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Inflection Resources Provides Drilling Update from Phase I Exploration Program in New South Wales
Vancouver, British Columbia, July 30, 2024 - TheNewswire: Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) (the "Company" or "Inflection") is ple
About this update from Inflection Resources Ltd.
[{"type":"text","content":"Vancouver, British Columbia, July 30, 2024 - TheNewswire: Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) (the \"Company\" or \"Inflection\") is pleased to provide an update on its ongoing Phase I exploration program in New South Wales, Australia conducted under an Exploration Agreement with and fully funded by AngloGold Ashanti Australia Limited (“AngloGold Ashanti”) announced on June 14, 2023. Summary Highlights: Recent Phase I drilling has focused on ten target areas: Canonba, Longstowe, Canonba North, Whiskey Creek, Brewon, Wombat Creek, Boorooma, Warrawing, Minoru and Merri Merri. First-pass scout drilling on the Canonba target has intercepted broad zones of strong epidote-magnetite-albite +/- biotite alteration which is locally overprinted by hematite-sericite-tourmaline with minor disseminated chalcopyrite and molybdenite bearing quartz veins. The Company considers this hydrothermal alteration and mineralisation intercepted in the initial drilling to be encouraging and suggestive of a porphyry proximal environment. First-pass scout drilling on the Longstowe target intersected biotite-magnetite-epidote with minor K-feldspar altered volcanics cut by minor quartz-chalcopyrite bearing veins, which the Company considers to be suggestive of a porphyry proximal environment. 9,180 metres of additional drilling comprising 17 holes have been drilled, bringing the total to 22,486 metres and 47 holes completed under Phase I of the AngloGold Ashanti Agreement. Alistair Waddell, Inflection’s President and CEO, states: \"We are very happy to provide an update on our AngloGold Ashanti-funded Phase I exploration program in New South Wales which is systematically drill-testing a diverse range of large, 100%-owned porphyry targets, none of which have been previously drilled. We are particularly excited about the first-pass scout drilling on the Canonba target which is located approximately five kilometres north of our Phase II Duck Creek project. Canonba's promising results suggest a potential genetic relationship between the two target areas. We await the geochronology results to confirm this working hypothesis.’ Canonba Three widely spaced holes were drilled into the Canonba targets totalling 1,845 metres (“m”) to test three distinct magnetic anomalies over an approximate dis...