Business
Orano's In-Situ Recovery Program Bodes Well for Myriad's Projects
Vancouver, British Columbia--(Newsfile Corp. - April 4, 2023) - 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. - April 4, 2023) - MYRIAD URANIUM CORP. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) (\"Myriad\" or the \"Company\") is pleased to advise, in potentially transformative news for Myriad, that Orano has announced that it will invest over C$115 million in formal in-situ recovery (ISR) testing at its Imouraren project in the prolific Tim Mersoï Basin, Niger[1]. Imouraren is Africa's largest uranium deposit, and the world's second largest, at 384 Mlbs eU3O8. If successful, the application of ISR to these deposits could be a game changer, as ISR is the uranium industry's leading low-cost production method globally, but has hitherto not been used in Niger. The Arlit Fault, which hosts Imouraren and is considered to control mineralisation throughout the Tim Mersoï Basin, runs directly into Myriad's Agebout licence. There, approximately 15 km north of Imouraren, it intersects with part of the important Madaouela Fault system which hosts Goviex's 100 Mlbs eU3O8 Madaouela deposit. Myriad calls the area around the intersection of the Arlit and Madaouela faults \"Imouraren North\". See Figure 1 below. Figure 1 - Imouraren North and Neighbours Imouraren North has never been properly explored. Orano's predecessor Areva had planned an extensive drill program for the area, entailing approximately 65 boreholes, but then the 2011 Fukushima Daiichi accident intervened. Now Myriad, which holds a 100% option interest in Agebout, will take up the task. Myriad possesses Areva's historic regional exploration data for Agebout, including airborne geophysics, radiometry, mapping, and 39 boreholes. However, most of this work was conducted in the eastern part of Agebout, away from Imouraren North. \"Since day one this intersection of key fault structures has been a high priority target area within our land package of over 1,800 square kilometres,\" stated Thomas Lamb, Myriad's CEO. \"We know that Areva planned to test it intensively for roll-front sandstone deposits like Imouraren, but withdrew from all exploration in Niger before it could start the program. We also know that since Global Atomic's high grade Dasa discovery, geologists have been keen to test Imouraren North and other areas within Myriad's licences, since Athabasca-like high grade may be found at deeper strata along important fault boundaries. Now Myriad get...