Eagle Plains partner keeps drilling at Dufferin West

Executive Summary

• Eagle Plains Resources Ltd.'s partner, Refined Energy Corp., has completed the first drill hole (DW26-001) at the Dufferin West uranium property in Saskatchewan, successfully reaching the targeted unconformity depth of 332 meters.
• A second drill hole (DW26-002) is currently underway to test a high-priority electromagnetic (EM) conductor and associated structural targets, following the completion of a ground gravity survey to refine exploration targets.
• The initial exploration program is budgeted at approximately $1.7 million and plans for a minimum of three drill holes totaling roughly 1,200 meters to evaluate high-priority geophysical and structural targets for uranium mineralization.

Key Details

• Drill Hole DW26-001:
  • Successfully reached the targeted unconformity depth at 332 meters.
  • Completed in basement rock at a total depth of 432 meters.
  • Validated the company's geological model.
  • Core logging and sampling are underway; samples are being submitted to an accredited laboratory for assay results.
• Drill Hole DW26-002:
  • Currently underway, located approximately 100 meters south of the first hole.
  • Designed to evaluate the same high-priority EM conductor defined by previous airborne VTEM data and refined by a recent time-domain moving-loop EM (TEM) ground geophysical program.
  • Targets the interpreted intersection of the EM conductor with a gravity low, believed to represent a cross-cutting N70 structural fault associated with Athabasca basin uranium mineralization.
• Geophysical Surveys:
  • MWH Geo-Surveys completed a ground gravity survey across the target area.
  • Survey covered 817 unique stations in a 50m x 100m grid, encompassing approximately 530 hectares.
  • Preliminary results have been incorporated into the targeting of the second drill hole and will aid in targeting the planned third hole.
• Program Scope and Budget:
  • Initial budget is approximately $1.7 million.
  • Planned for a minimum of three drill holes.
  • Total planned drilling volume is approximately 1,200 meters.
  • Oriented core collection is planned to provide critical geological and structural information.
• Property Details:
  • Eagle Plains owns 100% of the Dufferin West property.
  • Refined Energy Corp. holds an exclusive option to acquire up to a 75% interest.
  • The 10,140-hectare project consists of North and West Dufferin properties.
  • Located adjacent to NexGen Energy's SW3 property and approximately 18 kilometers from Cameco's Centennial deposit.
  • Historic drill hole VR-031W3 near the site intersected 8.78% U3O8 over 33.9 meters.
  • Project is prospective for unconformity- and basement-hosted uranium mineralization near the Virgin River shear zone.

Notable Quotes

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