Inflection Resources Intersects Orogenic Quartz Lodes at Carron Gold Project, Queensland, Australia
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Inflection Resources Intersects Orogenic Quartz Lodes at Carron Gold
Project, Queensland, Australia
Vancouver, British Columbia, March 31, 2022: Inflection Resources Ltd. (CSE: AUCU) (FSE:
5VJ) (OTCQB: AUCUF) (the "Company" or “Inflection”) is please d to provide an exploration
update from its Carron gold project located in Northern Queensland, Australia. Exploration has
been focused on two high-priority orogenic lode gold targets along trend from the historic Croydon
gold mining district.
Summary Highlights
• Inflection has completed two additional scout drill holes into the Carron project located in
northern Queensland, Australia. The Company has now drilled four holes totalling 1,030
metres on the project located approximately 60 kilometres north of the high-grade Croydon
gold mining district;
• Three of the four completed holes have successfully intersected widely spaced, orogenic,
quartz vein lode systems with sphalerite and galena hosted in graphitic metasedimentary
rocks. The sphalerite and galena hosted in graphitic metasediments at Carron are typical of
that seen at Croydon;
• The current drilling provides increased confidence in the exploration model and the ability to
successfully target blind, orogenic quartz veins through barren, post-mineral cover;
• Given the potential strike length of the anomalous structures which extend over approximately
30 kilometres within the licence area, many targets still remain to be tested in the 2022 dry
season and significant scope remains for the discovery of mineralised shoots; and,
• The Company has engaged renowned geological consultants Dr. Gregg Morrison and Dr.
Douglas Haynes to provide an interpretation of the drill results and specific recommendations
for further drilling.
Alistair Waddell, Inflection’s President and CEO, states : “Inflection continues to systematically
explore the Carron project for Croydon-style gold-bearing quartz veins. While the results returned
to-date report low tenor gold values, we remain confident that additional targeting work can lead
to the identification of high-grade gold bearing vein sets and shoots in this large district scale
system that extends over thirty kilometres. We are also very much encouraged by the ability to
target and successfully intercept blind quartz veins though a sequence of post-mineral cover.”
The Carron project is located approximately 400 kilometres west of Cairns in Northern
Queensland. Inflection has identified a series untested orogenic potentially gold-bearing quartz
vein and intrusion related gold targets on trend from the historic Croyd on Goldfields , one of
Queensland’s more significant high -grade gold mining districts . Total production from the
Croydon Goldfields after 1885 is reportedly over one million ounces from numerous quartz -vein
lode deposits reportedly with an average of 35 g/t Au(1).
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The Carron targets were generated by analysing data from a regional airborne magnetic survey
completed by the Queensland Government. The magnetic data outlined a series of large north -
west trending magnetic anomalies under post -mineral sedimentary cover, which intermittently
extend for over 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 and to
enable drill hole positioning. The high resolution airborne magnetic data was processed, and 3D
magnetic vector inversion and conventional susceptibility inversion modelling completed.
Inflection has now completed four holes totalling 1,030 metres (Figure 1) since the inception of
the Carron drill program , although drilling has been paused during the northern Australian wet
season when the project area is generally inaccessible. Best results reported from the recent
holes include: 4m grading 0.083 g/t Au from 145m, in hole CADH004 which includes 1m grading
0.123 g/t Au, 137.5 ppm As from 146m. This zone reported low magnetite susceptibility values
suggestive of magnetite destruction by hydrothermal alteration.
Figure 1. Carron project drill hole locations on total magnetic intensity (TMI) reduced to pole (RTP) with
interpreted district scale structures (MGA94 Zone 54).
The Company has engaged renowned geological consultants Dr. Gregg Morrison and Dr.
Douglas Haynes to provide an interpretation of the drill results and recommendations for further
drilling. The reports from these consultants are pending. It is anticipated additional drill targets
will be drilled in the dry season which typically extends from May through to November.
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Drill hole CADH003 tested a Croydon-style vein array target associated with an inferred magnetite
depleted zone on the flank of Bouguer Gravity anomaly low and a magnetic high. The hole
targeted the margin of an inferred intrusion and intersected the unconformity at 138.85m down
hole and a sequence of basement metasediments. A 6.8m structural zone was intersected from
193.5 to 200.3m down-hole with 20% quartz veins and traces of arsenopyrite and pyrite. Minor
chalcopyrite was noted in the hanging wall of the structure from 163.5 to 198.3m down-hole and
traces of red sphalerite from 182.1 to 193.5m. The structure was measured to strike 352̊ degrees
and dip 50 0E which is broadly consistent with the attitude and dip of the Croydon gold-bearing
vein deposits with the sphalerite and galena typical of that seen at Croydon.
Hole CADH004 tested a Croydon style vein target which intersected the unconformity at 132.1m
down hole and terminated at 236.3m (Figure 2). The lithologies throughout the basement were
similar to hole CADH003. The target vein structure was intersected over a 7.6m zone from 186.2
to 193.8m down-hole characterised by strong ly brecciated quartz vein s, similar to that
encountered in CADH002 ; however, with low base metal sulphide content. Minor amounts of
sphalerite, chalcopyrite and pyrite are associated with the quartz veins throughout the structure.
Figure 2 – CADH004 – Quartz veining and quartz vein stockwork extending from approximately 186.2 to
193.8 metres down hole.
Qualified Person
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.
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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
Sampling Quality Control
Drilling was conducted using a tr ack-mounted multi-purpose drill rig. Mud rotary drilling was
utilised to drill through the cover sequence before transitioning to diamond drilling using NQ sized
core at the unconformity. Core was preliminary logged on site before being transported to
Dynamics G -Ex secure facility in Mt. Isa, Queensland. Here the core was logged in detail,
photographed, and marked before being cut to the Company’s specified sample intervals by
Inflection staff. Half core samples were placed in bags with internationally cer tified blanks and
standards inserted.
Samples were dispatched to ALS Laboratories in Townsville, Queensland, a n accredited
analytical laboratory meeting ISO/IEC 17025:2005 and ISO 9001:2015. Samples were prepared
by crushing and grinding via ALS methods CRU-32a and PUL-25c respectively. The pulps were
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 was 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. Coarse rejects from the sample preparation are subjected to SWIR
and VNIR spectral analysis by AUSPEC. The core is stored in a secure lock-up facility in Mt. Isa.
About Inflection Resources Ltd. Inflection is a technically driven gold and copper-gold focused
mineral exploration company listed on the Canadian Securities Exchange under the symbol
“AUCU” with projects in Eastern Australia. The Company is systematically drill testing a large
portfolio of drill-ready projects in New South Wales and in Queensland.
The Company is exploring for large gold and copper -gold deposits in the northern interpreted
extension of the Macquarie Arc, part of the Lachlan Fold Belt 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 Mi ning’s Cowal deposits plus
numerous active exploration prospects including the Boda project, the recent discovery made by
Alkane Resources.
For more information, please visit the Company’s website at www.inflectionresources.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,
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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,
and the anticipated business plans and timing of future activities of the Company, are forward -
looking statements. Although the Company 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 Canadian Securities
Exchange), permits or financing, changes in laws, regulations and po licies 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 website 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.