Myriad Uranium Corp. has intersected multiple broad intervals of near-surface uranium mineralization in its ongoing Phase II drill program at the Gem deposit, part of the Copper Mountain Uranium Project in central Wyoming.

The company completed three drill holes at Gem for a total of 507 metres (1,663 feet) of drilling. Across those three boreholes, 21 mineralized intervals exceeded the 100 ppm equivalent uranium (eU3O8) threshold. The longest mineralized interval returned 34.90 metres at 210 ppm eU3O8 from 10.65 metres downhole in hole GEM0002DD, which included a peak grade of 1,368 ppm eU3O8 at a depth of 16.1 metres.

Gem is one of six tightly-clustered historical uranium deposits within the district and hosts a historical resource estimate of 1.44 million pounds of eU3O8 contained in 3.07 million tonnes at an average grade of 234 ppm eU3O8, compiled in 1979. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and Myriad is not treating it as such.

The current Phase II drilling campaign is designed to verify mineralization that underpins historical estimates and generate modern data to support a future maiden mineral resource estimate for the property. Myriad will complete formal laboratory assays to verify the preliminary radiometric results from the three boreholes using standard QA/QC protocols.

The reported eU3O8 grades are preliminary radiometric estimates derived from downhole gamma logging conducted by Century Geophysical using its OREGRADE system. These estimates are not chemical assays and remain subject to laboratory verification.

“We are delighted with these results. Mineralisation at Gem is indeed near-surface and intervals so far are long with excellent grades. The longest mineralized interval is 34.90 metres (114.5 feet) at 210 ppm eU 3 O 8 from 10.65 m in GEM0002DD, with grades of up to 1,368 ppm eU 3 O 8 .”

— Thomas Lamb, CEO

Myriad secured 100% ownership of the Copper Mountain project following the completion of a statutory plan of arrangement with Rush Rare Metals Corp.

Read the full announcement: Myriad Uranium Announces Further Phase II Drill Results from Copper Mountain