VANCOUVER, British Columbia, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Refined Energy Corp. (CSE: RUU; OTC: RFMCF; FRA: CWA0) ("Refined" or the "Company") is pleased to announce that it has completed the review and interpretation of historical geophysical survey data at the Dufferin North property in the Athabasca Basin. Four priority target areas were identified by Condor Consulting Inc. ("Condor") using archived electromagnetic (MEGATEM), magnetic and gravity data. The data interpretation is part of the 2024 work program on the Dufferin Project as described in the news release of October 7, 2024. The property lies adjacent to and within the Virgin River Shear Zone, approximately 18km along strike to the south-southwest from the Centennial uranium deposit of Cameco Corporation.
Four target zones were identified by Condor using an airborne gravity survey as the primary data source, complemented by regional magnetic data. A series of gravity lows, potentially indicative of alteration, coincide with a north-northeast trending magnetic low and are overlain by several conductor traces from historical EM surveys. Geochemical anomalies and a lithogeochemical halo are also present on the property.
In the fall of 2024, a modern MobileMT airborne geophysical survey was flown by Expert Geophysics Ltd. to complement the historical datasets. The contractor completed 123 line kilometers over two of the four target zones before needing to abandon the survey due to adverse weather. Interpretation of the recent survey results in conjunction with the historical data is underway.
Mark Fields, Chief Executive Officer of the Company stated, "We are very encouraged to receive positive results from this interpretation of the historical work at Dufferin North. The data will allow us to focus future work on these prospective targets. Simultaneously we are advancing our drill program plans for Dufferin West, located 40 km south of Dufferin North. Our work is focused on the discovery of potential high-grade deposits that characterize the Athabasca Basin."
The Dufferin Project is located on or in close proximity to the known trace of the Virgin River Shear Zone and related splays. These are key structures for potential uranium mineralization and are prospective for unconformity- and basement-hosted uranium mineralization. Faulted basement contacts and brittlely reactivated structures are the primary locations for mineralization in the area covered by the Dufferin Project. The relatively high concentration of secondary uranium-bearing minerals demonstrated by prior exploration work on the Dufferin Project may also indicate uranium mineralization remobilization may play an important role in this region of the Athabasca Basin. Geophysical EM and magnetic anomalies demonstrated by prior exploration work on the Dufferin Project are supported by previous uranium and boron soil and lake sediment anomalies along the inferred fault zones, which are expected to aid in focusing future exploration programs.
Some of the above results were taken directly from the SMDI descriptions and assessment reports (SMAF) filed with the Saskatchewan government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work on the subject properties. Eagle Plains' management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
Refined has an option to acquire up to 75% from the Vendor, Eagle Plains Resources Ltd. ("Eagle Plains") as per the news release on February 27, 2024.
Qualified Persons
C. C. (Chuck) Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.
About Refined Energy Corp.
Refined Energy Corp. is a junior mining company dedicated to identifying, evaluating and acquiring interests in mineral properties in North America. In addition to the Dufferin Project, Refined also has an option to earn up to a 100% interest in the Basin and Milner uranium properties in Saskatchewan. The Company continues to review other mineral properties in North America for possible acquisition in the future.
For further information, please contact:
Phone: (604) 398-3378
Email: Info@refinedenergycorp.com
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Company's exploration plans and objectives at the Dufferin Project; the exploration potential of the Dufferin Project, including the potential of the Dufferin Project to host unconformity- and basement-hosted uranium mineralization; and the utility of prior historic exploration work in focusing future exploration programs.
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, the assumption that: the Company will successfully complete its planned exploration programs in accordance with current expectations and that such programs will yield the results anticipated by the Company, including identifying disrupted faults delineated by EM conductors and other geophysical anomalies for drill targeting.
Although forward-looking information is based on the reasonable assumptions of the Company's management, there can be no assurance that any forward-looking information will prove to be accurate. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral projects, including risks relating to changes in project parameters as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project and that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company, including identifying disrupted faults delineated by EM conductors and other geophysical anomalies for drill targeting and discovering unconformity- and basement-hosted uranium mineralization. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The CSE has neither approved nor disapproved the information contained herein
