Vancouver, British Columbia–(Newsfile Corp. – July 22, 2020) – Inflection Resources’ (CSE: AUCU) President & CEO, Alistair Waddell is interviewed by Fiona Forbes of InvestmentPitch Media.
Newly listed on the Canadian Securities Exchange, the company raised gross proceeds of $3.5 million from the IPO placement of 14 million units priced at $0.25 per unit.
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Alistair Waddell, President and CEO, stated: “We are happy to have completed the IPO process and are now ready to commence trading and initiate drilling in New South Wales, Australia. The net proceeds from the IPO combined with our pre-IPO working capital totals approximately $4.68 million and will be used to execute our planned drill programs on our Northern NSW Romardo Project in northern New South Wales, Australia and for general working capital.”
The company has 3 principal exploration initiatives in Australia, the Northern NSW Projects and Artificial Intelligence Projects in New South Wales and the Carron Gold Project in northern Queensland.
Over the last two years, Inflection has applied for nineteen exploration licenses at the Northern NSW Projects, covering twenty drill-ready projects which are 100% owned by the company. With the exception of one encouraging drill hole in the Macquarie Project, none of the individual targets have previously been drill tested.
Inflection will complete a first-pass drill program across the 20 targets comprising an initial 38 drill holes which is expected to take several months. The company is taking a portfolio approach to the drill targets and is realistic in its expectations that not all targets will yield successful results. The company believes by having 20 separate targets, the odds of identifying a new mineralised system are significantly enhanced and is taking a “drill and kill” type approach to the portfolio, testing as many targets as possible for the least amount of capital.
In Northern Queensland, Inflection is targeting high-grade orogenic gold bearing veins and intrusive related gold systems along strike from the historic Croydon Goldfield. After reviewing the regional public domain airborne magnetics in the vicinity of Croydon, a series of large north-west trending magnetic anomalies were identified. The anomalies, which extend over approximately 30 kilometres, lie along structural strike to the northwest from the Croydon Goldfield.
For more information please visit the company’s website www.InflectionResources.com or contact Alistair Waddell, President and CEO, at 604-681-3170.
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