Myriad highlights historic study on Copper Mtn uranium

Executive Summary

• Myriad Uranium obtained a comprehensive 600‑page 1982 Bendix Field Engineering report for the Copper Mountain district, providing historic mineral endowment estimates of ~245 Mlb U₃O₈ in the control area and ~655 Mlb U₃O₈ in the broader assessment area.
• The company and its partner Rush Rare Metals hold ~70% of the control area (and a higher share of historic boreholes) and ~29% of the overall assessment area, giving them significant leverage to develop new exploration targets based on the study’s structural scoring.
• Myriad plans to integrate the historical data into its current target generation workflow and will disclose future drill‑target sets, influencing its strategic direction for Copper Mountain development.

Key Details

• Historical Report Acquired: “An Exploration Systems Approach to the Copper Mountain Area Uranium Projects, Wyoming” (Sept 1982), >600 pages, plus companion final report (Nov 1982).
• Potential Mineral Endowment – Control Area: ~245 million pounds U₃O₈ down to 600 ft depth; intermediate‑grade (100–500 ppm eU₃O₈).
• Potential Mineral Endowment – Assessment Area: ~655 million pounds U₃O₈ down to 600 ft depth.
• Ownership of Areas: Myriad & Rush hold ~70% of the control area and a higher percentage of historic boreholes; ~29% of the broader assessment area.
• Target Identification: Structural scoring highlighted several probable intermediate‑grade target zones within both the control and assessment areas, especially where drill data are lacking.
• Historical Context: Data derived from Union Pacific’s $118 M (2024 dollars) exploration program (≈2,000 boreholes, 7 historic deposits). Bendix supplemented with its own geologic, geochemical, and geophysical work.
• Geologic Highlights:
• Control area dimensions: ~12,000 ft N‑S × 16,000 ft E‑W (~17.8 km²).
• Assessment area size: ~40 sq mi (≈103 km²).
• Two mineralization environments identified – fracture‑controlled granitic/diabase settings and disseminated sandstone host in the Teepee Trail formation.
• Historical Endowment Estimates by Host Rock:
• Precambrian granite/granite‑related: ~232 Mlb (control) / ~608 Mlb (assessment).
• Eocene/Tertiary sandstones (Teepee Trail): ~13.4 Mlb (control) / ~48 Mlb (assessment).
• Caveats: Estimates are historical, not NI 43‑101 compliant resources or reserves; verification drilling required. No qualified person has yet classified them as current resources.
• Recent Drilling Insight: 2024 drill program intersected uranium below the historic “hard deck” of 600 ft (e.g., 1,495 ft depth at Canning), suggesting deeper unconformity‑related potential.
• Planned Activity: Myriad will use the Bendix data and other historic information to develop an enhanced set of exploration targets; results will be disclosed in future filings and guide the company’s exploration strategy.

Notable Quotes

“The conclusions of the 1982 studies are exciting to us… The core area of Copper Mountain has a potential uranium endowment of approximately 245 Mlb down to 600 feet… Our 2024 drilling campaign… yielded uranium findings below the hard deck, hinting at unconformity mineralization.” – Thomas Lamb, CEO, Myriad Uranium Corp.

“There is a huge amount of uranium in the neighborhood and this information will help us to vector in on it.” – George van der Walt, Consulting Geologist, Myriad Uranium Corp.