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

The KE Report Jan 20, 2026

Summary

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.

Key points on Anglogold Ashanti

  • AngloGold Ashanti is fully funding the ~$1M, 83-hole air core program at Trangi that Waddell says 'takes the Trangi project to the next level' (program announced with the January 19, 2026 drill results)
  • Under the four-stage earn-in, AngloGold must spend $7M at Trangi to earn an initial 51%; Waddell says roughly $2M of that has already been spent (as of the January 2026 interview)
  • Phase one of the agreement saw AngloGold spend $10M testing targets across Inflection's portfolio, then select four projects: Trangi, Crooked Creek, Ningen, and Duck Creek
  • Waddell says Trangi earned immediate focus because results there look the most promising, while Crooked Creek, Ningen, and Duck Creek continue into phase two at a lower priority

Key points on Evolution Mining

  • Waddell points to Evolution Mining's North Park's operation in New South Wales as a cluster of porphyry-type deposits — the kind of 'district-scale camp' Inflection is targeting across the Trangi land package

Key points on Newmont

  • Inflection Resources acquired a large portfolio of Northern Territory properties from Newmont last year (per the January 2026 interview) and is running desktop compilation work; field drilling there is planned after the wet season ends around mid-April

Alistair Waddell's takeaways

  • 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