Inflection Resources completes ANT survey in NSW

Sep 16, 2024

2024-09-12 12:52 ET – News Release

Mr. Alistair Waddell reports

INFLECTION RESOURCES DEFINES NEW PRIORITY TARGETS BASED ON RESULTS OF REGIONAL ANT SURVEY IN NEW SOUTH WALES

Inflection Resources Ltd. has provided an update on its recently completed regional ambient noise tomography (ANT) survey in New South Wales, Australia, conducted under phase I of the exploration agreement with AngloGold Ashanti Australia Ltd. announced on June 14, 2023.

Summary highlights:

Fleet Space Technologies, in partnership with Inflection, completed a regional ANT survey with its end-to-end exploration solution, ExoSphere, covering 1,800 square kilometres (km) of Inflection exploration licences, all of which are included under the AngloGold Ashanti agreement.
Results from the ANT survey have been modelled to identify seismic features up to five km in depth. Previously unrecognized large-scale faults and zones of high seismic velocity were identified representing potentially large intrusions at depth.
Integration of the ANT data in combination with all other datasets including airborne magnetics and gravity has led to the identification of four new priority targets.
Priority targets are currently being assessed in conjunction with AngloGold Ashanti for potential higher-resolution, target-specific, ANT surveys with the goal of defining large-scale drill targets.
The company also announces it has raised $922,125 through the exercise of share purchase warrants. This capital will be used for new business opportunities and for general working capital.

Alistair Waddell, Inflection’s president and chief executive officer, states: “We are very pleased with the results of the regional ANT survey which is helping us rapidly to reduce the search space of our district-scale land package and vector toward potential new porphyry-style mineralization. We believe this cutting-edge ANT technology is an important new exploration tool as it provides a homogeneous, primary dataset that when combined with regional gravity and magnetic surveys is greatly assisting with the prioritization of different areas for drill testing. This survey has generated a number of new, previously unrecognized target areas for follow-up higher resolution ANT surveys and/or drill targeting.”

“Conducting the world’s largest real-time ANT copper survey with Inflection in the Macquarie Arc is a seminal moment in the history of exploration. ExoSphere’s hyper-scalable, real-time 3-D (three-dimensional) imaging is rapidly enhancing our understanding of the geology, opportunity zones and data-driven targeting potential in the Macquarie Arc and other copper systems worldwide,” added Flavia Tata Nardini, chief executive officer and co-founder of Fleet Space Technologies. “We’re proud to contribute to Inflection’s pioneering exploration program as part of phase I of the exploration agreement with AngloGold Ashanti and unlock new insights that could define the course of exploration in the region and beyond.”

Regional ambient noise tomography survey

Inflection, together with Fleet Space completed an approximate 1,800-square-kilometre 2 ANT survey using the company’s end-to-end mineral exploration solution, ExoSphere, across Inflection’s 100-per-cent-owned projects in New South Wales. The aim of the survey was to collect large, homogeneous, multimodal, 3-D subsurface primary data to identify belt-scale architecture, including large intrusive centres and potential cross-arc structures. Cross-arc structures are widely considered important in the Macquarie Arc and in other volcanic arcs elsewhere as they are known to vector fluid flow and often influence the emplacement of large-scale intrusive bodies and mineral systems.

The outputs of the survey have been applied to Inflection’s evolving interpretation of the covered, northern extension of the Macquarie Arc to prioritize the existing targets and generate new ones. 3-D seismic velocity and 2-D (two-dimensional) depth slices from the survey suggest the presence of larger batholiths at depth, manifesting as velocity highs and major crustal faults manifesting as velocity lows. Large intermediate to felsic batholiths or causative intrusive complexes are important in other copper-gold porphyry systems in NSW such as at Newmont’s Cadia mine complex and Evolution Mining’s Northparkes mine complex.

The ANT data has been analyzed in conjunction with regional aeromagnetic, gravity and Inflection drill data, which defined the following high-priority targets, detailed below. Follow-up work on these targets is currently being planned in conjunction with AngloGold Ashanti which may involve higher resolution, target specific ANT surveys or direct drill testing.

Duck Creek phase II designated project

Target 102:

Strong, high seismic velocity zone — approximately six times six kilometres;
Located approximately 23 km south of the northern Duck Creek zone;
Zone of coincidental high aeromagnetic response;
Zone of low Bouguer gravity response, consistent with an intermediate to felsic large intrusion at depth.

Duck Creek phase II designated project

Target 104:

Moderate seismic velocity zone — approximately three times three kilometres;
Spot aeromagnetic high;
Northwest oriented structural corridor defined in modelled aeromagnetic data.

Phase I regional recon program

Target 103 (Canonba):

Strong high seismic velocity zone — approximately four times four kilometres;
Zones of aeromagnetic high;
Tourmaline-biotite-magnetite hydrothermal alteration identified in volcaniclastic host rocks and monzonites in nearby Canonba drill holes CANDH003 and CANDH004;
Zone of Bouguer gravity low.

Phase I regional recon program

Target 105 (Myallmundi):

Large zone of high velocity — approximately eight times 40 kilometres with a zone of discrete (five times four km) lower seismic velocity consistent with zones of hydrothermal alteration;
Monzodiorite to quartz-monzonite intrusions present in Inflection drill holes indicative of multiphase intrusive activity;
Intense sericite-biotite-magnetite alteration present in Inflection drill holes suggestive of a porphyry proximal environment.

Warrants and additional capital

The company has raised gross proceeds of $922,125 through the exercise of 6,147,500 share purchase warrants priced at 15 cents per common share. The funds will be used for new business opportunities and for general working capital.

Carron project — Queensland

Inflection completed a total of eight drill holes on the project, testing eight separate targets spread over approximately 23 km interpreted to represent Croydon-style vein-hosted gold mineralization. Despite intercepting numerous zones of quartz veining under a blanket of sedimentary cover as modelled, the company has elected to cease further work on the project based on a lack of any significant gold or multielement geochemistry.

Qualified person and sampling quality control

The scientific and technical information contained in this news release has been reviewed and approved by Carl Swensson (FAusIMM), a qualified person (QP) as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Inflection’s NSW projects

The company is systematically exploring for large copper-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 copper-gold province host to Newmont’s Cadia deposits, Evolution Mining’s Cowal and Northparkes deposits plus numerous exploration prospects including Boda, the discovery made by Alkane Resources.

The company uses cost-effective mud-rotary drilling to cut through unmineralized postmineral sedimentary cover before transitioning to diamond core drilling once the prospective basement is reached. It is well documented that mineralized bodies elsewhere in the belt, in particular porphyry and intrusive related systems have large district-scale alteration and geochemical halos or footprints surrounding them. The company typically completes a series of short diamond drill holes into the basement bedrock with multiple data points gained from alteration and mineral geochemistry which is then used to vector additional deeper holes. This is a proven exploration methodology in the covered segments of the Macquarie Arc having been directly responsible for the discovery of the Northparkes and Cowal deposits.

About Inflection Resources Ltd.

Inflection is a technically driven copper-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.

We seek Safe Harbor.

https://inflectionresources.com/