(TheNewswire)
Inflection Resources IntersectsOrogenic Quartz Lodes at Carron Gold Project, Queensland,Australia
Vancouver, British Columbia - TheNewswire - March 31, 2022 - Inflection Resources Ltd. (CSE:AUCU) (CNSX:AUCU.CN) (FSE:5VJ)(OTC:AUCUF) (the "Company" or“Inflection”) is pleased to provide an exploration update from itsCarron gold project located in Northern Queensland, Australia. Exploration has been focused on two high-priority orogenic lode goldtargets along trend from the historic Croydon gold miningdistrict.
Summary Highlights
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Inflection has completed two additional scout drillholes into the Carron project located innorthern Queensland, Australia. The Company has now drilled four holes totalling 1,030 metres on theproject located approximately 60 kilometres north of the high-gradeCroydon gold mining district;
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Three of the four completed holes have successfullyintersected widely spaced, orogenic, quartz vein lode systems withsphalerite and galena hosted in graphitic metasedimentary rocks. Thesphalerite and galena hosted in graphitic metasediments at Carron aretypical of that seen at Croydon;
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The current drilling providesincreased confidence in the exploration model and the ability tosuccessfully target blind, orogenic quartz veins through barren,post-mineral cover;
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Given the potential strike length of the anomalousstructures which extend over approximately 30 kilometres within thelicence area, many targets still remain to be tested in the 2022 dryseason and significant scope remains for the discovery of mineralisedshoots; and,
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The Company has engaged renowned geological consultantsDr. Gregg Morrison and Dr. Douglas Haynes to provide an interpretationof the drill results and specific recommendations for furtherdrilling.
Alistair Waddell, Inflection’s President and CEO,states: “Inflectioncontinues to systematically explore the Carron project forCroydon-style gold-bearing quartz veins. While the results returnedto-date report low tenor gold values, we remain confident thatadditional targeting work can lead to the identification of high-gradegold bearing vein sets and shoots in this large district scale systemthat extends over thirty kilometres. We are also very muchencouraged by the ability to target and successfully intercept blindquartz veins though a sequence of post-mineral cover.”
The Carron project is located approximately 400kilometres west of Cairns in Northern Queensland. Inflection hasidentified a series untested orogenic potentially gold-bearing quartzvein and intrusion related gold targets on trend from the historicCroydon Goldfields, one of Queensland’s more significant high-gradegold mining districts. Total production from the Croydon Goldfieldsafter 1885 is reportedly over one million ounces from numerousquartz-vein lode deposits reportedly with an average of 35 g/tAu (1) .
The Carron targets were generated by analysing datafrom a regional airborne magnetic survey completed by the QueenslandGovernment. The magnetic data outlined a series of large north-westtrending magnetic anomalies under post-mineral sedimentary cover,which intermittently extend for over 30 kilometres. Consequently,the Company flew a 3,855-line kilometre airborne high-resolutionmagnetic survey with 50-metre line spacing for better targetdefinition and to enable drill hole positioning. The high resolutionairborne magnetic data was processed, and 3D magnetic vector inversionand conventional susceptibility inversion modelling completed.
Inflection has now completed four holes totalling 1,030metres (Figure 1) since the inception of the Carron drill program,although drilling has been paused during the northern Australian wetseason when the project area is generally inaccessible. Best results reported from the recent holes include: 4mgrading 0.083 g/t Au from 145m, in hole CADH004 which includes 1mgrading 0.123 g/t Au, 137.5 ppm As from 146m. This zone reported lowmagnetite susceptibility values suggestive of magnetite destruction byhydrothermal alteration.
Figure 1 . Carron project drill holelocations on total magnetic intensity (TMI) reduced to pole (RTP) withinterpreted district scale structures (MGA94 Zone 54).
The Company has engaged renowned geological consultantsDr. Gregg Morrison and Dr. Douglas Haynes to provide an interpretationof the drill results and recommendations for further drilling. Thereports from these consultants are pending. It is anticipatedadditional drill targets will be drilled in the dry season whichtypically extends from May through to November.
Drill hole CADH003 tested a Croydon-style vein array target associated with an inferredmagnetite depleted zone on the flank of Bouguer Gravity anomaly lowand a magnetic high. The hole targeted the margin of an inferredintrusion and intersected the unconformity at 138.85m down hole and asequence of basement metasediments. A 6.8m structural zone wasintersected from 193.5 to 200.3m down-hole with 20% quartz veins andtraces of arsenopyrite and pyrite. Minor chalcopyrite was noted inthe hanging wall of the structure from 163.5 to 198.3m down-hole andtraces of red sphalerite from 182.1 to 193.5m. The structure wasmeasured to strike 352 ? degrees and dip 50 0 E whichis broadly consistent with the attitude and dip of the Croydongold-bearing vein deposits with the sphaleriteand galena typical of that seen at Croydon.
Hole CADH004 tested a Croydon style vein target whichintersected the unconformity at 132.1m down hole and terminated at236.3m (Figure 2). The lithologies throughout the basement weresimilar to hole CADH003. The target vein structure was intersectedover a 7.6m zone from 186.2 to 193.8m down-hole characterised bystrongly brecciated quartz veins, similar to that encountered inCADH002; however, with low base metal sulphide content. Minor amounts of sphalerite, chalcopyrite and pyrite areassociated with the quartz veins throughout the structure.
F igure 2 – CADH004 – Quartz veining andquartz vein stockwork extending from approximately 186.2 to 193.8metres down hole.
Qualified Person
The scientific and technical information contained inthis news release has been reviewed and approved by Mr. Carl Swensson(FAusIMM), a “Qualified Person” (“QP”) as defined in NationalInstrument 43-101 – Standards of Disclosure for Mineral Projects.
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Van Eck M, Child R1990 – Croydon Gold deposits: in Hughes F E (Ed.), 1990 Geology ofthe Mineral Deposits of Australia & Papua New Guinea The AusIMM,Melbourne Mono 14, v1 pp 979-982
Sampling Quality Control
Drilling was conducted using a track-mountedmulti-purpose drill rig. Mud rotary drilling was utilised to drillthrough the cover sequence before transitioning to diamond drillingusing NQ sized core at the unconformity. Core was preliminary loggedon site before being transported to Dynamics G-Ex secure facility inMt. Isa, Queensland. Here the core was logged in detail,photographed, and marked before being cut to the Company’s specifiedsample intervals by Inflection staff. Half core samples were placedin bags with internationally certified blanks and standardsinserted.
Samples were dispatched to ALS Laboratories inTownsville, Queensland, an accredited analytical laboratory meetingISO/IEC 17025:2005 and ISO 9001:2015. Samples were prepared bycrushing and grinding via ALS methods CRU-32a and PUL-25crespectively. The pulps were then assayed for 48 elements via ALSmethod ME-MS61 using a 25g sample after a four acid near total digestwith an ICP-MS finish. Gold was assayed by fire assay using ALSmethod Au-AA23 using a 30g sample charge and AAS finish. Laboratorystandards and QA-QC are monitored by the Company. Coarse rejectsfrom the sample preparation are subjected to SWIR and VNIR spectralanalysis by AUSPEC. The core is stored in a secure lock-up facilityin Mt. Isa.
About Inflection Resources Ltd. Inflection is a technically driven gold andcopper-gold focused mineral exploration company listed on the CanadianSecurities Exchange under the symbol “AUCU” with projects inEastern Australia. The Company is systematically drill testing a large portfolioof drill-ready projects in New South Wales and in Queensland.
The Company is exploring for large gold and copper-gold deposits in the northern interpretedextension of the Macquarie Arc, part of the Lachlan Fold Belt in NewSouth Wales. The Macquarie Arc isAustralia’s premier porphyry gold-copper province being host toNewcrest Mining’s Cadia Valley deposits, the CMOC Northparkesdeposits and Evolution Mining’s Cowal deposits plus numerous activeexploration prospects including the Boda project, the recent discoverymade by Alkane Resources.
For more information, please visit the Company’swebsite at www.inflectionresources.com .
On Behalf of the Board ofDirectors
“Alistair Waddell”
President and CEO
For further information, pleasecontact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
Forward-Looking Statements: This news release includes certainforward-looking statements and forward-looking information(collectively, "forward-looking statements") within themeaning of applicable Canadian securities legislation. All statements,other than statements of historical fact, included herein including,without limitation, statements regarding future capital expenditures,receipt of the maximum amount of available grant funding, anticipatedcontent, commencement, and cost of exploration programs in respect ofthe Company's projects and mineral properties, and the anticipatedbusiness plans and timing of future activities of the Company, areforward-looking statements. Although the Company believes that suchstatements are reasonable, it can give no assurance that suchexpectations will prove to be correct. Often, but not always, forwardlooking information can be identified by words such as "proforma", "plans", "expects", "may","should", "budget", "scheduled","estimates", "forecasts", "intends","anticipates", "believes", "potential"or variations of such words including negative variations thereof, andphrases 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 fromany future results, performance or achievements expressed or impliedby the forward-looking statements. Such risks and other factorsinclude, among others, statements as to the anticipated business plansand timing of future activities of the Company, including theCompany's exploration plans. the proposed expenditures for explorationwork thereon, the ability of the Company to obtain sufficientfinancing to fund its business activities and plans, delays inobtaining governmental and regulatory approvals (including of theCanadian Securities Exchange), permits or financing, changes in laws,regulations and policies affecting mining operations, the Company'slimited operating history, currency fluctuations, title disputes orclaims, environmental issues and liabilities, as well as those factorsdiscussed under the heading "Risk Factors" in the Company'sprospectus dated June 12, 2020 and other filings of the Company withthe Canadian Securities Authorities, copies of which can be foundunder the Company's profile on the SEDAR website at www.sedar.com .
Readers are cautioned not to place undue reliance onforward-looking statements. The Company undertakes no obligation toupdate any of the forward-looking statements, except as otherwiserequired by law.
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