- Myriad Uranium (CSE:M) released new chemical assay results (U3O8) from eight boreholes drilled in late 2024 at the Copper Mountain Uranium Project, confirming extensive high-grade uranium mineralization at the Canning Deposit
- The chemical assays indicate that using a 1,000 ppm cut-off, the U3O8 grades are on average 50 per cent higher than the previously reported eU3O8 grades over the same intervals
- With a 200 ppm cut-off, the grades are on average 24 per cent higher. These increases are consistent with assays from the first 20 boreholes reported by the company
- Myriad Uranium stock (CSE:M) last traded at $0.27
Myriad Uranium (CSE:M) released new chemical assay results (U3O8) from eight boreholes drilled in late 2024 at the Copper Mountain Uranium Project, confirming extensive high-grade uranium mineralization at the Canning Deposit. These results have been compared against previously reported equivalent spectral gamma probe uranium results (eU3O8), revealing significant secular disequilibrium in the system.
The chemical assays indicate that using a 1,000 ppm cut-off, the U3O8 grades are on average 50 per cent higher than the previously reported eU3O8 grades over the same intervals. With a 200 ppm cut-off, the grades are on average 24 per cent higher. These increases are consistent with assays from the first 20 boreholes reported by the company in March 2025.
Highlights of the chemical assay results
- CAN0001: 3,388 ppm U3O8 over 73.15 cm
- CAN0010: 1,205 ppm U3O8 over 109.72 cm
- CAN0010: 909 ppm U3O8 over 2.46 metres
- CAN0010: 2,131 ppm U3O8 over 1.03 metre
- CAN0010: 1,638 ppm U3O8 over 1.76 metre
- CAN0013: 1,689 ppm U3O8 over 3.59 metres
- CAN0020: 1,408 ppm U3O8 over 70.10 cm
- CAN0024: 3,031 ppm U3O8 over 3.23 metres
The boreholes represent a combination of diamond core and reverse circulation drilling, aimed at verifying mineralization identified in drilling by Union Pacific in the late 1970s and testing a grade shell model (above 0.05 per cent eU3O8) created from cross-sections. Drilling was conducted by Harris Exploration using two diamond core rigs producing HQ (63.5 mm) core diameter and 96 mm in hole diameter, and one reverse circulation rig using a 140 mm hammer bit. Core samples were packed into trays and transported to Riverton for further processing. RC hole runs were drilled at 5 ft intervals and split on site by a rig-mounted cyclone splitter to produce two representative samples, which were then transported to Riverton for further processing.
Myriad Uranium Corp. continues to advance its exploration efforts at the Copper Mountain Uranium Project, with further results expected to provide additional insights into the high-grade uranium mineralization at the Canning Deposit.
“Confirmed grades average significantly higher than the equivalent gamma probe uranium grades and suggest Union Pacific may have taken a conservative approach to accounting for disequilibrium at Copper Mountain,” Thomas Lamb, CEO of Myriad Uranium, said in a news release. “This may have positive implications for historic resource estimates and grades. I mentioned in our previous release relating to assays that it is possible a significant volume of uranium mineralisation was not detected at Copper Mountain by the 1970-era gamma probes, which would be very exciting for the project. But also potentially very significant is what has been emphasised by this group of assays, which is that higher-grade zones are on average 50 per cent more uraniferous than previously thought. This could have supportive implications for future resource estimation and mine planning, for example. However, this must be treated as speculation.”
Myriad Uranium Corp. holds an earnable 75 per cent interest in the Copper Mountain Uranium Project in Wyoming. The project is host to several known uranium deposits and historic uranium mines, including the Arrowhead Mine.
Myriad Uranium stock (CSE:M) last traded at $0.27 and has climbed 10 per cent since this time last year.
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(Top image: Map of completed boreholes and boreholes with reported chemical assays via Myriad Uranium Corp.)