Refined Metals Corp Announces 2023 Simard Exploration Program
Rhea-AI Summary
Refined Metals Corp. (OTC: RFMCF) has announced an exploration program for 2023 on its 100% owned Lac Simard Lithium property in Quebec, covering 5,571 hectares. The program aims to verify previously reported mineralization and explore pegmatites. Activities include ground sampling, prospecting, trenching, and geophysical surveying—expanding on a 2022 survey that identified high magnetic targets. CEO Aman Parmar stated that this initial campaign will lay the groundwork for an extensive drilling program later in the year, leveraging historical results to effectively target areas of interest.
Positive
- Initiation of a 2023 exploration program on the Lac Simard Lithium property.
- Use of data from the program to facilitate future exploration work.
- CEO's positive outlook on the potential for extensive drilling based on historical and adjacent results.
Negative
- None.
News Market Reaction – RFMCF
In the trading session that priced this news, RFMCF gained 23.13%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, British Columbia, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Refined Metals Corp. (CSE: RMC) (OTC: RFMCF) (FRA: CWA0) (the “Company” or “Refined”) is pleased to announce its plan for a 2023 Exploration Program (“Program”) on its
Figure 1 - Simard Property Location
The Program will consist of ground sampling of known pegmatites, prospecting and trenching, and ground geophysical surveying. The known pegmatites have been documented on various islands around Simard Lake, around the lake shores, and on the southeastern part of the property. The southeastern area of the property has favourable geology for the discovery of lithium pegmatites which will be further explored during the prospecting and trenching. A geophysical survey that was previously conducted in 2022 identified high magnetic targets. The survey will be expanded further to identify additional target areas.
Figure 2 - Simard Property 2023 Exploration Area
Aman Parmar, Chief Executive Officer of Refined, comments, “We are keen to begin our first exploration campaign on this property, beginning in February. This program will allow the Company to collect valuable data and that will act as a strong foundation for an extensive drilling program later this year. Using historical results and results from adjacent properties will drive this and future programs to target areas of interest more effectively.”
About Refined Metals Corp.
Refined Metals Corp. is a junior mining company dedicated to identifying, evaluating and acquiring interests in mineral properties in North America. The Company’s business is currently focused on the exploration and development of the Rose Property, a prospective, exploration stage silver-gold-copper-zinc property located near Kamloops, British Columbia. The Company also holds an option to acquire a prospective, exploration stage lithium property located in the Lac Simard region of Quebec pursuant to the Option Agreement. 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@refinedmetalscorp.com
Forward-Looking Statements
The CSE has neither approved nor disapproved the information contained herein.
Graphics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/23ca0d09-4757-4516-853d-5d3c32554d8e
https://www.globenewswire.com/NewsRoom/AttachmentNg/418dd190-a6da-49a8-ac8e-b5e1d905a0fa
