(TheNewswire)
Vancouver, British Columbia, - TheNewswire - November 1, 2022: Inflection Resources Ltd. (CSE:AUCU) (OTC:AUCUF) (FSE:5VJ) (the"Company" or “Inflection”) is pleased to provide anupdate on the ongoing exploration program in New South Wales. Inflection is systematically drill testing a series of 100% owned,copper-gold alkalic porphyry targets located in the covered, northern extension of the Macquarie Arc. Themost recent drilling has been focused on the Duck Creek target wherestrong porphyry-style alteration has been intercepted.
Summary Highlights
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The Company has completed three additional drill holeson the Duck Creek target where the Company previously reportedfavourable porphyry-style alteration from the first twoholes;
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Drill holes DCKDH005 and DCKDH006 interceptedporphyry-style alteration similar to that found in the previouslyreported hole DCKDH002 extending the zone of favourable alterationover an approximate 400 by 250 metre area;
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Based on detailed modeling of geochemistry andmineralogy the Company will now target mineralisation at Duck Creekwith a campaign of deeper diamond core drilling. The first prioritytarget area is around the recent cluster of shallow drill holesDCKDH002, 005 and 006 that display strong alteration the Companyinterprets to be indicative of the upper parts of an alkaliccopper-gold porphyry system. The principal target area of interestis associated with an 800 by 1,300 metre aeromagnetic low featureinterpreted to represent magnetite destruction associated withhydrothermal alteration; and,
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An extended period of extremely wet weather, creatingflood conditions, continues to impact most of eastern Australia andhas limited access to the New South Wales project area including theDuck Creek drill platforms. Drilling is currently on-hold but willimmediately recommence once the period of wet weather over the areacomes to an end and the unpaved access roads dry out.
Alistair Waddell, Inflection’s President and CEO,states: “We are veryencouraged with the additional drill results at Duck Creek, whichexpand the alteration footprint and our understanding of thegeological environment. Based on these results the Companyinterprets that recent drilling has intersected the upper parts of analkalic porphyry system. We are excited to continue the drilling atDuck Creek and initiate the first deep diamond drill holes in thevicinity of holes DCKDH002, 005 and 006 to test for a potentialmineralized centre of this large, complex hydrothermalsystem.”
The Duck Creek project is a largealkalic porphyry-related copper-gold style target. The principal 4.5x 5.0 kilometre target area covers favourable magnetic and gravityfeatures which the Company interprets to be part of the prospectiveMacquarie Arc volcanic sequence. The broader target area comprises alarge 10 x 15 kilometre gravity low embayment within the largeregional magnetic high. The Company considers the geological settinghighly analogous to CMOC’s Northparkes mine located approximately200 kilometres to the south. Specifically, the Company is drilltesting high-amplitude, complex, curvilinear magnetic patterns verysimilar to those typical of the intrusion-related signatures of theMacquarie Arc mineralized districts. Furthermore, drilling to-datehas intersected strongly hydrothermally altered rocks distinctlycharacteristic to those adjacent to mineralized alkalic copper–goldsystems such as Newcrest’s Cadia mine and the Northparkes minecomplex.
The Company has completed an additional three drillholes, DCKDH004, 005 and 006, testing a variety of different targetsin the vicinity of the previously reported holes DCKDH002 and 003 which returned strong porphyry-stylehydrothermal alteration (see Inflection news release dated June 13,2022).
Drill hole DCKDH005 was a 405 metre deep -80º inclinedhole drilled 225 metres to the southwest of hole DCKDH002 andintersected porphyritic andesitic volcanics with high-K calc-alkalineto shoshonitic affinities. These units exhibitfeldspar-sericite-tourmaline-actinolite-pyrite alteration consideredgeologically analogous to that often seen in the upper parts ofalkalic porphyry systems including NewcrestMining’s Cadia East deposit. Centimetrescale blebs of bornite were intercepted at approximately 395 metresinterpreted to be scavenged from earlier forming bornite veins andremobilised by later intrusive phases (Figure 1).
Figure 1: Hole DCKDH005 - ~395metres – Drill core with blebs of bornite rimmed by epidote andcarbonate hosted in feldspar-sericite-tourmaline-actinolite-pyritealtered volcanics.
Drill hole DCKDH006 is a -80º inclined hole drilled380 metres west of hole DCKDH002 to a depth of 420 metres. The holeintersected polymictic volcaniclastics with patchy K-feldspar,quartz-epidote-chlorite-carbonate-pyrite-tourmaline alteration withdisseminated actinolite. Assay results are anomalous for copper withvalues up to 771 ppm in holes DCKDH005 and 006 and are within therange of values expected in the upper parts of alkalic copper-goldporphyry systems located elsewhere in the Macquarie Arc.
Drill hole DCKDH004 is a -80º inclined hole drilledinto a separate target located approximately four kilometres to thesoutheast of hole DCKDH002. Drilling tested a large magnetic lowinterpreted to represent zones of magnetite depletion. The holeintersected andesitic volcaniclastics with moderateepidote-chlorite-minor hematite alteration. Weak alteration andgeochemistry imply this specific target area has low potential and nofurther work is planned.
Figure 2: TMI RTP (TotalMagnetic Intensity – Reduced to Pole with a first vertical derivatefilter) magnetic map showing collar locations of drill holes completedat Duck Creek.
Next phase of drilling
Once the exceptional period of wet weather that iscurrently impacting New South Wales comes to an end, the Company plansto mobilise a drill to the Duck Creek project as soon as practicallypossible to recommence drilling.
The first deep diamond drill hole is planned to testfor porphyry related copper-gold mineralisation at depth below thebiotite-tourmaline-K-feldspar alteration intercepted in holesDCKDH002, 005 and 006. The first hole will be drilled towards thecentre of a broad magnetic low and designed to laterally crosscut asmuch alteration as possible. The Company interprets drill holeDCKDH002 to be particularly significant as the hydrothermal alteration is consistent with that developed proximal toporphyry deposits in the Macquarie Arc . Thehole also contains zones of anhydrite veining which the Companyspecifically considers important as its presence suggests fluids mayhave been derived from an oxided intrusion at depth.
A number of additional drill holes are planned in andaround the broader Duck Creek district. Based on drill results andthe geophysical characteristics of the broader Duck Creek area, theCompany believes the potential exists for the area to host multiplecopper–gold mineralized centres. Additional drilling will test avariety of different magnetic targets the Company considersprospective for alkalic porphyry-style mineralisation.
Inflection has now completed 67 holes totalling 15,540metres since the inception of the Northern New South Wales drillprogram across 19 of the 30 principal targetareas identified by the Company. High-priority areas at Myallmundi,Trangie, Macquarie and Duck Creek have been identified based onmineralogy and alteration characteristic of other Macquarie Arc hostedAlkalic copper-gold porphyry systems.
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.
Sampling Quality Control
Mud rotary drilling was utilised to drill through thepost-mineral, sedimentary cover sequence. At the unconformity, thedrilling method changed to diamond drilling using NQ–sized core. All materials were transported to the Company’s Trangie fieldoffice where the core is logged in detail, then cut in half to theCompany’s specified sample intervals with half core samples placedin numbered calico bags with internationally certified blanks andstandards inserted every 20 th sample.
Samples are sent to ALS Laboratories in Orange NSW. ALS Laboratories are an accredited analytical laboratory meetingISO/IEC 17025:2005 and ISO 9001:2015. Samples are prepared bycrushing and grinding via ALS methods CRU-21 and PUL-32 respectively. The pulps are then assayed for 48 elements via ALS method ME-MS61using a 25g sample after a four acid near total digest with an ICP-MSfinish. Gold is assayed by fire assay using ALS method Au-AA23 usinga 30g sample charge and AAS finish. Laboratory standards and QA-QCare monitored by the Company. Coarse rejects from the samplepreparation are subjected to short-wave infrared spectral analysis.
About Inflection ResourcesLtd.
Inflection is a technically driven copper-gold and goldfocused mineral exploration company listed on the Canadian SecuritiesExchange under the symbol “AUCU” and on the OTCQB under the symbol“AUCUF” with projects in Australia.
The Company is exploring for large copper-gold and gold deposits in the northern interpreted extension of theMacquarie Arc, part of the Lachlan Fold Belt in New SouthWales . The Macquarie Arcis Australia’s premier porphyry gold-copper province being host toNewcrest Mining’s Cadia deposits, the CMOC Northparkes deposits andEvolution Mining’s Cowal deposits plusnumerous exploration prospects including Boda, the discovery made byAlkane Resources.
For more information, please visit the Company’swebsite at www.inflectionresources.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-Looking Statements:
This news release includes certain forward-lookingstatements and forward-looking information (collectively,"forward-looking statements") within the meaning ofapplicable Canadian securities legislation. All statements, other thanstatements of historical fact, included herein including, withoutlimitation, statements regarding future capital expenditures,anticipated content, commencement, and cost of exploration programs inrespect of the Company's projects and mineral properties, 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 onforward-looking statements. The Company undertakes no obligation toupdate any of the forward-looking statements, except as otherwiserequired by law.
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