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Vancouver, British Columbia, February 14, 2022: Inflection Resources Ltd. (CSE: AUCU) (FSE: 5VJ) (OTCQB: AUCUF) (the “Company” or “Inflection”) is pleased to provide an update on its ongoing exploration activities in New South Wales, Australia.
- Inflection completed nine additional holes into the Trangie, Nine Mile, Fairholme and Myallmundi targets. The Company has now completed 61 holes totalling 13,143 metres since the inception of the Northern New South Wales drill program;
- Four holes drilled into the Trangie target intersected high-temperature, potassic alteration typified by biotite-magnetite implying proximity to an intrusive heat source and providing a greater understanding of the target;
- Updated green rock and sulphur isotope studies over the Trangie target have highlighted a specific area broadly southwest of the current drill holes for priority follow-up drilling in proximity to holes that returned the most favourable alteration and geochemistry indicative of a porphyry environment; and,
- The Company has commenced a MIMDAS geophysical survey (chargeability, resistivity and conductivity) over the area highlighted above on the Trangie target. The survey lines are being completed to aid with the vectoring of additional and potentially deeper drill holes. MIMDAS geophysical surveying offers greater depth penetration than conventional Induced Polarisation (IP) geophysics and has been used to successfully vector towards porphyry-related copper-gold mineralisation elsewhere in the Macquarie Arc.
Alistair Waddell, Inflection’s President and CEO, states: “Inflection continues to systematically explore its 100% owned portfolio of projects in New South Wales with many large copper-gold alkalic porphyry targets remaining to be tested. We are particularly excited about the recent developments at Trangie, which through the systematic collection of data and the application of leading geoscience has highlighted a specific area for priority follow-up”.
The Company is continuing to explore its large portfolio of 100% owned projects for large alkalic copper-gold and gold deposits in the northern extension of the Macquarie Arc, Australia’s premier porphyry copper-gold province. Nine additional holes have been completed into the Trangie, Nine Mile, Fairholme and Myallmundi targets.
Inflection has now completed 61 holes totalling 13,143 metres since the inception of the Northern New South Wales drill program. Drilling has been paused over the last several weeks to reduce production delays relating to a challenging period of extended wet weather which has generally impacted eastern Australia and has impeded drill rig access onto several priority drill sites.
Four of the recent holes (TRNDH014, 015, 016, 017) drilled into the Trangie target area intersected anomalous geochemistry and potassic-style alteration, manifest by biotite-magnetite, which remains indicative of proximity to an intrusion-related system. The other holes drilled into Myallmundi, Nine Mile, and Fairholme prospects did not intersect significant alteration or geochemistry indicative of an environment proximal to a mineralized system and therefore these specific targets have been downgraded. The principal, priority target at Fairholme covers a large area north of the recent drill hole and has yet to be drill tested. This area remains a high priority and it’s anticipated will be drilled when wet ground conditions improve, enabling drill access.
Trangie is a large alkalic porphyry-related copper-gold style target which the Company has tested with a series of cost-effective, shallow penetrating bedrock core holes. Drilling has returned widespread, favourable alteration over several kilometres that the Company considers typical of an alkalic porphyry environment. Recent ongoing work by Inflection, to assist in vectoring additional drilling, includes an ongoing MIMDAS geophysical survey and green rock and sulphur isotope geochemistry studies.
MIMDAS Geophysical survey
The Company has commenced a MIMDAS geophysical survey (chargeability, resistivity and conductivity) over the southwest side of the Trangie target which has returned widespread favourable alteration and geochemistry indicative of a copper-gold alkalic porphyry environment. The survey lines are being completed to aid with the vectoring of additional drill holes. MIMDAS is an advanced electrical geophysical technique which offers greater depth penetration than conventional geophysics and collects multiple geophysical datasets (Chargeability (IP) and Resistivity/Conductivity (IP and MT)). MIMDAS is an excellent method for detecting porphyry alteration zones such as chargeable pyritic zones or resistive albite-rich halos elsewhere in New South Wales.
Green Rock and Sulphur Isotope Geochemistry
Sulphur isotope sampling is being used by the Company to map out the temperature and oxidation state of magmatic hydrothermal fluids to assist in vectoring for the scout drilling strategy currently employed at Trangie.
Analysis of drill core taken from the Trangie target area suggests the presence of multiple hydrothermal alteration cells at the district scale. Alteration intersected at Trangie is confirmed as a strong hydrothermal signature with a distinct porphyry affinity and trace element enrichment similar to that observed around the mineralised Cadia and Northparkes districts.
Results from an additional batch of green rock samples submitted for analysis to CODES, the University of Tasmania as part of an ongoing green rock mineral chemistry study have been received. Green rock studies are being employed focusing on the major, minor and trace element chemistry of chlorite and epidote as a tool to vector mineral exploration in the propylitic environment of porphyry ore deposits. These studies focus on the chemical variations within and between hydrothermal epidote and chlorite from the green rock environment of porphyry systems.
The green rock environment is defined as the extensive and zoned propylitic (chlorite and epidote) alteration halo surrounding a potentially mineralised potassic core that is centered on a porphyritic intrusive complex. This alteration zonation reflects the decreasing fluid temperature outward from a central heat source, providing a distinctive and observable vector towards potential copper-gold mineralization.
At Trangie, the sulphur isotope values have been plotted together with the green rock (chlorite and epidote) mineral chemistry and, despite the sample array between datasets differing slightly, both broadly corroborate each other’s results highlighting a specific area to the southwest of the current drilling shown on Figure 1. This area is currently being covered with the ongoing MIMDAS geophysical survey.
Figure 1: Northern NSW Project – Trangie target with green rock plots showing the recently defined area of priority interest for follow-up drilling.
The Company also wishes to announce Mr. Douglas Menzies, BSc, MAIG, RPGeo, has been promoted to the role of Vice President – Exploration, replacing Mr. Carl Swensson who has retired from full-time employment. Doug, who was previously Inflection’s Exploration Manager in New South Wales, now assumes responsibility for all exploration initiatives for the Company. Doug has over 28 years of industry experience exploring for porphyry gold‐copper and epithermal gold mineralisation in Australia, PNG, Indonesia, Fiji, Laos, Chile, Argentina and Mexico. Doug is a Member and on the Board of the Australian Institute of Geoscientists (AIG).
Carl Swensson will remain a consultant to the Company and as Qualified Person for reporting purposes. Alistair Waddell, Inflection’s President and CEO, states: “We welcome Doug into the expanded role and thank Carl for his service as one of the founders of the Company taking Inflection from a bold exploration concept through to systematically testing multiple, large Cu-Au targets, using innovative geoscience”.
Northern NSW Exploration Plans Going Forward
Going forward, the Company has priority targets that remain to be tested and others that require follow-up drilling as highlighted on Figure 2. Results from scheduled work programs including the MIMDAS geophysical program are pending and ongoing drilling will be scheduled subject to completion and interpretation of these programs.
Figure 2: Northern NSW Project –Drill target location and status map.
Sampling Quality Control
Mud rotary drilling was utilised to drill through the cover sequence. At the unconformity the drilling method was 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 were sent to ALS Laboratories in Orange NSW. ALS Laboratories are an accredited analytical laboratory meeting ISO/IEC 17025:2005 and ISO 9001:2015. Samples were prepared by crushing and grinding via ALS methods CRU-21 and PUL-32 respectively. The pulps were 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 was 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 subjected to short-wave infrared spectral analysis.
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.
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
Forward-Looking Statements: 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.