(TheNewswire)
Vancouver, British Columbia, July 10,2024 - TheNewswire : Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF /FSE: 5VJ) (the "Company" or "Inflection") ispleased to announce it has completed the previously announced(Inflection News Release - June 12, 2024) large-scale geophysicalsurvey in New South Wales, Australia conducted under an explorationagreement (the “Exploration Agreement”) with AngloGold AshantiAustralia Limited (“AngloGold”) and in partnership with FleetSpace Technologies (“Fleet Space”).
Summary Highlights:
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Inflection and FleetSpace have completed the ~1,800 km² Ambient Noise Tomography(“ANT”) survey across the Inflection portfolio of projects in NewSouth Wales, all of which are included as part of the ExplorationAgreement with AngloGold.
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The survey was designedto collect large- scale , 3Dsubsurface data to identify belt-scale architecture of the prospect basement rocks including potential cross-arcstructures which are known to vector fluid flow and often influencethe emplacement of large-scale intrusive bodies and mineralsystems.
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The outputs of thesurvey are currently being interpreted and results are expected in thecoming weeks. The results will be incorporated into Inflection’sevolving interpretation of the Macquarie Arc with the goal ofprioritising the existing drill targets and potentially generating newones.
Alistair Waddell, Inflection’s President and CEO,states: “We are veryexcited to have completed this first-of-its-kind survey, which was alarge logistical exercise laying out and later recovering ANT smart seismic sensors over 1,800 km². We look forward tointerpreting the results and incorporating the data into ourgeological model. It’s our goal that ANT results will enhance ourevolving understanding of the covered northern portion of theMacquarie Arc and ultimately assist in the discovery of new mineraldeposits in the region”.
Ambient Noise Tomography (“ANT”)survey:
Inflection and Fleet Space have now completed the 1,800km² ANT survey across Inflection’s 100% owned projects in New SouthWales. The aim of the survey was to collect large, homogeneous,multimodal, 3D subsurface primary data to identify belt-scalearchitecture including large intrusive bodies and potential cross-arcstructures. Cross-arc structures are widely considered important inthe Macquarie Arc and in volcanic arcs elsewhere as they are known tovector fluid flow and often influence the emplacement of large-scaleintrusive bodies and mineral systems.
The outputs of the survey are currently beinginterpreted and applied to Inflection’s evolving interpretation ofthe covered, northern extension of the Macquarie Arc with the goal ofprioritising the existing targets and potentially generating newones.
Inflection and Fleet Space Technologies are pioneeringthe use of space technology to accelerate the discovery of large-scalecopper-gold deposits in Australia's Macquarie Arc. Fleet Space’sreal-time data acquisition capabilities are enabled by its proprietarysatellite constellation, smart seismic sensors (Geodes) and 3D dataprocessing to enhance the speed and precision of onsite decisionmaking. ANT survey data has shown to be highly effective when compared to other geophysical methods dueto its inherent scalability which allows for the generation ofhigh-quality 3D data sets at any scale with equaleffectiveness.
AngloGold Exploration AgreementTerms:
The Anglo agreement is a multi phaseagreement where Anglo is sole funding up to AUD$10,000,000 onexploration expenditures across a wide range of differentintrusion-related exploration targets in Phase I.
Phase II of the Agreement provides AngloGold the rightto designate up to five individual projects where it may potentiallyearn up to a 75% interest in each by completing various milestones.AngloGold designated the Duck Creek Exploration License as a Phase IIProject in May 2024. See Inflection news releases dated June 14, 2023 and May 2,2024 for further details.
Stock Options: The Company has granted 200,000 incentive stock options (the“Options”) to a consultant of the Company. Each Option isexercisable to purchase one common share of the Company at a price of$0.20 for a three-year term. The Options are subject to theacceptance of the Canadian Securities Exchange.
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 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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