Refined Energy Corp. [CSE: RUU; OTC: RRUUF; FRA: CWA0] reported that the ground geophysical team has mobilized at Dufferin Lake Lodge as part of its Dufferin West exploration program, Saskatchewan. Drilling is planned to begin later in February.
Refined has the right, at its option, to acquire up to a 75% interest in the Dufferin Project from Eagle Plains Resources Ltd. [TSXV: EPL; OTCQB: EGPLF] through a series of cash payments, share issuances and funding exploration expenditures on the Dufferin Project.
A time-domain EM (TEM) ground geophysical program is underway to prioritize additional drill targeting. Upon completion, the data will be used to generate a detailed inversion and develop three-dimensional Maxwell plates to further refine drill hole targeting. All contracts have been confirmed to commence the drill program later in February. The program is planned to include a minimum of three drill holes totalling approximately 1200 metres, designed to test two distinct conductors on the Dufferin West property. The initial budget is approximately $1.7 million. Simultaneously a ground gravity geophysical program will be conducted to further define and refine drill targets.
The Dufferin West program is driven by results from geophysical and technical work, paired with advanced interpretive analysis to define the most promising targets.
This work has confirmed the presence of key NE-SW trending structures that correspond with known uranium-bearing systems across the region. Dufferin West is located approximately 18km from Cameco’s Centennial Deposit (historic drill hole VR-031W3 intersected 8.78% U308 over 33.9m). The properties are prospective for unconformity- and basement-hosted uranium mineralization in proximity to NE-SW trending faults. Faulted basement contacts and brittlely reactivated structures are the primary locations for mineralization in the area covered by the Dufferin Project.
Mark Fields, CEO, stated, “This is an exciting period for Refined Energy. The Athabasca Basin region is renowned for its history of exploration, discovery, and development of high value uranium mines. With the drill arriving shortly, we will see the culmination of significant work to generate the prospective drill targets to test for high grade deposits that characterize the Athabasca Basin.”
The company has terminated the option on the Basin property as it continues to focus on the Dufferin Project and the upcoming drill program.
With its Dufferin Project located in Saskatchewan’s Athabasca Basin region, the company is advancing assets supporting the clean energy transition.
Source: Resource World Magazine – Read More
