Business
Inflection Resources Outlines Exploration Strategy and Work Program
Vancouver, British Columbia--(Newsfile Corp. - July 21, 2020) - Inflection Resources Ltd. (CSE: AUCU) (the "Company" or "Inflection") is pleased to provide an u
About this update from Inflection Resources Ltd.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - July 21, 2020) - Inflection Resources Ltd. (CSE: AUCU) (the \"Company\" or \"Inflection\") is pleased to provide an update on its corporate and exploration activities in eastern Australia. Summary Highlights Inflection commences trading on the Canadian Securities Exchange (the \"CSE\") on July 21, 2020 under the symbol \"AUCU\". The Company is financed to execute its proposed exploration programs with approximately $4.68 million in the treasury. Funds will primarily be used to execute a first-pass drill program on twenty, large scale, 100% owned gold and copper-gold targets located in Northern New South Wales, Australia. These high priority targets are drill ready and previously never drill tested. A second, initial drill program will test priority targets over a 30 kilometre strike length of interpreted gold bearing structures on the Carron Gold Project in Queensland, Australia. Corporate Developments The Company is pleased to announce that it has completed an Initial Public Offering (\"IPO\") of its common shares to raise the maximum gross proceeds under the offering of $3,500,000. The IPO was oversubscribed, and the Company would like to thank our supporting investors including Resource Capital Funds and Sprott Inc. The net proceeds from the IPO combined with our pre-IPO working capital total approximately $4.68 million and will be used to execute our planned exploration programs in New South Wales and Queensland, Australia. For more information on the IPO, please refer to our news release dated July 17, 2020 and the Company's Prospectus dated June 12, 2020 (available on SEDAR under the Company's profile). Inflection will commence trading on the CSE on July 21, 2020 under the symbol \"AUCU\". Exploration Programs The Company has three principal exploration initiatives in New South Wales and Queensland, Australia, as follows. Northern NSW Project: Inflection is targeting large gold and copper-gold deposits in the interpreted northern extension of the Macquarie Arc, part of the Lachlan Fold Belt (LFB) in New South Wales. The Macquarie Arc is Australia's premier porphyry gold-copper province being host to Newcrest Mining's Cadia Valley deposits, the CMOC Northparkes deposits and Evolution Mining's Cowal deposits plus numerous active exploration prospects including the Boda Project,...