Business
Inflection Resources Provides Update on Drilling and Geophysical Surveys in New South Wales
Vancouver, British Columbia – TheNewswire - October 11, 2023: Inflection Resources Ltd. (CSE:AUCU) (OTC:AUCUF) (FSE:5VJ) (the "Company" or "Inflection") is plea
About this update from Inflection Resources Ltd.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - October 11, 2023: Inflection Resources Ltd. (CSE:AUCU) (OTC:AUCUF) (FSE:5VJ) (the \"Company\" or \"Inflection\") is pleased to provide an update on its ongoing exploration programs in New South Wales, Australia conducted under an Exploration Agreement with AngloGold Ashanti Australia Limited (“AngloGold”) announced on June 14, 2023. Summary Highlights: Initial drilling has focused on two principal target areas, Duck Creek and Myallmundi where earlier drilling by the Company intercepted favourable alteration indicative of being in proximity to a possible porphyry system; 6,845 metres of drilling comprising fourteen holes has now been completed using two combination mud rotary/diamond drill rigs. All assays are pending from the laboratory; One deep drill hole has been completed on the northern sector of the Duck Creek exploration license. Hole DCKDH007 intersected biotite-magnetite ± K-feldspar altered andesitic volcanic rocks cut by minor quartz-magnetite and porphyry-style B veins indicative of a porphyry-proximal outer potassic environment. The alteration suggests this hole vectored to a more distal area of the potential mineralised porphyry. To improve targeting, geophysical surveys are underway over this specific area prior to drilling the next phase of deeper drill holes; Two separate geophysical surveys are currently underway on the northern Duck Creek exploration license including Ambient Noise Tomography (ANT) and an Induced Polarisation/Magnetotellurics (IP/MT) survey. Both surveys are expected to be completed shortly. A third survey, a ground gravity study, was just completed by the Company; and, Four follow-up drill holes completed on the Myallmundi target intersected chalcopyrite and molybdenite bearing quartz veins which locally exhibit K-feldspar selvages along with early biotite-magnetite-epidote alteration indicative of being in the porphyry proximal environment. The occurrence of chalcopyrite and molybdenite bearing quartz veins have been reported on the margins of mineralised porphyry copper deposits in the Macquarie Arc including Newcrest’s Cadia East mine. Alistair Waddell, Inflection’s President and CEO, states: “We are pleased with the initial progress of the resumed drill program in New South ...