered highly encouraging.

 

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Figure 10:  Schematic illustration of alteration zoning and overprinting relationships in an alkalic porphyry system, based on geological relationships from the Cadia East porphyry Cu-Au deposit (Tedder et al., 2001; Wilson 2003; Cooke et al., 2007). From Paper 53 Advances in Geological Models and Exploration Methods for Copper ± Gold Porphyry Deposits Holliday, J. R. [1], Cooke, D. R.

 

AngloGold Ashanti Phase I Exploration Agreement Terms:

The Phase I work program noted above forms part of the AngloGold Ashanti Exploration Agreement where AngloGold Ashanti is funding up to AUD$10,000,000 on exploration expenditures across a wide range of different intrusive related exploration targets.  Inflection is operating Phase I and is receiving a 10% management fee for doing so.  Upon completion of Phase I, AngloGold Ashanti retains the right to designate up to five individual projects where it may potentially earn up to a 75% interest in each by completing various milestones.  See Inflection news release dated June 14, 2023 for further details.

 

AngloGold Ashanti Phase II Duck Creek Exploration Agreement Terms:

AngloGold Ashanti elected to designate the Company’s Duck Creek Exploration License as a Phase II Project as part of the Exploration Agreement.  See Inflection news release dated May 2, 2024 for further details.

As part of Phase II at Duck Creek, AngloGold Ashanti retains the right to earn an initial 51% interest in the project by investing AUD$7,000,000 in exploration expenditures (Table 1).  Upon completion of Phase II, AngloGold Ashanti retains the additional right, as part of a Phase III program, to earn up to a 65% interest by investing a further AUD$20,000,000 in expenditures.  Upon completion of Phase III, AngloGold Ashanti retains the right to earn up to a 75% interest by completing a pre-feasibility study with a minimum two-million-ounce gold or copper-gold equivalent resource (Measured & Indicated category) and ceding a 2% net smelter return royalty to Inflection.

Inflection is operating Phase II and is receiving a 10% management fee for doing so.  See Inflection news release dated June 14, 2023 for further details.

 

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Table 1:  Table outlining the principal financial terms of the AngloGold Ashanti Exploration Agreement.  PFS = Pre-Feasibility Study.

 

References:

Cooke D. R., A. J. Wilson, M. J. House, R. C. Wolfe, J. L. Walshe, V. Lickfold, and A. J. Crawford, 2007, Alkalic porphyry Au-Cu and associated mineral deposits of the Ordovician to Early Silurian

Macquarie Arc, NSW: Australian Journal of Earth Sciences, 54, 445 – 463.

 

Holliday, J. R., Wilson, A. J., Blevin, P. L, Tedder, I. J., Dunham, P. D., and Pfitzner, M., 2002, Porphyry gold–copper mineralisation in the Cadia district, eastern Lachlan Fold Belt, New South Wales, and its relationship to shoshonitic magmatism, Mineralium Deposita (2002) 37: 100–116.

 

Holliday, J. R and Cooke D. R, 2007, Advances in Geological Models and Exploration Methods for Copper ± Gold Porphyry Deposits In "Proceedings of Exploration 07: Fifth Decennial International Conference on Mineral Exploration" edited by B. Milkereit, 2007, p. 791-809

 

Meates, D., Dean, R., Chalmers, I., 2022, The Boda Porphyry Discovery, in proceedings from the Discoveries in the Tasmanides Conference a Mines and Wines event, Orange, NSW. PowerPoint Presentation.

 

Meates, D., Dean, R., Cherry, A., Carras, A., and Chalmers, I., 2024, Northern Molong Porphyry Project – Boda-Kaiser Au-Cu Porphyry system in proceedings from the Discoveries in the Tasmanides Conference a Mines and Wines event, Albury, NSW.

 

Tedder, I. J., J. Holliday, and S. Hayward, 2001, Discovery and evaluation drilling of the Cadia Far East gold-copper deposit: NewGen Gold 2001 - Case Histories of Discovery, Australian Mineral Foundation, 171-184.

 

Wood, D., 2012a - Discovery of the Cadia deposits, NSW. Australia (Part 1): in SEG Newsletter, Jan. 2012, No. 88 pp. 1, 13-18.

 

Wood, D., 2012b - Discovery of the Cadia deposits, NSW. Australia (Part 2): in SEG Newsletter, Apr. 2012, No. 89 pp. 1, 17-22.

Wilson, A. J., 2003. The geology, genesis and exploration context of the Cadia gold- copper porphyry deposits, New South Wales, Australia. Unpublished Ph.D. dissertation, University of Tasmania, 320 p.

 

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.

 

In presenting a number of examples in this release for comparison including the Cadia mine and Boda deposits, the Company in no way implies that future exploration in the Trangie project will necessarily result in the discovery of similar economic mineral deposits.  *The qualified person of this report has not verified the information on the adjacent properties/deposit and the information disclosed is not necessarily indicative of mineralization on Inflection Resources Ltd. projects.

 

Drilling is conducted using a truck-mounted multi-purpose drill rig.  Mud rotary drilling is utilised to drill through the cover sequence before transitioning to diamond drilling using NQ sized core at the unconformity.  Core is logged at the Company’s field office, photographed and marked before being cut to the Company’s specified sample intervals.  Half core samples are placed in bags with internationally certified blanks and standards inserted.  Samples are dispatched to ALS Laboratories in Orange NSW, an accredited analytical laboratory meeting ISO/IEC 17025:2005 and ISO 9001:2015.  Samples are prepared by crushing and grinding via ALS methods CRU-21 and PUL-32 respectively.  The pulps are then assayed for 48 elements via ALS method ME-MS61 using a 25g sample after a four acid near total digest with an ICP-MS finish.  Gold is assayed by fire assay using ALS method Au-AA23 using a 30g sample charge and AAS finish.  Laboratory standards and QA-QC are monitored by the Company.  Coarse rejects from the sample preparation are subjected to spectral analysis.

 

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 unmineralized post-mineral sedimentary cover before transitioning to diamond core drilling once the prospective basement is reached.  It is well documented that mineralized 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 copper-gold focused mineral exploration company listed on the Canadian Securities Exchange under the symbol “AUCU”, on the OTCQB under the symbol “AUCUF” and on the Frankfurt Stock Exchange under the symbol “5FJ”, with projects in New South Wales, 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

 

Alistair Waddell

President and CEO

alistair@inflectionresources.com

 

For further information, please contact:

 

Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016

bzerb@inflectionresources.com

 

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’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.