Refined Energy Corp. has completed an in-depth review of historical geophysical survey data for its Dufferin West Property, located in the Athabasca Basin, renowned for high-value uranium deposits.
Dufferin West Compilation Map. Image Credit: Refined Energy Corp.
Condor Consulting Inc. has identified three priority target areas by analyzing archived versatile time domain electromagnetic (VTEM) and magnetic data. Plans are now underway to initiate a drill program for the highest-priority targets. This data interpretation is part of the Company’s 2024 work program on the Dufferin Project, as detailed in its October 7 news release.
The interpretation, focused on the southeast section of the property, identified three geophysical target areas near the Virgin River Shear Zone.
The top-priority target area, illustrated in the figure above, includes two conductors. The first is a strong conductor linked to a clear magnetic transition, extending from the unconformity at the sandstone-basement contact well into the basement rocks below. The second conductor also extends from the unconformity but reaches a lesser depth into the basement rocks. This area remains untested by drilling, with the sandstone cover above the unconformity estimated to be relatively shallow at under 200 m.
Notably, uranium deposits in the Athabasca Basin are often situated at or below this unconformity contact. The remaining two targets also feature conductors accompanied by magnetic anomalies.
Refined is now developing an adequate drill program to evaluate the most important target area.
We are very encouraged to receive notably positive results from our initial work on Dufferin West. It is exciting to be planning an initial drill program for Refined Energy in the Athabasca Basin, renowned for its history of exploration, discovery, and development of high value uranium mines. The Dufferin Project is located in proximity to NE-SW trending faults which are known to host uranium mineralization. Our work is focused on the discovery of potential high-grade deposits that characterize the Athabasca Basin.
Mark Fields, Chief Executive Officer, Refined Energy Corp.
Refined holds an exclusive option to acquire a 75 % interest in the Dufferin Project from Eagle Plains Resources Ltd., as per the February 27, 2024, news release. Covering 10,140 hectares, the Dufferin Project consists of the North and West Dufferin properties, situated approximately 18 km from Cameco’s Centennial Deposit, where historic drill hole VR-031W3 intersected 8.78 % U3O8 over 33.9 m (SMAF 74G12-0061).