Geophysical Survey Initiated At Copper Mountain Uranium Project

VANCOUVER - Myriad Uranium Corp. has initiated a ground magnetometer survey over the Canning Deposit, at the centre of the 4,206 acre Copper Mountain Uranium Project, located in Wyoming. Myriad Uranium is planning to follow up the ground magnetometer survey with an 84-hole exploration drill campaign to commence later this summer.

The principal goal of Myriad Uranium's geophysical survey program and upcoming drilling program is to convert the large historic uranium resource at Copper Mountain into current categories under National Instrument 43-101. With important insights drawn from review work since Union Pacific's drilling, Myriad's field program will also aim to re-assess the mineralisation associated with steeply dipping structures that are believed to run from surface or near-surface to a depth well beyond what was generally the maximum depth of historic drilling by Union Pacific during the 1970s, which was approximately 183 metres. These structures, and their associated fracture zones are known to host higher grades of uranium and thought to continue to considerable depth.

A team from Géophysique TMC has been deployed to carry out a ground magnetometer survey over the Canning deposit area. The aim of the survey is to delineate the aerial extent of known favourable structures and to help identify and delineate other structures with zones of intense fracturing and brecciation. Variations in magnetic intensity are expected to arise from several factors including varying degrees of alteration and weathering in the fracture stock (slight to total destruction of magnetic minerals), the presence of mafic dikes and metasedimentary xenoliths of Precambrian age scattered throughout the area, varying depths of burial of quartz monzonite (horsts, grabens and tilted blocks), or variations in primary concentrations of magnetic minerals in the stock, all of which could demonstrate an association with uranium mineralisation.

The survey is planned to cover an area of approximately 231 hectares (571 acres) at 25 m line spacing in the north-south orientation (with 250 m east-west tie lines) along a total of 104.8 line-km.