Alistair Waddell

Inflection Resources: Trangie Exploration: 92 Holes Completed, AngloGold Ashanti Exploration Partner

• Top takeaway The guest argues Trangie is best read as a district of clustered alkalic porphyry centres rather than a single target, with the two known mineralised zones ~5 km apart and possible additional systems in between — the reason he and AngloGold Ashanti chose a systematic ~15 sq km grid-drill approach before more expensive diamond drilling.
• He frames the air core program as essentially an 'advanced soil sampling programme' giving ~15 m of geological control, assaying 52 elements every 2 m to vector on copper, gold, and pathfinder anomalies at the cover-basement contact, and expects the integrated dataset to produce a clear 'heat map' of warmer/cooler areas for the next drill phase.
• On Endurance, he stresses the IOCG targets (Barrel Eye, Big Eye) are large and have never been drilled, so the plan is early-stage air core / RC scout holes later in 2026 using NT government co-funding, followed by courting a major partner — explicitly repeating the playbook that brought AngloGold Ashanti into NSW.
• He highlights that the prospect-generator strategy is being actively supported by non-dilutive government grants (~$300k from the NT in 2026, ~$700k from NSW over recent years), allowing Inflection to advance targets without tapping equity markets, while an active pipeline of new project-generation work continues in the background.

Inflection and partner AngloGold Ashanti are systematically grid-drilling a 15-square-kilometer porphyry copper-gold target under cover at Trangie, NSW, fully funded by AngloGold. The 92-hole air-core program enables district-scale mapping of alteration, geology, and 52-element geochemistry to vector toward Northparkes-style alkalic porphyry deposits. Multi-element assaying at 2-meter sample intervals builds a geochemical heat map within 6 to 8 weeks, guiding diamond drill targeting on the highest-priority zones. At Endurance, gravity and IP surveys over Big Eye and Barrel Eye anomalies are positioning maiden IOCG scout drilling before year end. Northern Territory and NSW government co-funding grants give Inflection non-dilutive capital to advance ground geophysics this year and qualify targets for major-miner partnerships.

Inflection Resources - High-Grade Gold Discovery At Trangie, AngloGold Ashanti Exploration Partner

• Top takeaway Waddell argues Trangi now shows 'district-scale camp' potential — the new Trangi South scarn-style intercept, prior porphyry-style mineralization, and the Mylar Monday target ~4 km north together point to multiple porphyry centers across the package, which is the original New South Wales thesis
• He plans to concentrate AngloGold-funded drilling at Trangi rather than spread thin across the joint venture, while keeping Crooked Creek, Ningen, and Duck Creek advancing under phase two at a lower priority
• He is comfortable taking early-stage exploration risk himself on the 100%-owned projects and using success to attract a major partner if warranted — the same path that originally drew in AngloGold Ashanti
• He emphasizes Australia is logistically simple to operate, free of seasonality, and very cost-effective to drill compared with North America — supporting Inflection's prospect-generator model

Inflection Resources intersected 3 meters at ~8 g/t gold in one hole into a blind target 5.5 km south of prior Trangie drilling. AngloGold Ashanti is fully funding Trangie exploration — ~$2M spent of a $7M earn-in to 51%, with an 83-hole air-core program ahead. Air-core drilling acts as a cheap, wide-area geochemical survey to vector toward porphyry centers hidden beneath ~50 m of younger cover. Beyond Trangie, Inflection owns 100% of Dandalou and six copper-gold targets — Burbar, Colossal and Boguer — testing cheap, never-drilled intrusive systems. The skarn-style hit is encouraging because skarn mineralization commonly fringes larger porphyry systems, which remain Inflection's primary exploration focus.