(TheNewswire)
Vancouver, British Columbia – TheNewswire - June 12, 2024 : Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) (the"Company" or "Inflection") is pleased to providean update on a large-scale geophysical survey in New South Wales,Australia conducted under an exploration agreement (the “ExplorationAgreement”) with AngloGold Ashanti Australia Limited(“AngloGold”) and in partnership with Fleet Space Technologies(“Fleet Space”).
Summary Highlights:
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Inflection and FleetSpace have initiated a ~1,800 Km² Ambient Noise Tomography(“ANT”) Survey using the real-time ANT survey capabilities oftheir end -to-end mineralexploration solution, ExoSphere, across the Inflection portfolio ofprojects in New South Wales, all of which are included as part of theExploration Agreement with AngloGold;
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The aim of the survey is to collect large-scale, 3Dsubsurface data to identify belt-scale architecture includingpotential cross-arc structures which are known to vector fluid flowand often influence the emplacement of large-scale intrusive bodiesand mineral systems;
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The outputs of the survey will be incorporated intoInflection’s evolving interpretation of the Macquarie Arc under ablanket of post-mineral cover with the goal of prioritising theexisting drill targets and potentially generating new ones.
Alistair Waddell, Inflection’s President and CEO,states: “The end-to-endcapabilities of ExoSphere and the 3D subsurface insights it unlockedat our Duck Creek Project, has helped Inflection rapidly identifyseveral new high-priority drill targets and has demonstrated that theExoSphere system can accelerate the data-driven exploration of ourprojects. We’re excited to work with Fleet Space again and deployExoSphere on a large scale across Inflection’s projects in theMacquarie Arc and leverage Fleet Space’s AI-powered prospectivityinsights to aid our exploration across Australia’s premier porphyrycopper-gold province.”
Flavia Tata Nardini, Fleet Space CEO & Co-Founder,states: “Without a majoracceleration in copper discoveries, humanity’s transition torenewable energy and building the infrastructure necessary for theglobal AI industry are unachievable. We are proud to conduct theworld’s largest mineral exploration survey with Ambient NoiseTomography in support of Inflections’ data-driven exploration of theMacquarie Arc with our end-to-end solution, ExoSphere and deliversustainable subsurface insights at scale with our next-generation AIcapabilities.”
Ambient Noise Tomography (“ANT”)Survey:
Inflection, together with Fleet Space has initiated anapproximate 1,800 Km² ANT survey across Inflection’s 100% ownedprojects in New South Wales (Figure 1). The aim of the survey is tocollect large, homogeneous, multimodal, 3D subsurface primary data toidentify belt-scale architecture including large intrusive bodies andpotential cross-arc structures.
Cross-arc structures are widely considered important inthe Macquarie Arc and in other volcanic arcs elsewhere as they areknown to vector fluid flow and often influence the emplacement oflarge-scale intrusive bodies and mineral systems.
The outputs of the survey will be applied toInflection’s evolving interpretation of the post-mineral covered,northern extension of the Macquarie Arc with the goal of prioritisingthe existing targets and potentially generating new ones.
Figure 1: Map showing the locationof the ANT survey in New South Wales.
Exploring the Macquarie Arc withSpacetech & AI:
Inflection and Fleet Space Technologies are pioneeringthe use of space technology and AI to accelerate the discovery oflarge-scale copper-gold deposits in Australia's Macquarie Arc. Leveraging the real-time ANT survey capabilities of Fleet Space’send-to-end mineral exploration solution, ExoSphere, Inflectionidentified several new priority targets located beneath a thicksequence of sedimentary cover masking the underlying, olderprospective geology on its Duck Creek project.
Inflection had attempted a variety of geophysicalsurvey techniques to explore for copper and gold in the basement rocksover the Duck Creek Project area, however, the depth of post-mineralsedimentary cover and the conductivity of those sediments provedchallenging. This led Inflection to deploy Fleet Space’s ExoSphereover the area, taking advantage of its high-resolution imaging todepths of 2.5 kilometres, which is indifferent to conductive elementsin the sedimentary cover, including groundwater.
The subsurface insights delivered by ExoSphere’sgeophysical surveys at the Duck Creek Project enabled Inflection toidentify multiple new high priority drill targets . The 3D models generated byExoSphere detected low-velocity zones in areas where earlier scoutdrilling showed alteration typical of that seen in proximity to otheralkalic copper-gold porphyry systems in the Macquarie Arc andhigh-velocity features consistent with potential intrusions.
Fleet Space’s Large-Scale 3DSubsurface Data:
Fleet Space’s real-time data acquisition capabilitiesare enabled by its proprietary satellite constellation, smart seismicsensors (Geodes) and 3D data processing to enhance the speed andprecision of onsite decision making. ExoSphere’s ANT survey data has shown to be highly effective when compared to other geophysical methodsdue to its inherent scalability which allows for the generation ofhigh-quality 3D data sets at any scale with equal effectiveness. Byintegrating the ANT survey results with data from other geophysicaltechniques such as magnetic, gravity, EM, IP and more, ExoSphere’sAI engine can be fine-tuned to deliver a wide range of subsurfaceinsights to accelerate mineral exploration.
AngloGold Exploration AgreementTerms:
The Phase I work program noted above forms part of theAngloGold Ashanti Exploration Agreement where AngloGold is sole funding up to AUD$10,000,000 on explorationexpenditures across a wide range of different intrusion-relatedexploration targets. Inflection is operating the work programs andis receiving a 10% management fee for doing so. Phase II providesAngloGold the right to designate up to five individual projects whereit may potentially earn up to a 75% interest in each by completingvarious milestones. See Inflection news release dated June 14, 2023 for further details.
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 MineralProjects.
About Inflection’s NSWProjects:
The Company is systematically exploring for large 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 copper-gold province host toNewmont’s Cadia deposits, Evolution Mining’s Cowal and Northparkesdeposits plus numerous exploration prospects including Boda, thediscovery made by Alkane Resources.
The Company is using cost-effective mud-rotary drillingto cut through unmineralized post-mineral sedimentary cover beforetransitioning to diamond core drilling once the prospective basementis reached. It is well documented that mineralized bodies elsewherein the belt, in particular porphyry and intrusive related systems havelarge district-scale alteration and geochemical halos or footprintssurrounding them. The Company typically completes a series of shortdiamond drill holes into the basement bedrock with multiple datapoints gained from alteration and mineral geochemistry which is thenused to vector additional deeper holes. This is a proven explorationmethodology in the covered segments of the Macquarie Arc having beendirectly responsible for the discovery of the Northparkes and Cowaldeposits.
About Fleet Space Technologies: Fleet Space Technologies is Australia’sleading space exploration company revolutionising critical mineraldiscovery, space technologies and defence with its satellite-enabledsolutions and end-to-end mineral exploration solution powered by spaceand AI, Exosphere by Fleet®. Headquartered in the national centreof Australia’s space industry, Adelaide, Fleet Space has expandedits global footprint to the US, Canada, Chile and Luxembourg with over120 employees, representing 37 nationalities, worldwide. In 2023,Fleet Space was named “Australia’s Fastest Growing Company” bythe Australian Financial Review. For more information, please visitthe Company website at www.fleetspace.com .
About Inflection ResourcesLtd. Inflection is a technically drivencopper-gold focused mineral exploration company listed on the CanadianSecurities Exchange under the symbol “AUCU”, on the OTCQB underthe symbol “AUCUF” and on the Frankfurt Stock Exchange under thesymbol “5FJ”, with projects in New South Wales, Australia. Formore information, please visit the Company website at www.inflectionresources.com .
Inflection is part of the NewQuest Capital Group whichis an entrepreneurial, discovery-driven investment group that buildsvalue through the incubation and financing of early-stage mineralexploration projects globally. Further information about NewQuestcan be found at www.nqcapitalgroup.com
On behalf of the Board ofDirectors
Alistair Waddell
President and CEO
alistair@inflectionresources.com
For further information, pleasecontact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
Forward-LookingStatements: This newsrelease includes certain forward-looking statements andforward-looking information (collectively, "forward-lookingstatements") within the meaning of applicable Canadian securitieslegislation. All statements, other than statements of historical fact,included herein including, without limitation, statements regardingfuture capital expenditures, amount of drilling, receipt of themaximum amount of available grant funding, anticipated content,commencement and cost of exploration programs in respect of theCompany's projects and mineral properties, AngloGold’s anticipatedfunding of the Minimum Commitment and timing thereof, and theanticipated business plans and timing of future activities of theCompany, are forward-looking statements. Although the Company believesthat such statements are reasonable, it can give no assurance thatsuch 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 negativevariations thereof, and phrases that refer to certain actions, eventsor results that may, could, would, might or will occur or be taken orachieved. 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 on forward-lookingstatements. The Company undertakes no obligation to update any ofthe forward-looking statements, except as otherwise required bylaw.
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