AngloGold Ashanti Advances Copper-Gold Exploration with Inflection Resources in Australia
Vancouver, British Columbia -- March 25, 2025 -- NewsGenie -- Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) reports that AngloGold Ashanti Australia Limited (NYSE: AU / JSE: ANG) has completed Phase I of their Exploration Earn-in Agreement, investing AUD$10,000,000 in Inflection's copper-gold projects in New South Wales, Australia. Four projects—Duck Creek, Trangie, Crooked Creek, and Nyngan—will proceed to Phase II.
Under Phase II, AngloGold Ashanti can earn a 51% interest in each project by funding AUD$7,000,000 in exploration over three years. Phase III allows AngloGold Ashanti to earn a 65% interest by investing an additional AUD$20,000,000 over two years. Phase IV could bring AngloGold Ashanti’s stake to 75% by completing a Pre-Feasibility Study and granting Inflection a net smelter return royalty.
Following Phase I, AngloGold Ashanti acquired a 9.9% equity position in Inflection, with Inflection issuing 11,133,399 common shares at C$0.808 per share. Phase II drilling is underway at the Trangie project, following up on previously announced gold-copper mineralization.
Alistair Waddell, Inflection’s President and CEO, hailed the completion of Phase I as a major milestone and welcomed AngloGold Ashanti as a new shareholder. He expressed excitement about the ongoing drilling at the Trangie project.
The Trangie project, first drilled in 2020, shows a complex zone of magnetite enrichment. Recent drilling intersected significant pyrite chalcopyrite bearing quartz veinlets and wispy magnetite veins, indicative of a calc-potassic porphyry-proximal alteration zone. Step-out drilling is in progress to identify the core of a copper-gold system.
The Duck Creek project features a large zone of inner propylitic alteration with highly anomalous arsenic values. The Crooked Creek project presents compelling aeromagnetic highs, while drilling at the Nyngan project intersected a magnetite enrichment zone, indicating a fertile porphyry intrusive complex.
Carl Swensson (FAusIMM), a Qualified Person, has reviewed and approved the technical information in this release.
Figure 1: Map showing the location of the Inflection projects in New South Wales including the four Phase II AngloGold Ashanti Designated Projects.
Table 1: Summary structure of the AngloGold Ashanti Earn-in Agreement