Myriad Uranium Initiates Geophysical Survey at Copper Mountain Uranium Project, Wyoming, USA

Core Insights - Myriad Uranium Corp. has initiated a ground magnetometer survey over the Canning Deposit, part of the Copper Mountain Uranium Project in Wyoming, with plans for an 84-hole exploration drill program later this summer [3][12][25] Group 1: Survey and Drilling Plans - The ground magnetometer survey will cover 571 acres with a line spacing of 25 meters, totaling 104.8 line-kilometers [2][28] - The drilling program will consist of 84 boreholes, with an average depth of 500 feet, and some holes planned to reach depths of 1,000 feet or more [15][25] - The primary goal of the survey and drilling is to convert historical uranium resources into current categories under National Instrument 43-101 [10][25] Group 2: Historical Context and Resource Estimates - The Copper Mountain Uranium Project has a significant historical resource, with estimates ranging from 15.7 to 30.1 million pounds of eU3O8, and potential targets exceeding 65 million pounds [24][26] - Historical drilling by Union Pacific in the 1970s included approximately 2,000 boreholes and the discovery of 7 uranium deposits [23][24] - The project area has seen extensive exploration and development, with Union Pacific investing approximately US$78 million (2024 dollars) [23][26] Group 3: Future Goals and Expectations - The company aims to report a maiden mineral resource estimate by the end of Q1 2025 and continue intensive drilling thereafter [14][30] - Myriad's CEO emphasized the potential for significant resource expansion and improved understanding of the project's mineralization compared to previous assessments [9][30] - The focus of the 2024 field program will be on the 'High Grade Zone' associated with the Canning Fault zone [29][30]