Vancouver, British Columbia, June 13, 2022: Inflection Resources Ltd. (CSE: AUCU) (OTCQB: AUCUF) (FSE: 5VJ) (the “Company” or “Inflection”) is pleased to provide an update on the ongoing drilling in New South Wales. Inflection is systematically drill testing a series of 100% owned, copper-gold alkalic porphyry targets located in the northern interpreted extension of the Macquarie Arc.
- The Company has intersected strong porphyry-style alteration at the Duck Creek target;
- Hydrothermal alteration intercepted in drill hole DCKDH002 is interpreted as being indicative of porphyry-related potassic alteration overprinted by sericite-carbonate alteration;
- The Company interprets this alteration to be significant and provides strong encouragement for step-out follow-up drill holes; and,
- Step-out drilling from hole DCKDH002 will commence shortly.
Alistair Waddell, Inflection’s President and CEO, states: “We are very happy to have intercepted such intense and favourable porphyry style alteration with the first hole to touch basement on our 100% owned Duck Creek target. We are looking forward to stepping-out with the drill to further explore the extent of this distinct magnetic feature which has similar characteristics to other Macquarie Arc mineralised copper-gold districts.”
Duck Creek – EL 8965: The Duck Creek project is a large alkalic porphyry-related copper-gold style target. This 4.5 x 5.0-kilometre target area (Figure 1) covers favourable magnetic and gravity features identified by analysing pre-competitive airborne geophysical survey data which the Company considers to be part of the prospective Macquarie Arc volcanic sequence. The broad target area comprises a 10 x 15-kilometre gravity low embayment within the large regional magnetic high. The Company considers the geological setting highly analogous to the Northparkes mine located approximately 200 kilometres to the south. Specifically, the Company has identified high amplitude, complex, curvilinear magnetic patterns very similar to those typical of the intrusion-related signatures of the Macquarie Arc mineralized districts.
Two drill holes DCKDH002 and DCKDH003 were drilled to test an aeromagnetic low and high, which are interpreted to represent zones of magnetite depletion and enrichment, respectively.
Figure 1: Bouguer gravity and aeromagnetic (reduced-to-pole) maps of the Duck Creek principal target area of interest with limits of the Duck Creek Exploration License (red polygon) – High amplitude curvilinear magnetic patterns in the magnetics are interpreted to represent a multi-kilometre-scale intrusive complex.
Drill hole DCKDH002 was drilled to test an aeromagnetic low. The hole intercepted post-mineral Mesozoic sediments from surface to 365.60m, then a sequence of mixed volcaniclastics which exhibit what the Company interprets as moderate to strong outer potassic, porphyry style alteration manifest by the presence of biotite-magnetite-K-feldspar-actinolite-albite to the bottom of the hole at 466.20m.
The sequence of volcanics has been intruded by a strongly hematite altered feldspar porphyry from 407.50 to 408.28m and there is 1-3% disseminated pyrite throughout the volcanic sequence.
Ptygmatic quartz veins intersected at 389.40m (Figure 2) and 400.85m are interpreted to represent porphyry style “A veins” and thin centreline quartz-pyrite veins present at 389.4m, 391.25m and 396.6m, are interpreted to represent porphyry-style “B veins”.
The Company interprets drill hole DCKDH002 to be highly significant as the hydrothermal alteration is suggestive of an outer potassic, porphyry-proximal zone, which should assist with vectoring towards potential mineralisation. Drill core also contains zones of anhydrite veining which the Company specifically considers important as their presence suggests fluids may have been derived from an oxided intrusion at depth.
Figure 2: Drill hole DCKDH002 select core photos with interpreted geology. 378.10m – K-feldspar-actinolite altered volcaniclastic, 379.30m – biotite-magnetite-albite altered volcaniclastic, 389.40m – quartz-pyrite bearing B vein in K-feldspar-magnetite altered volcaniclastic, 391.25m – centreline quartz-pyrite B vein in biotite-albite-magnetite altered volcaniclastic, 412.60m – Sericite-carbonate alteration overprint on biotite-magnetite altered volcaniclastic cut by anhydrite veins, 428.45m – K-feldspar-magnetite-biotite breccia, 441.60m – biotite-magnetite with sericite-carbonate alteration overprint volcaniclastic, 451.40m –sericite alteration overprint on biotite-magnetite altered volcaniclastic.
Drill hole DCKDH003 was drilled 550 metres north of hole DCKDH002 to test an aeromagnetic high. The hole intercepted post-mineral Mesozoic sediments from surface to 353.85m, then a sequence of andesitic volcanics to 367.85m and feldspar porphyritic diorite to the bottom of the hole at 453.00m. The volcanic and intrusive rocks exhibit moderate to strong magnetite enrichment with moderate to strong chlorite-epidote-albite alteration, typical of a propylitic alteration zone. A 10cm wide quartz-chalcopyrite-pyrite bearing vein was intersected at 407.30m and interpreted to perhaps represent a distal porphyry-style “D type” vein.
Samples from holes DCKDH002 and 003 have been submitted to the laboratory for analysis with results expected in the coming weeks. Hole DCKDH001 encountered technical drilling issues in the sedimentary cover sequence after a pause in drilling due to wet weather and failed to reach the basement target.
Trangie – EL 8771: Trangie is a large alkalic porphyry-related copper-gold style target which the Company has tested with a series of shallow penetrating bedrock core holes. Drilling has returned widespread, favourable potassic-style alteration, manifest by biotite-magnetite which remains indicative of proximity to an intrusion-related system over several kilometres that the Company considers typical of an alkalic porphyry environment.
Drill hole TRNDH018 was completed located 230 metres south from hole TRNDH013. The hole intersected porphyritic diorite from 183.6m to 186.9m below the Mesozoic sedimentary cover, then andesite to 188.95m and porphyritic diorite to the bottom of the hole at 206.3m. These units exhibit variable epidote-chlorite alteration. Work by an external consultant suggests that the volcanic sequence in the project area may have been tilted, which suggests that possible causative porphyry body driving the alteration may be plunging to the southwest. The Company intends to complete additional drilling to test this concept.
Ongoing Exploration Drilling
The drill is currently testing an additional target at Duck Creek with a focus on a distinct magnetic low adjacent to high amplitude curvilinear magnetic patterns. Upon completion of the current hole, the Company intends to complete priority step-out drilling from hole DCKDH002 where favourable porphyry-style alteration has been intercepted.
Following the holes at Duck Creek, the rig is scheduled to move onto Fairholme, another priority alkalic porphyry target located approximately 40 kilometres to the northeast. Details of the Fairholme target can be found in Inflection News Release dated April 13, 2022.
Inflection has now completed 65 holes totalling 14,719 metres since the inception of the Northern New South Wales drill program. Drilling production has been a little slower than planned due to an extended period of wet weather which has generally impacted New South Wales and has impeded drill rig access onto several drill sites.
The scientific and technical information contained in this news release has been reviewed and approved by Mr. Carl Swensson (FAusIMM), a “Qualified Person” (“QP”) as defined in National Instrument 43- 101 – Standards of Disclosure for Mineral Projects.
Sampling Quality Control
Mud rotary drilling was utilised to drill through the post-mineral, sedimentary cover sequence. At the unconformity the drilling method changed to diamond drilling using NQ–sized core. All materials and core were transported to the Company’s Trangie field office at the end of each shift. The core was logged in detail, then cut in half to the Company’s specified sample intervals with half core samples placed in numbered calico bags with internationally certified blanks and standards inserted every 20th sample.
Samples are sent to ALS Laboratories in Orange NSW. ALS Laboratories are an accredited analytical laboratory meeting ISO/IEC 17025:2005 and ISO 9001:2015. Samples are prepared by crushing and grinding via ALS methods CRU-21 and PUL-32 respectively. The pulps are then assayed for 48 elements via ALS method ME-MS61 using a 25g sample after a four acid near total digest with an ICP-MS finish. Gold is assayed by fire assay using ALS method Au-AA23 using a 30g sample charge and AAS finish. Laboratory standards and QA-QC are monitored by the Company. Coarse rejects from the sample preparation are also subjected to short-wave infrared spectral analysis.
About Inflection Resources Ltd.
Inflection is a technically driven copper-gold and gold focused mineral exploration company listed on the Canadian Securities Exchange 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 the Macquarie Arc, part of the Lachlan Fold Belt in New South Wales. The Macquarie Arc is Australia’s premier porphyry gold-copper province being host to Newcrest Mining’s Cadia deposits, the CMOC Northparkes deposits and Evolution Mining’s Cowal deposits plus numerous exploration prospects including Boda, the recent discovery made by Alkane Resources.
For more information, please visit the Company’s website at www.inflectionresources.com.
On Behalf of the Board of Directors
President and CEO
For further information, please contact:
Investor Relations Manager
+1 (778) 867-5016
This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company’s projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such 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 negative variations thereof, and phrases 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 from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company’s exploration plans. the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading “Risk Factors” in the Company’s prospectus dated June 12, 2020 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.