Inflection Resources conducting gravity surveys, New South Wales, Australia

Inflection Resources Ltd. [CSE: AUCU; OTCQB: AUCUF; FSE: 5VJ] has initiated a large gravity survey across eight of its exploration licenses in northern New South Wales.

Summary Highlights: A 1,020 km² gravity survey has commenced covering eight Exploration Licenses in northern New South Wales, Australia. The survey coverage will include the Trangie project where recent drilling intersected the most significant gold-copper mineralization by the company to-date.

The survey will be conducted as part of Phase I of the Exploration Agreement with AngloGold Ashanti Australia Limited announced Jume 14, 2023.

Alistair Waddell, Inflection’s President and CEO, stated: “We’re excited to launch this extensive 1,020 km² gravity survey across a number of our New South Wales licenses, including the Trangie project where we recently intersected our most significant gold-copper intersections to-date. This survey, conducted as part of our exploration agreement with AngloGold Ashanti, represents another important step in advancing our understanding of these highly prospective areas. We very much look forward to seeing the results and integrating them with our other data to focus our drilling on Trangie and other targets which have been generated through the application of leading geoscience.”

A large ground gravity survey extending over 1,020 km² has commenced and will cover the majority of Inflection’s southern Exploration Licenses south of Duck Creek, inclusive of the Trangie and Myallmundi projects. The goal of the survey is to define areas of contrasting gravity signatures which may represent intrusions at depth and assist with the ongoing drill targeting particularly at Trangie where step-out drilling is expected to resume in early March. Several alkalic copper–gold deposits in New South Wales are underlain by gravity lows, which are interpreted to represent the underlying causative quartz monzonite stock.

Survey measurements will be collected on 1,000 x 1,000-metre spaced points with more detailed readings taken on 500 x 500m and 250 x 250m centers over the Trangie project. The survey is designed to join the previously completed surveys on the Duck Creek and Nyngan projects.

The Phase I work program is being completed under the AngloGold Ashanti Exploration Agreement where AngloGold Ashanti is funding AUD$10,000,000 on exploration expenditures across a wide range of different intrusive related exploration targets.

Inflection is operating Phase I and receiving a 10% management fee for doing so. Upon completion of Phase I, AngloGold Ashanti retains the right to designate up to five individual projects where it may potentially earn up to a 75% interest in each by completing various milestones.

The company, along with AngloGold Ashanti, have agreed to relinquish Exploration Licenses 9341, 9305, 9643 and 9360 which are located in the far north of the contiguous package of concessions held by the company. The specific areas have been downgraded by the company in terms of prospectivity due to the age of the rocks and thickness of the post-mineral sedimentary cover sequence. Relinquishing Exploration Licenses that are no longer considered prospective is a key aspect of the company’s exploration strategy and disciplined business plan.

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 post-mineral sedimentary cover before transitioning to diamond core drilling once the prospective basement is reached. 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.

Inflection is part of the NewQuest Capital Group which is an entrepreneurial, discovery-driven investment group that builds value through the incubation and financing of early-stage mineral exploration projects globally.