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Inflection Resources and AngloGold Ashanti Initiate 35,000 Metre Drill Program Across Portfolio of Copper-Gold Projects
Vancouver, British Columbia – TheNewswire - July 24, 2023: Inflection Resources Ltd. (CSE:AUCU) (OTC:AUCUF) (FSE:5VJ) (the "Company" or "Inflection") is pleased
About this update from Inflection Resources Ltd.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - July 24, 2023: Inflection Resources Ltd. (CSE:AUCU) (OTC:AUCUF) (FSE:5VJ) (the \"Company\" or \"Inflection\") is pleased to announce that following the signing of the Definitive Agreement with AngloGold Ashanti Australia Limited (“AngloGold”) announced on June 14, 2023, the Company has commenced a large-scale drill program comprising of approximately 35,000 metres across the Company’s 100% owned portfolio of copper-gold projects in New South Wales, Australia. Summary Highlights: Drilling has commenced and will test a wide variety of intrusion related targets across the portfolio. Drilling will initially focus on the Duck Creek, Myallmundi and Trangie targets where earlier drilling by the Company returned favourable results; AngloGold will fund up to AUD$10,000,000 of exploration expenditures across the portfolio of projects in New South Wales as part of a Phase I exploration drill program; The two-rig drill program is estimated to comprise of approximately 100 drill holes totalling 35,000 metres. Drilling will be completed using combination mud-rotary/diamond core rigs; and, Inflection is operating the exploration program and will receive a 10% management fee. Alistair Waddell, Inflection’s President and CEO, states: “The Inflection team is excited to get this next chapter of the copper - gold exploration program in New South Wales underway, which is expected to comprise of approximately 35,000 metres of drilling and now fully funded by AngloGold. We estimate this phase of drilling will take approximately eighteen months to complete and will test twenty-four principal target areas of interest with each target area requiring multiple drill holes. We look forward to keeping shareholders updated with regular news flow from the ongoing drilling.” Duck Creek - Drilling The Company considers the Duck Creek exploration license to be highly prospective for large-scale alkalic porphyry-related copper-gold style targets comprising favourable magnetic and gravity features which the Company interprets to be part of the prospective Macquarie Arc volcanic sequence. The principal target area comprises a large 10 by 15-kilometre gravity low embayment within the large regional magnetic high. The Company considers the geological setting h...