INFLECTION RESOURCES LTD. Inflection Resources Ltd. provide an update on its ongoing drill program in New South Wales, Australia conducted under the Exploration Agreement with AngloGold Ashanti Australia Limited announced on June 14, 2023. Two deep drill holes (DCKDH016 and 017) totalling 1,401.8 metres have recently been completed on the northern Duck Creek exploration license. The two holes are located approximately 1,200 metres apart and tested two distinct, circular magnetic lows.
The Company considers the Duck Creek exploration license to be highly prospective for large- scale alkalic porphyry-related copper-gold style deposits related to favourable magnetic and gravity features within part of the prospective Macquarie Arc volcanic sequence. Inflection drilling intersected strongly hydrothermally altered rocks with characteristics similar to those found adjacent to mineralised alkalic coppergold systems such as Newmont's Cadia mine and the Northparkes mine complex. In addition to strong inner propylitic alteration, chalcopyrite and blebs of bornite are locally associated with biotite-albite-K-feldspar- tourmaline potassic alteration.
The geology of the northern Duck Creek target consists of andesitic volcanics, comprising both polymictic volcanic breccias/conglomerates and massive andesites that are likely to be both lava flows and subvolcanic intrusions. Equigranular to weakly porphyritic hornblende-bearing monzonite to quartz monzonite occur in holes DCKDH016 and DCKDH017 and are interpreted to be pre-alteration in timing due to their largely equigranular groundmass and variably altered nature. Hydrothermal alteration intercepted to-date at Duck Creek is dominated by inner propylitic assemblages and shows the following characteristics and distribution: Well-developed fracture-controlled to pervasive hematiteepidotechlorite ± calcite alteration with lesser and variable amounts of magnetite, tourmaline, actinolite, pyrite, chalcopyrite and locally, bornite, is widespread in holes DCKDH007 and DCKDH017; Porous and permeable volcaniclastic units are commonly pervasively altered to the above assemblage whilst massive and broadly impermeable andesites are subject to fracture- controlled and pervasive inner propylitic alteration; and, Mineralisation associated with this alteration comprises minor disseminations and clots of pyrite, chalcopyrite and locally, bornite.
In the context of the known alkalic porphyry copper-gold deposits of the Early Silurian Cadia district, inner propylitic alteration is documented to extend 100 to >400 metres away from the transition from this assemblage to copper-gold bearing potassic and calc-potassic alteration at the high grade Ridgeway deposit, whilst at the Cadia East deposit, the inner propylitic alteration extends for up to 400 metres from mineralised potassic alteration in the hanging wall of this inclined porphyry deposit. In both instances, porphyry-related quartz veining is reportedly very minor to absent in areas of inner propylitic alteration. The Company is still awaiting many assay results from the laboratory, as well as key geochronology samples, green rock analysis, petrographic and spectral studies, all of which need to be reviewed and incorporated into evolving geological model where will apply a large- scale, systems-thinking approach to the ongoing drill targeting.
Duck Creek - Geophysical Surveys: Three separate geophysical surveys have been completed on the Duck Creek exploration license including Ambient Noise Tomography, an Induced Polarisation/Magnetotellurics survey and a ground gravity study. All data has now been received and the results of the surveys are currently being interpreted by Inflection and AngloGold in conjunction with Perth based consultants Mira Geoscience. Results of the integrated surveys will be released in the new year although preliminary indications are the ANT and gravity surveys have worked very well and the IP/MT did not appear to penetrate the post-mineral sedimentary cover.
Fairholme Drilling: One drillhole totalling 534.3 metres was completed on the Fairholme target. The hole was designed to test the margin of a distinct magnetic high. Assays are pending although no values of economic interest are anticipated.
Meringo: One drillhole (MERDH004) totalling 450 metres was completed on the Meringo target. The hole was drilled to test a large aeromagnetic complex inferred to represent a zone of magnetite enrichment, associated with porphyry-copper-gold mineralisation below unconformable Devonian to Silurian limestones. Beneath the limestones the hole intercepted highly magnetic, unmineralized megacrystic andesites interpreted to be lava flows.
Assays are pending although no values of economic interest are anticipated and no further work is planned on the Meringo target. Trangie: Four drillholes totalling 1,980 metres were completed on the Trangie target to step-out from previous holes which intersected intense epidote-albite alteration and elevated porphyry-related path-finder elements. The four holes all intersected an intercalated sequence of moderate chlorite and weak-moderate epidote altered volcaniclastic sediments and andesites.
A full review of these and all previous holes will be completed prior to planning any additional holes into this target. Assays have only been received for drill hole TRNDH019 which returned maximum values of 2 metres at 0.23% Cu and 0.09 g/t Au from 433 metres. Assays from all other holes are pending.
Nyngan: One drillhole totalling 169.9 metres was completed on the Nyngan target. The hole tested the margin of a distinct magnetic high and intercepted a mixed package of epidote and haematite altered andesites and andesitic volcaniclastics with patchy disseminated pyrite and occasional quartz veins. Assays are pending.
Canoba: One drillhole totalling 474.5 metres was completed on the Canoba target. The hole tested a discreet aeromagnetic high and intersected intercalated chlorite altered siltstone and epidote altered magnetic andesite. Assays are pending although no values of economic interest are anticipated, and no further work is planned on the Canoba target.
Marra: One drill hole was drilled on the Marra target to a depth of 190 metres to test a distinct, circular magnetic low. Drilling intersected a heavily fractured, flow-banded, hematite- sericite altered quartz-alkali feldspar trachyte. Assays are pending although no values of economic interest are anticipated, and no further work is planned on the Marra target.
Drilling Plans Going Forward: The Company is still awaiting a large number of assay results from the laboratory, as well as key geochronology samples, green rock analysis, petrographic and spectral studies, all of which will be incorporated into evolving geological models for the various targets including Duck Creek and Myallmundi.
