Inflection Resources Completes Drill Program on Carron Project in Queensland
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Inflection Resources Completes Drill Program on
Carron Project in Queensland
Vancouver, British Columbia, December 18, 2023: Inflection Resources Ltd. (CSE: AUCU /
OTCQB: AUCUF / FSE: 5VJ) (the "Company" or "Inflection") is pleased to announce it has
completed four drill holes on its Carron Project in Northern Queensland, Australia.
Summary Highlights:
• Four drill holes totalling 1,055 metres were recently completed on the Carron Project;
• Drilling tested four separate aeromagnetic targets over an approximate 20 kilometre distance;
• Three holes intercepted a number of orogenic lode quartz veins considered by Inflection to be
similar to those found at the nearby Croydon Goldfields;
• The majority of the drilling was funded by a AUD$200,000 grant awarded by the Government
of Queensland as part of the Government’s Collaborative Exploration Initiative; and,
• All samples have been submitted for analysis and the results are pending.
Alistair Waddell, Inflection’s President and CEO, states: “We are encouraged to have intercepted
orogenic quartz veining which we consider similar to that at the Croydon Goldfields under a
sequence of post-mineral sedimentary cover. We are encouraged by what we see in the core but
will await the assay results prior to making any further exploration plans for the project next year”.
Carron Drilling:
Inflection has completed an additional four drill holes (CADH005–008 - Figure 2) totalling 1,055
metres and tested a variety of different aeromagnetic targets, three of which were interpreted to
represent structures mostly defined by north and northwest trending magnetic lows which are
considered to have the potential to host Croydon style vein mineralisation. Orogenic quartz
bearing pyrite-pyrrhotite + chalcopyrite ± arsenopyrite veins were intercepted in holes CADH005,
CADH006 (Figure 1) and CADH007 . The northernmost h ole, CADH008, did not intersect
appreciable quartz veins but it did intersect minor disseminated chalcopyrite and pyrrhotite hosted
in fine grained metasediments with variable amounts of patchy quartz-sericite alteration. The
Company interprets the quartz veins to be similar to those found at the Croydon Goldfields located
approximately 30 kilometres to the south although the recent drilling tested structures located
further east of the previous Inflection drilling which intercepted quartz veining but with no
significant gold values. Each of the wide spaced holes was designed to test separate magnetic
anomalies interpreted to be the manifestation of alteration and quartz veins over approximately
20 kilometres.
Each hole broadly intercepted between 90 and 150 metres of post-mineral cover before cutting a
sequence of Mesoproterozoic aged metasedimentary rocks and granitic intrusions.
Figure 1: Drill core from hole CADH006, massive orogenic quartz vein with pyrite -pyrrhotite-
marcasite-sphalerite-galena mineralization from 186.93 – 187.58 metres.
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The majority of the Inflection drilling was funded by a AUD$200,000 grant the Company received
from the Government of Queensland. The grant was awarded as part of the Queensland
Government’s Collaborative Exploration Initiative designed to encourage mineral exploration in
Queensland.
Figure 2: Drill hole location maps including regional geology and 1VD RTP magnetics .
About the Carron Project:
The Carron project is located approximately 400 kilometres west of Cairns in Northern
Queensland. Inflection identified a series of orogenic , potentially gold-bearing quartz vein and
intrusion related gold targets on trend from the historic Croydon Goldfields, one of Queensland’s
more significant high-grade gold mining districts. Total production from the Croydon Goldfields
after 1885 is repor tedly over one million ounces from numerous quartz -vein lode deposits
reportedly with an average grade of 35 g/t Au(1).
The Carron targets were generated by analysing data from a regional airborne magnetic survey
completed by the Queensland Government. Interpretation of the magnetic data identified a series
of extensive large north -west trending structures under post -mineral sedimentary cover, which
intermittently extend for over approximately 30 kilometres. Consequently, the Company flew a
3,855-line kilometre airborne high-resolution magnetic survey with 50-metre line spacing for better
target definition of the structure s to enable drill hole positioning. The high resolution airborne
magnetic data was processed and 3D magnetic vector inversion and conventional susceptibility
inversion modelling completed.
In late 2021, Inflection completed an initial four drill holes totalling 1,030 metres at Carron which
were successful in intercepting orogenic style quartz veins as modelled by the Company, although
only anomalous gold and base metal values were returned.
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Project Earn-In Details:
The Carron project is the subject of an Exploration Farm-in Agreement in which the Company
may earn up to a 100% interest. The Company currently owns a 70% interest in the project.
Qualified Person and Sampling Quality Control:
The scientific and technical information contained in this news release has been reviewed and
approved by Mr. Carl Swensson (FAusIMM) , a “Qualified Person” (“QP”) as defined in National
Instrument 43-101 – Standards of Disclosure for Mineral Projects. Drilling is being conducted
using a truck -mounted multi-purpose drill rig. Mud rotary drilling is utilised to drill through the
cover sequence before transitioning to diamond drilling using NQ sized core at the unconformity.
Core is logged at the Company ’s field office, photographed and marked before being cut to the
Company’s specified sample intervals. Half core samples are placed in bags with internationally
certified blanks and standards inserted. Samples are dispatched to ALS Laboratories , an
accredited analytical laboratory meeting ISO/IEC 17025:2005 and ISO 9001:2015. Samples are
prepared by crushing and grinding via ALS methods CRU-21 and PUL-32 respectively. The pulps
are then assayed for 48 elements via ALS method ME-MS61 using a 25g sample after a four acid
near total digest with an ICP -MS finish. Gold is assayed by fire assay using ALS method Au -
AA23 using a 30g sample charge and AAS finish. Laboratory standards and QA -QC are
monitored by the Company.
1. Van Eck M, Child R 1990 – Croydon Gold deposits: in Hughes F E (Ed.), 1990 Geology of the
Mineral Deposits of Australia & Papua New Guinea The AusIMM, Melbourne Mono 14, v1 pp 979-
982
About Inflection Resources Ltd. Inflection is a technically driven copper-gold and gold focused
mineral exploration company listed on the Canadian Securities Exchange under the symbol
“AUCU” and on the OTCQB under the symbol “AUCUF” with projects in Australia. For more
information, please visit the Company website at www.inflectionresources.com.
Inflection is part of the NewQuest Capital Group which is a discovery-driven investment company
that builds value through the incubation and financing of mineral projects and companies. Further
information about NewQuest can be found at www.nqcapitalgroup.com
On behalf of the Board of Directors
Alistair Waddell
President and CEO
For further information, please contact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
Forward-Looking Statements: This news release includes certain forward -looking statements and forward -looking
information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation.
All statements, other than statements of historical fact, included herein including, without limitation, statements
regarding future capital expenditures, amount of drilling, receipt of the maximum amount of available grant funding,
anticipated content, commencement and cost of exploration programs in respect of the Company's projects and mineral
properties, AngloGold’s anticipated funding of the Minimum Commitment and timing thereof, and the anticipated
business plans and timing of future activities of the Company, are forward-looking statements. Although the Company
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believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects",
"may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or
variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results
that may, could, would, might or will occur or be taken or achieved. Forward -looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of
the Company to differ materially from any future results, performance or achievements expressed or implied by the
forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated
business plans and timing of future activities of the Company, including the Company's exploration plans. the proposed
expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business
activities and plans, delays in obtaining governmental and regulatory approvals (including of the Can adian Securities
Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's
limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as
those factors discussed under the heading "Risk Factors" in the Company's prospectus dated June 12, 2020 and other
filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's
profile on the SEDAR we bsite at www.sedar.com. Readers are cautioned not to place undue reliance on forward -
looking statements. The Company undertakes no obligation to update any of the forward -looking statements, except
as otherwise required by law.