Business
Myriad Uranium Reports on Historic Drilling at Copper Mountain
Vancouver, British Columbia--(Newsfile Corp. - March 5, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased t
About this update from Myriad Uranium Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - March 5, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) (\"Myriad\" or the \"Company\") is pleased to announce a compilation of significant historic eU3O8 grade intervals at its Copper Mountain project, compiled from cross-sections prepared by Anaconda Uranium (\"Anaconda\") in 1997. These cross-sections were found during the Company's ongoing review of proprietary paper-based historical data sets. The intervals confirm that there is high grade material close to the surface at Copper Mountain and give Myriad a clear path to re-evaluating the resources and confirming the feasibility of mining, taking the Company much closer to production than previously thought. The intervals relate to 82 boreholes drilled into what Anaconda called the \"High Grade Zone\" of the North Canning deposit (see Figure 3 below) by a subsidiary of Union Pacific Railway, Rocky Mountain Energy (\"RME\"). RME had intended North Canning to be the centre of a three-pit mine they were planning in the late 1970s. The cross-sections include a significant number of high-grade intervals (up to 0.385% eU3O8) and many long, mineralized intervals (up to 291 feet). Grage-Thickness (GT) products range from the minimum selected 0.3 ft% (equivalent to 0.1% over 3 feet) to 11.55 ft% (represented by 0.05% eU3O8 over 231 feet). Highlights are set out at Table 1 below and a full listing of results from the boreholes are available here. Within the data set compiled, there are 56 intervals >0.1% eU3O8 and 8 intervals >0.2% eU3O8. It should be borne in mind that this represents only a small portion of the total area of data collection for one of the project areas. Myriad's CEO Thomas Lamb commented, \"These are exciting cross-sections. They demonstrate that there is significant high-grade uranium at Copper Mountain and they provide us with a roadmap to fast-track the required confirmation work. These particular boreholes were drilled in the High Grade Zone at an important structural boundary of the North Canning area, adjacent to the more moderate-grade zones of the main North Canning deposit area. Union Pacific had intended the North Canning deposit to be a moderate-grade bulk-tonnage central pit for a large mining operation. They had conducted considerable test work and built a heap leach pad before discon...