Myriad Uranium Reports Chemical Assays on 20 Copper Mountain Boreholes. Confirmed U3O8 Grades Are 20% Higher on Average than Previously Reported Gamma Grades.

Core Insights - Myriad Uranium Corp. has reported that the chemical assay grades of U3O8 from 20 boreholes at the Copper Mountain Uranium Project are, on average, 20% higher than previously reported gamma probe results, indicating significant uranium mineralization [2][4][31] - The results suggest the presence of extensive higher-grade uranium mineralization that was previously undetected, which may have positive implications for historical resource estimates [4][5][23] Summary by Sections Company Overview - Myriad Uranium Corp. holds a 75% interest in the Copper Mountain Uranium Project in Wyoming, which has a history of uranium mining and exploration, including significant investment by Union Pacific in the late 1970s [31][32] - The project area has seen extensive drilling, with approximately 2,000 boreholes completed, indicating substantial exploration potential [31] Recent Developments - The company announced the results of chemical assays from 20 boreholes, confirming high-grade uranium mineralization at the Canning Deposit [2][4] - The average U3O8 grades from the chemical assays are 20% higher than the previously reported equivalent spectral gamma probe results, indicating a potential disequilibrium in the uranium system [2][4][23] Technical Insights - The assays revealed that many intervals previously thought to contain low uranium concentrations based on gamma probe results actually have significantly higher concentrations, which could lead to a reassessment of the project's resource potential [4][5] - The highest grade reported so far is 8,325 ppm U3O8, an increase from the previously reported 8,060 ppm [7] Future Actions - Myriad plans to expand its drilling and sampling program to include intervals previously excluded as "low-grade" based on gamma probe results, with additional assays from 14 remaining boreholes pending [4][5] - The company is considering the implications of the new assay results on historical estimates and will conduct further analyses to understand the causes of the observed disequilibrium [4][23]