VANCOUVER, British Columbia, Jan. 19, 2026 (GLOBE NEWSWIRE) -- Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) (the "Company" or "Inflection") is pleased to provide an update on drilling completed in New South Wales, Australia under the Exploration Agreement with AngloGold Ashanti Australia Limited (“AngloGold Ashanti”) as announced on June 14, 2023 and March 25, 2025.
Summary Highlights
- High-grade gold was intersected in a new standalone target area within the Trangie district. Drill hole TRNDH032 returned 3.0 metres grading 7.72 g/t gold from skarn-style alteration;
- Eighty-three air-core drill holes are planned to commence on the Trangie project in February to follow-up on the recent intercept in hole TRNDH032 and earlier porphyry gold-copper mineralisation intersected in hole TRNDH023; and
- Recent scout drilling totalled 2,605 metres in six holes, completed on individual targets within the Trangie, Nyngan, Crooked Creek and Duck Creek projects.
Alistair Waddell, Inflection’s President and CEO, states: “The discovery of high-grade gold in a new target area within the Trangie district represents a significant development in our systematic exploration of the broader Trangie area. This new zone is located approximately 5.5 km south of the porphyry mineralisation intercepted in hole TRNDH023 and opens up an area that has not previously been drill tested. The expanded drill program at Trangie is a significant step-forward with air-core drilling representing a proven and widely used drilling methodology in New South Wales, notably in the discovery of several deposits, including the Northparkes and Cowal mines. This discovery, made as part of our strategic alliance with AngloGold Ashanti, validates our exploration approach of systematic drilling across multiple targets in the northern extension of the Macquarie Arc."
Trangie Phase II Drilling:
Drill hole TRNDH032 was drilled to the south (180°) at -70° and is located approximately 5.5 km south of hole TRNDH023 which intersected the previously reported porphyry-style mineralisation (Figure 1). The hole targeted a northwest-trending magnetic high coincident with a Bouguer gravity anomaly. Drilling intersected a sequence of calcareous volcanogenic siltstones and andesite lavas that have been intruded by a hornblende-bearing monzonite. Drill core exhibits skarn-style alteration characterized by localized garnet-pyroxene-magnetite assemblages with a retrograde chlorite-epidote overprint (Figure 2). Mineralisation includes chalcopyrite associated with the skarn assemblages and disseminated magnetite alteration along with multi-generational epidote-calcite and quartz veining. Notable intercepts include 3.0 m grading 7.72 g/t Au from 190.0 m to 193 m; 2.0 m at 0.19% Cu from 199.0 m to 201.0 m; 1.85 m at 0.20% Cu from 208.5 m to 210.4 m; and 1.6 m at 0.10% Cu from 310.4 m to 312.0 m.
Drill hole TRNDH029 was drilled 270 m northwest of hole TRNDH023 in a northwesterly direction (310°) at -70° to follow-up on anomalous mineralisation encountered in TRNDH010 which returned 10.0 m grading 0.12 g/t Au from 221.0 m to 231.0 m. The hole intersected an interfingering sequence of andesites and sedimentary units with epidote and localized magnetite/albite alteration. Molybdenum was relatively elevated throughout the hole, with a maximum value of 12.25 ppm Mo over the interval 369.0 m to 371.0 m. All other elements were of low tenor.
Drill hole TRNDH031 was drilled 220 m northeast of hole TRNDH023 in an easterly direction (083°) at -60° to test an interval of elevated Cu-Au-Mo-S-Te-Ag and depletion in Mn-Zn at the bottom of drill hole TRNDH025 and a zone of biotite (potassic) alteration interpreted to plunge to the northwest of TRNDH023. TRNDH031 intersected multiple volcanic and sedimentary lithologies with pervasive biotite ± magnetite or K-feldspar, typical of potassic alteration and lesser silica-sericite-albite alteration. Sporadic porphyry style quartz-pyrite-chalcopyrite veins were observed down the hole with maximum assay values being 1.7 m at 783 ppm Cu, 0.015 g/t Au and 4.93 ppm Mo from 572.3 m to 574.0 m.
Figure 1: Trangie drill hole location map showing previously drilled Inflection holes (black), including TRNDH023 and TRNDH032 and the planned holes (yellow) on an aeromagnetic map (RTP-1VD).
Figure 2: Drill core photo from Trangie hole TRNDH032 showing skarn-style alteration characterized by localized garnet-pyroxene-magnetite assemblages with retrograde chlorite-epidote overprinting. The interval from 190.0 m to 193.0 m returned 3.0 m grading 7.72 g/t gold.
Trangie Project - Next Steps:
Eighty-three air-core drill holes (Figure 1) are planned for the Trangie project, focused on the area around hole TRNDH023 and the recently discovered zone in TRNDH032 where high-grade gold and elevated copper values were intersected. Drilling is scheduled to commence in February once the requisite permits and landowner access agreements are fully in place.
Following the identification of several areas of priority interest in the broader Trangie district, the decision was made to grid drill an area of approximately 15 km² on approximately 250 metre centres, with the objective of infilling areas where the Company has limited or no data. This first-pass drilling and geochemical dataset is expected to be highly effective for mapping discrete zones of alteration and mineralisation across the district. Inflection will draw on its in-depth technical expertise from other gold-copper deposits in New South Wales to analyze and interpret the data collected from this program.
The Company has commenced land access discussions and permitting for the drilling. The drill program will consist of air-core drilling, a cost-effective and efficient technique to collect lithological and geochemical data from the prospective Ordovician basement sequence, which should provide valuable vectors for deeper drilling.
Air-core is an inexpensive rotary drilling method that uses compressed air instead of drilling fluids to remove rock cuttings from the drill hole. The drill bit fractures the rock into small chips and chunks, which are then blown back up through the hollow drill rods to surface by high-pressure air. This creates a continuous stream of bedrock material that geologists collect and analyze, allowing explorers to map lithology, mineralisation and alteration. These results help determine where more detailed and expensive, deeper drilling is warranted.
Nyngan, Duck Creek and Crooked Creek Phase II Drilling:
Nyngan: Two holes totalling 675.8 m were drilled on the Nyngan project to test discrete, circular aeromagnetic high targets located approximately 4 km southeast of previous Inflection drilling. Hole NYNDH003 was drilled to the south (180°) at -70° and intersected basement at 236.5 m, where it intersected sandy, matrix-supported polymictic conglomerate and andesite, which is variably hematite altered to the bottom of the hole at 327.3 m. Assay results were low tenor for copper and gold. Hole NYNDH004 was drilled to the south (180°) at -70° and intersected two porphyritic felsic intrusions without any sulphide or quartz vein development. All assays were low tenor.
Duck Creek: Hole REEDH001 was drilled to the east (090°) at -70° into a standalone magnetic target on the Duck Creek project to test a zone of elevated aeromagnetic data. The hole intersected basement at a depth of 380.0 m and was terminated at 427.0 m after intersecting fine-grained limestone and calcareous sandstone intruded by a magnetic andesite. No sulphides or quartz veins where intersected and all assays were of low tenor.
Crooked Creek: One hole, CCKDH001, totalling 386.0 m, was drilled into a standalone magnetic target on the Crooked Creek license. The upper part of the hole intersected native copper in andesite; however, no sulphides were found in the chlorite-altered andesite. All assay results returned were of low tenor.
Figure 3: Map showing the location of the recent drill holes referenced in this release.
Details of the AngloGold Ashanti Earn-in Agreement:
Phase II:
AngloGold Ashanti can earn an initial 51% interest in four Designated Projects (Trangie, Nyngan, Crooked Creek and Duck Creek) by sole funding expenditures of AUD$7,000,000 on each project within 36 months (Table 1). If AngloGold Ashanti does not elect to complete the Phase II earn-in expenditure for a given Designated Project, Inflection will retain 100% ownership of the project with no interest earned by AngloGold Ashanti.
Phase III:
Upon completion of Phase II, AngloGold Ashanti may elect to earn an additional 14% interest in each Designated Project (for a total 65% interest) by sole funding additional expenditures of AUD$20,000,000 on each Designated Project within 24 months. If AngloGold Ashanti initiates but does not complete Phase III, then its ownership interest in the Designated Project will revert to 49%, which Inflection retains the right to purchase at a mutually agreed price or for fair value if a price cannot be mutually agreed within a specified period.
Phase IV:
Upon completion of Phase III, AngloGold Ashanti retains the right to earn a further 10% interest in each Designated Project (bringing its potential ownership interest to 75%) by completing the following:
- Delivering to Inflection a Pre-Feasibility Study (“PFS”) in accordance with the CIM Definition Standards on Mineral Resources and Ore Reserves based on a minimum 2,000,000 ounces of gold or gold-copper equivalent Measured and Indicated resources within 36 months after AngloGold Ashanti provides notice to move to Phase IV; and
- Granting to Inflection a 2% net smelter return (“NSR”) royalty on the applicable Designated Project; provided, however, that if the Designated Project has any existing underlying royalties, Inflection will be granted a 1% NSR. AngloGold Ashanti will have the right to buy back 0.5% of any 2% NSR and 0.25% of any 1% NSR in respect of all or a portion of the respective Designated Project for fair value at any time.
Table 1: Summary structure of the AngloGold Ashanti Earn-in Agreement
- Completion of PFS must include a minimum resource of two million ounces of gold or gold-copper equivalent Measured and Indicated resources per project.
- All expenditure timelines can be accelerated.
About Inflection’s NSW Projects:
The Company is systematically exploring for large copper-gold and 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 copper-gold province being host to Newmont Mining’s Cadia deposits, Evolution Mining’s Northparkes and Cowal deposits plus numerous exploration prospects, including Boda, a discovery made by Alkane Resources.
The Company uses cost-effective air-core or mud-rotary drilling to cut through unmineralised post-mineral sedimentary cover with a dual-purpose mud-rotary / diamond-core rig before transitioning to diamond core drilling once the mud-rotary drilling reaches basement. It is well documented that mineralised bodies elsewhere in the belt, in particular porphyry and intrusive-related systems, have relatively large district-scale alteration and geochemical halos or footprints surrounding them.
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. Mr. Swensson is not independent, as he is a director of the Company’s subsidiary and a shareholder of the Company.
Drilling was conducted using a truck-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 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 in Orange, an accredited analytical laboratory meeting ISO/IEC 17025:2005 and ISO 9001:2015. ALS prepares samples by crushing and grinding via methods CRU-31 and PUL-32a respectively. The pulps are then assayed for 64 elements via method ME-MS61r using a 25g sample after a four-acid near-total digest with an ICP-MS finish. Gold, platinum and palladium will be assayed by fire assay using method PGM-ICP23 using a 30 g sample charge and an ICP-MS finish. Laboratory standards and QA/QC are monitored by the Company using Oreas Certified Reference Materials. Coarse rejects will be subjected to short-wave near-infrared spectral analysis which provides detailed confirmation of the hydrothermal alteration present and is imperative for vectoring towards to a mineralised porphyry system.
About Inflection Resources Ltd.
Inflection is a gold-copper focused mineral exploration company listed on the Canadian Securities Exchange under the symbol “AUCU”, on the OTCQB under the symbol “AUCUF” and on the Frankfurt Stock Exchange under the symbol “5FJ”, with projects in New South Wales and the Northern Territory, Australia. For more information, please visit the Company website at www.inflectionresources.com.
About AngloGold Ashanti Plc
AngloGold Ashanti Plc is a global gold mining company with a diverse, high-quality portfolio of operations, projects and exploration activities across ten countries on four continents. Headquartered in Denver, in the United States, AngloGold Ashanti has its primary listing on the New York Stock Exchange and secondary listings in South Africa and Ghana. For more information, please visit the company website at www.anglogoldashanti.com.
NewQuest Capital Group
Inflection is part of the NewQuest Capital Group, an entrepreneurial, discovery-driven investment group that builds value through the incubation and financing of early-stage mineral exploration projects globally. Further information about NewQuest can be found at www.nqcapitalgroup.com.
FORWARD-LOOKINGSTATEMENTS
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 exploration expenditures by AngloGold Ashanti, amount of drilling, commencement and cost of exploration programs in respect of the Company's projects and mineral properties, AngloGold Ashanti’s anticipated funding of the Phase II Exploration Expenditures and timing thereof, 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 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+ website at www.sedarplus.ca. 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.
Photos accompanying this announcement are available at
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Figure 1
Trangie drill hole location map showing previously drilled Inflection holes (black), including TRNDH023 and TRNDH032 and the planned holes (yellow) on an aeromagnetic map (RTP-1VD).
Figure 2
Drill core photo from Trangie hole TRNDH032 showing skarn-style alteration characterized by localized garnet-pyroxene-magnetite assemblages with retrograde chlorite-epidote overprinting. The interval from 190.0 m to 193.0 m returned 3.0 m grading 7.72 g/t gold
Figure 3
Map showing the location of the recent drill holes referenced in this release
Table 1
Summary structure of the AngloGold Ashanti Earn-in Agreement
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