Drilling Commences at Refined Energy's Uranium Project

Refined Energy launches its first drill program at the Dufferin West uranium property in Saskatchewan, targeting conductive anomalies near major deposits.

Refined Energy has initiated its maiden drilling campaign at the Dufferin West uranium property, located in Saskatchewan's prolific Athabasca Basin. The work began on March 2, 2026, marking the culmination of nearly two years of preparatory work. The program is funded by a CAD $1.5 million capital raise that was successfully completed in February.

Exploration Strategy and Immediate Targets

The initial phase of the operation involves a minimum of three oriented diamond drill holes, with a combined meterage of approximately 1,200 meters. The company has allocated a budget of roughly CAD $1.7 million to fully finance this work. Concurrently, a ground gravity survey is underway, designed to identify and refine additional targets for future drilling stages.

Target selection is based on conductive anomalies identified through historical airborne VTEM surveys. These anomalies were subsequently refined by a recently completed ground electromagnetic survey. This work has confirmed northeast-southwest trending structural corridors, which are characteristic of uranium mineralization systems within the Athabasca Basin. Notably, the depth to the sandstone unconformity is estimated to be a relatively shallow 60 to 340 meters.

Strategic Location and Project Terms

The project's geography is a key point of interest. The Dufferin property is adjacent to NexGen Energy's SW3 property and situated approximately 18 kilometers from Cameco's Centennial deposit. Historical drilling at the Centennial site once intersected a high-grade interval of 8.78% U?O? over 33.9 meters, underscoring the region's significant geological potential.

Refined Energy holds an option to acquire up to a 75% interest in the 10,140-hectare project from Eagle Plains Resources. To secure an initial 60% stake, the company must make cash payments totaling CAD $275,000, issue one million shares, and invest CAD $2.6 million in exploration by the end of 2026. A subsequent option allows for the acquisition of an additional 15% by the end of 2028, contingent upon further payments and a CAD $3 million exploration expenditure.

Focus Shifts to Assay Results

With drilling now underway, market attention will soon turn to the assay results from the core samples. The program is designed to be scalable; data from the ongoing gravity survey is expected to generate targets beyond the first three holes. Chuck Downie, CEO of Eagle Plains, commended Refined Energy's operational pace, noting the company had progressed the project from initial evaluation to drill-ready status in under two years.

For Refined Energy, an exploration-stage company without current revenue, the forthcoming geological data from Dufferin West is paramount. The coming weeks will be critical in determining whether the geophysical models and structural interpretations are validated by the physical evidence retrieved from the drill core.