Vancouver, British Columbia — January 19, 2026 — Leads & Copy — Inflection Resources Ltd. has provided an update on drilling completed in New South Wales, Australia, under an exploration agreement with AngloGold Ashanti Australia Limited.
The company (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) announced that high-grade gold was intersected in a new standalone target area within the Trangie district. Drill hole TRNDH032 returned 3.0 meters grading 7.72 g/t gold from skarn-style alteration.
Alistair Waddell, Inflection’s President and CEO, said the discovery of high-grade gold in a new target area within the Trangie district represents a significant development in the company’s systematic exploration of the broader Trangie area. Waddell added that this new zone is located approximately 5.5 km south of the porphyry mineralization intercepted in hole TRNDH023 and opens up an area that has not previously been drill tested.
Inflection plans to commence 83 air-core drill holes on the Trangie project in February to follow up on the recent intercept in hole TRNDH032 and earlier porphyry gold-copper mineralization intersected in hole TRNDH023. Recent scout drilling totaled 2,605 meters in six holes, completed on individual targets within the Trangie, Nyngan, Crooked Creek, and Duck Creek projects.
Drill hole TRNDH032 was drilled to the south (180°) at -70° and is located approximately 5.5 km south of hole TRNDH023. 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. Mineralization 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 mineralization 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.
Eighty-three air-core drill holes are planned for the Trangie project, focused on the area around hole TRNDH023 and the recently discovered zone in TRNDH032. 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. The company has commenced land access discussions and permitting for the drilling.
Two holes totaling 675.8 m were drilled on the Nyngan project. Hole NYNDH003 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. Hole NYNDH004 intersected two porphyritic felsic intrusions without any sulphide or quartz vein development. All assays were low tenor. Hole REEDH001 was drilled to the east (090°) at -70° into a standalone magnetic target on the Duck Creek project. 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. 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.
Under the terms of the AngloGold Ashanti earn-in agreement, 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. 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. 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 a Pre-Feasibility Study (“PFS”) 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.
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 scientific and technical information contained in this news release has been reviewed and approved by Mr. Carl Swensson (FAusIMM). Drilling was conducted using a truck-mounted multi-purpose drill rig. Samples are dispatched to ALS Laboratories in Orange.
Alistair Waddell, President and CEO
alistair@inflectionresources.com
Brennan Zerb, VP Investor Relations
bzerb@inflectionresources.com
+1 (778) 867-5016
Source: Inflection Resources Ltd.
