- Chemical assays reveal uranium grades up to 60% higher than probe readings at Copper Mountain.
- Deep intercepts suggest substantial potential for additional mineralization beyond historical estimates.
- The results support the high end of historical uranium estimates, indicating up to several hundred million pounds of potential resources.
Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) announced today the final chemical assay results from their Copper Mountain Uranium Project in Wyoming. The assays from 34 drilled holes displayed significantly higher uranium grades than previous gamma probe readings. Specifically, the chemical assays showed grades up to 60% higher at a 1,000 ppm cut-off, 50% higher at 500 ppm, and 20% higher at 200 ppm compared to equivalent probe grades.
The results confirm extensive high-grade uranium mineralization at the Canning Deposit, aligning with the upper range of Union Pacific's historical estimates of 15-30 million pounds of U3O8. Furthermore, the deepest intercept recorded at 1,489 feet returned a grade of 832.5 ppm U3O8, indicating considerable potential for additional mineralization beyond historical estimates, which were limited to depths of 600 feet.
Myriad's findings reinvigorate interest in Copper Mountain, suggesting the presence of world-class uranium deposits due to mineralization patterns akin to those in the Beaver Lodge deposit in the Athabasca Basin. These results bolster the company's strategy to explore and potentially expand the resource base to several hundred million pounds of uranium, as indicated by internal documents.
The company's plan of operations application has been submitted to further drill high-priority prospects, aiming to capitalize on the promising preliminary results of the deeper mineralization potential. Moving forward, Myriad plans to use chemical assays as the primary reporting method for Copper Mountain, enhancing the reliability of future resource estimates.
