(TheNewswire)
Vancouver, British Columbia – TheNewswire - April 8, 2024 : Inflection Resources Ltd. (CSE: AUCU / OTCQB:AUCUF / FSE: 5VJ) (the "Company" or"Inflection") is pleased to providethe results of the various geophysical surveys completed on the DuckCreek project in New South Wales, Australia. All surveys wereconducted as part of a multi-year Exploration Agreement with AngloGoldAshanti Australia Limited (“AngloGold”) announced on June 14,2023.
Summary Highlights:
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Results from three separate geophysical surveyscompleted on the northern Duck Creek exploration license have beenreceived and interpreted. The surveys include Ambient NoiseTomography (ANT), a ground gravity study and an InducedPolarisation/Magnetotellurics (IP/MT) survey;
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The ANT survey completed by Fleet Space Technologieswas considered successful and clearly highlights several previouslyunknown features of interest in the prospective basement sequence. The different features of interest are interpreted to representpotential intrusive bodies, zones of hydrothermal alteration andkilometre-scale structures;
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A ground gravity survey has provided much needed higherresolution data to guide the positioning of additional drill holes. Several distinct gravity features have been identified which willrequire drill testing with the gravity lows interpreted to representpossible deep-seated intrusions at depth; and,
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The next phase of Duck Creek drill holes have beendefined by combining data from the ANT, magnetic and gravity surveyswith drill hole sample geochemistry and alteration identified inInflection drill core.
Alistair Waddell, Inflection’s President and CEO,states: "We areextremely pleased with the results of the geophysical surveysconducted at Duck Creek. The interpretation of the survey data hasidentified several new priority targets to be drill-tested as part ofthe ongoing exploration programs in New South Wales. The ANT andgravity data have proven particularly valuable in enhancing theCompany's understanding of the prospective basement sequence beneaththe blanket of post-mineral sedimentary cover. We very much look forward to completing the next phase of drill holeswhere we will test some of these large-scale, previously unknowntargets, many of which are located in close proximity to areas wherehighly favorable porphyry-style alteration was previously interceptedin earlier Inflection drilling."
Duck Creek GeophysicalSurveys:
Three separate geophysical surveys were completed onthe northern Duck Creek exploration license including Ambient NoiseTomography, an Induced Polarisation/Magnetotellurics (IP/MT) surveyand a ground gravity study (Figure 1). The principal objective ofthese surveys was to enable the more accurate positioning of furtherdrill holes, which when combined with geochemical data and alterationmapping collected from earlier Inflection drilling, would likelyprovide vectors toward alkalic porphyry-related copper-goldmineralisation at depth.
Drilling is currently focused on testing new regionaltargets in the north of Inflection’s portfolio as referenced inInflection News Release dated December 20, 2023. With the completionof the geophysical surveys, we anticipate further drilling at DuckCreek. The Company anticipates an extensive follow-up drill program to commence at Duck Creekfollowing the ongoing scheduled, first-pass drilling underway on thevarious northern New South Wales targets.
Figure 1: Map of the Duck CreekExploration License (EL-8965) with regional magnetics (TMI-RTP)showing locations of the detailed gravity and ANT surveys.
Ambient Noise Tomography (ANT)Survey - The Companyengaged Fleet Space Technologies ( www.fleetspace.com ) to complete an ANTsurvey using the Exosphere platform. ANT is apassive seismic exploration technique that measures pervasive seismicnoise derived from natural and anthropogenic sources to visualise thethree-dimensional subsurface using changes in seismic velocity.
ANT surveys completed elsewhere (Benson et. al, 2007and Chen et. al., 2021) have demonstrated that magmatic intrusions,hydrothermal alteration and faults can manifest as zones of high andlow seismic velocity. ANT offers the advantages of quickly coveringlarge areas and can visualise below cover sequences of more than 2,000metres. The survey appears to map the thickness of the post-mineralcover and structures within the prospective basement sequence.
Six high priority targets have been identified fromthis survey which include zones of high seismic velocity, suggestiveof intrusions at depths and zones of low seismic velocity suggestiveof hydrothermal alteration in the basement sequence. These targetsare also associated with large, previouslyunrecognised, regional-scale structures which may have influenced theemplacement of intrusions in the basement sequence (Figures 2 and3).
The Inflection survey covered an area of approximately30 km 2 across the northern Duck Creek Project area (Figures 1 - 3)in zones where previous drilling returned favourable alteration andgeochemistry indicative of an alkalic porphyry environment. The aimof the survey was to map the paleosurface and basement rocks toidentify areas of potential alteration or intrusions in the basementsequence for further drill testing. The survey has produced an imageof the paleotopographic surface allowing for detailed 3D constrainedmodelling of magnetic and gravity data.
Several previously unknown large-scale features ofinterest (Figures 2 and 3) have been identified by the surveyinterpreted to represent possible intrusions andalteration.
Figure 2: Duck Creek ANT survey 3Dmodel viewing north clipped at -500 metre RL. Also shown is a 2300millisecond isosurface extending to the unconformity between thebasement sequence and the post-mineral sediments. The Companyinterprets the zones of higher seismic velocity to represent possibleintrusions.
Figure 3: Duck Creek ANT surveyplan view at -400 metre RL, or 570m below surface, showing zones oflow (blue colours) and high (yellow to red colours) seismic velocityinterpreted as new targets for hydrothermal alteration and intrusionsrespectively. Existing Inflection drill holes and interpreted majorstructures are also shown.
Gravity Survey - The Company commissioned Daishsat Geodetic Surveyors to complete aground-based gravity survey to enable almost full coverage of thebroader Duck Creek exploration license. The survey included 1,190stations collected on a 500-metre grid over an area depicted in thesparsely collected publicly available data as a broad zone of lowgravity. The Northparkes copper-gold mine, situated approximately180 kilometres southeast of Duck Creek, is associated with a largegravity low indicative of a batholith and smaller porphyry intrusionsat depth. The publicly available data define a broad gravity low ofsimilar character to the Northparkes feature and the recent moredetailed survey was designed to refine the features to assisttargeting within the greater Duck Creek exploration license.
The Company considers the survey data to be excellentquality and has highlighted several previously unknown areas of deepgravity lows, one of which coincides with areas of known porphyrystyle alteration intercepted in Inflection drilling as well asadditional new anomalies that have yet to be drill tested.
The Company considers this relatively cost-effectivesurvey to be very useful and going forward will be used elsewherewithin the Macquarie Arc portfolio including on the Myallmundi projectto provide much greater detail than the publicly available regionalgravity data. The Company believes the higher resolution gravitydata, together with the ANT data, can be used to directly positionadditional drill holes with the goal of vectoring towardsporphyry-related copper-gold mineralisation at depth.
Induced Polarisation/Magnetotellurics(IP/MT) - The Company commissioned FenderGeophysics to complete a focused ~35-line kilometre IP/MT survey overselected aeromagnetic targets in the northern Duck Creek explorationlicense area. Six lines were completed over six discrete targets. The Company interprets that the survey failed to penetrate thebasement sequence presumably due to the conductive nature andthickness of the post-mineral sedimentary cover sequence.
AngloGold Exploration AgreementTerms:
All the work programs noted above form part of theAngloGold Ashanti Exploration Alliance where AngloGold is sole funding up to AUD$10,000,000 on explorationexpenditures across a wide range of different intrusive relatedexploration targets. Inflection is operating Phase I and isreceiving a 10% management fee for doing so. Upon completion ofPhase I, AngloGold retains the right to designate up to fiveindividual projects where it may potentially earn up to a 75% interestin each by completing various milestones. See Inflection newsrelease dated June 14, 2023 for further details. https://inflectionresources.com/inflection-resources-and-anglogold-ashanti-sign-definitive-exploration-agreement-across-portfolio-of-copper-gold-projects-in-australia/
About Inflection’s NSWProjects:
The Company is systematically exploring for large copper-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 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 uses cost-effective mud-rotary drilling tocut through unmineralised post-mineral sedimentary cover beforetransitioning to diamond core drilling once the prospective basementis reached. It is well documented that mineralised 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. Thisis a proven exploration methodology in the covered segments of theMacquarie Arc having been directly responsible for the discovery ofthe Northparkes and Cowal deposits.
Qualified Person and Sampling QualityControl:
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.
References:
Bensen, GD; Ritzwoller, MH; Barmin, MP; Levshin, AL;Lin, F; Moschetti, MP; Shapiro, NM; and Yang, Y; 2007. Processingseismic ambient noise data to obtain reliable broad-band surface wavedispersion measurements. Geophysical Journal International 169(3),1239-1260. https://doi.org/10.1111/j.1365-246X.2007.03374.x
Chen, G; Cheng, Q; Luo, Y; Yang, Y; Xu, H; Deng, X;2021. Seismic imaging of the Caosiyao giant porphyry molybdenumdeposit using ambient noise tomography. GEOPHYSICS, VOL. 86, NO. 6(November-December 2021); P. B401–B412. https://doi.org/10.1190/geo2021-0117.1
About Inflection ResourcesLtd. Inflection is a technically drivencopper-gold focused mineral exploration company listed on the CanadianSecurities Exchange under the symbol “AUCU” and on the OTCQB underthe symbol “AUCUF” with projects in Australia. For more information, please visit the Company website at www.inflectionresources.com .
Inflection is part of the NewQuestCapital Group which is an entrepreneurial, discovery-driven investmentgroup that builds value through the incubation and financing ofearly-stage mineral exploration projects globally. Furtherinformation about NewQuest can 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-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,amount of drilling, receipt of the maximum amount of available grantfunding, anticipated content, commencement and cost of explorationprograms in respect of the Company's projects and mineral properties,AngloGold’s anticipated funding of the Minimum Commitment and timingthereof, and the anticipated business plans and timing of futureactivities of the Company, are forward-looking statements. Althoughthe Company believes that such statements are reasonable, it can giveno assurance that such expectations will prove to be correct. Often,but not always, forward looking information can be identified by wordssuch 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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