Inflection commences trading on the Canadian Securities Exchange (the “CSE”)

  • CIMA
  • CIMA's Avatar Topic Author
  • Offline
  • Senior Member
  • Senior Member
1 week 3 days ago #125380 by CIMA
CIMA created the topic: Inflection commences trading on the Canadian Securities Exchange (the “CSE”)
Inflection Resources Outlines Exploration Strategy and Work Program
21st July 2020
Inflection Resources Outlines Exploration Strategy and Work Program

Vancouver, British Columbia, July 21, 2020: Inflection Resources Ltd. (the “Company” or “Inflection”) (CSE: AUCU) is pleased to provide an update on its corporate and exploration activities in eastern Australia.

Summary Highlights

Inflection commences trading on the Canadian Securities Exchange (the “CSE”) on July 21, 2020 under the symbol “AUCU”. The Company is financed to execute its proposed exploration programs with approximately $4.68 million in the treasury.
Funds will primarily be used to execute a first-pass drill program on twenty, large scale, 100% owned gold and copper-gold targets located in Northern New South Wales, Australia. These high priority targets are drill ready and previously never drill tested.
A second, initial drill program will test priority targets over a 30 kilometre strike length of interpreted gold bearing structures on the Carron Gold Project in Queensland, Australia.
Corporate Developments

The Company is pleased to announce that it has completed an Initial Public Offering (“IPO”) of its common shares to raise the maximum gross proceeds under the offering of $3,500,000. The IPO was oversubscribed, and the Company would like to thank our supporting investors including Resource Capital Funds and Sprott Inc. The net proceeds from the IPO combined with our pre-IPO working capital total approximately $4.68 million and will be used to execute our planned exploration programs in New South Wales and Queensland, Australia. For more information on the IPO, please refer to our news release dated July 17, 2020 and the Company’s Prospectus dated June 12, 2020 (available on SEDAR under the Company’s profile).

Inflection will commence trading on the CSE on July 21, 2020 under the symbol “AUCU”.

Exploration Programs

The Company has three principal exploration initiatives in New South Wales and Queensland, Australia, as follows.

Northern NSW Project: Inflection is targeting large gold and copper-gold deposits in the interpreted northern extension of the Macquarie Arc, part of the Lachlan Fold Belt (LFB) 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 Mining’s Cowal deposits plus numerous active exploration prospects including the Boda Project, the recent discovery made by Alkane Resources. This interpreted extension of the Macquarie Arc is covered by post-mineral sediments masking the underlying favorable Paleozoic volcanic rocks. Inflection is the largest landholder in the Macquarie Arc with 549,000 ha of exploration licenses and applications covering twenty drill-ready projects, which are 100% owned by the Company.
Carron Gold Project: Inflection is targeting high-grade gold bearing veins along strike from the historic Croydon Goldfields in northern Queensland. The Company controls approximately 30 kilometres of untested NW trending structures identified using high-quality airborne magnetics flown on 50 metre spaced flight lines. Eleven high-priority drill targets have been defined.
Artificial Intelligence Projects: The Company holds license to use a comprehensive database of targets in the southern part of the Macquarie Arc in NSW, generated using Artificial Neural Network technology. The Neural Network technology is used for predictive modeling where algorithms identify and predict hidden patterns and trends in verified, complex and seemingly unrelated data to identify new mineral deposits in the data rich southern Macquarie Arc. Follow up work by the Company has identified several areas of interest.

Please Log in or Create an account to join the conversation.

Moderators: RonS
Time to create page: 0.245 seconds
© 2019 All Rights Reserved. Designed By JoomShaper