Inflection Resources (AUCU.CN): Commences Initial Drill Program on Carron Gold Project, Queensland, Australia
THH: Inflection Resource with a ~US$14 M Enterprise Value is now drilling two of their projects simultaneously…
Vancouver, British Columbia, November 25, 2020: Inflection Resources Ltd. (the “Company” or ”Inflection”) (CSE: AUCU; Frankfurt: 5VJ) has initiated a first-pass drill program on its Carron gold project located in North Queensland, Australia. The drill program will test a number of orogenic lode gold, intrusion related gold, and copper-gold targets developed along trend from the historic Croydon Gold camp.
- The Carron project spans approximately 30 kilometres of untested, undercover, NW trending structural and magnetic features on trend from the historic, high-grade Croydon Goldfields;
- The Croydon district reportedly produced over one million ounces of gold from numerous high-grade quartz-vein lodes with an average grade of 35 grams per tonne gold (g/t Au)(1);
- First-pass drilling will test the first of eleven high-priority orogenic vein and Au-Cu intrusion related targets; and
- The Company received a grant of AUD$72,000 from the Queensland Government as part of its Collaborative Exploration Initiative to encourage exploration in under explored areas. The funds will be applied towards the cost of the drill program.
Alistair Waddell, Inflection’s President and CEO, states “Carron represents a true, untested, grassroots drill project in Northern Queensland, directly on geological trend from a historic high-grade gold camp. We are very excited to initiate first-pass drilling of a number of orogenic vein and intrusion related targets which extend over approximately 30 kilometres”.
Carron Gold Project
The Carron project is located approximately 400 kilometres west of Cairns in Northern Queensland. Inflection has identified a series untested orogenic vein and intrusion related targets northwest of and on trend from the historic Croydon Goldfields (Figure 1). The Croydon Goldfields was one of Queensland’s more significant gold mining districts, with a total production from 1885 reportedly over one million ounces from numerous high-grade quartz-vein lode deposits with an average 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. 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 to enable drill hole positioning (Figure 2). The high resolution airborne magnetic data was processed, and 3D magnetisation vector inversion and inversion modelling completed.
Inflection plans to test a number of the priority drill targets on trend from Croydon. These targets are completely covered by post-mineral sedimentary cover masking the potentially prospective geology. None of the Carron targets developed by the Company have previously been drill tested.
Figure 1 – Simplified geological map and airborne RTP 1VD magnetic survey data
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