Myriad Uranium has secured a 75% earnable interest in the Copper Mountain Uranium Project, a site with a rich history of exploration and development. During the 1970s, Union Pacific invested an impressive US$78 million (adjusted to 2024 dollars) in this project, making significant strides in uncovering the area's potential.
Union Pacific's efforts included drilling approximately 2,000 boreholes, which led to the discovery of seven uranium deposits. They also developed a comprehensive six-pit mine plan and estimated resources ranging between 15.7 and 30.1 million pounds of eU3O8. Additionally, they projected the further potential of both known and speculated targets within the project area to exceed 65 million pounds. However, these estimates remain historical and are not yet compliant with current NI 43-101 standards.
Myriad Uranium is committed to updating these historical estimates to meet NI 43-101 standards and, if possible, surpassing them. Their initial focus will be on the 'High Grade Zone' of the Canning Deposit, which contains the largest estimated historical resources at Copper Mountain.
A crucial development in this endeavor occurred during a recent site visit. George van der Walt, a member of Myriad Uranium’s Technical Committee, and Thomas Lamb, CEO, confirmed the accuracy of key historical drill hole locations in the company's data set. This verification is expected to facilitate a more efficient confirmation of the historical resource estimates, marking a significant step forward in Myriad Uranium's strategic plan.
