Myriad Uranium Reports Chemical Assays from Eight More Boreholes at Copper Mountain. Assays Continue to Be up to 50% Higher than Probe Grades Previously Reported.

Core Insights - Myriad Uranium Corp. has reported significant chemical assay results from eight boreholes at the Copper Mountain Uranium Project, indicating that U3O8 grades are on average 50% higher than previously reported probe grades [2][3][4] - The results suggest the presence of high-grade uranium mineralization at the Canning Deposit, with implications for future resource estimation and mine planning [4][22] Summary by Categories Chemical Assay Results - Chemical assays using a 1,000 ppm cut-off show U3O8 grades that are on average 50% higher than previously reported equivalent spectral gamma probe grades [3][4] - At a 200 ppm cut-off, the average grades are 24% higher, and at a 500 ppm cut-off, they are 43% higher [4][10] Implications for Resource Estimation - The higher grades suggest that previous estimates by Union Pacific may have been conservative, indicating that a significant volume of uranium mineralization may have been undetected by older gamma probes [4][22] - The results could lead to positive revisions in historic resource estimates and grades, which may enhance future mining operations [4][22] Borehole Highlights - Significant intervals from the latest assays include CAN0001 with 3,388 ppm U3O8 over 2.40 feet and CAN0010 with 1,205 ppm U3O8 over 3.60 feet [4][8] - Additional notable intervals include CAN0013 with 1,689 ppm U3O8 over 11.80 feet and CAN0024 with 3,031 ppm U3O8 over 10.60 feet [8][9] Geological Context - Uranium mineralization at Copper Mountain is believed to have resulted from supergene and hydrothermal enrichment processes, with the source thought to be granites from the Owl Creek Mountains [25][26] - The presence of radiometric disequilibrium indicates that uranium and its daughter products may have been mobile in the geological environment, affecting assay results [22][24]