Highlights:Newly found and reviewed historical data report historical uranium resources between 15.7 million pounds and 30.1 million pounds eU308 at Copper Mountain (with different reports focusing on
Vancouver, British Columbia-- - MYRIAD URANIUM CORP. is pleased to report on historical resource estimates contained in a trove of recently-purchased data relating to the Copper Mountain Uranium Project in Wyoming, USA. This should be considered an interim report because the data review is ongoing. Myriad holds an option to earn up to 75% of the project from Rush Rare Metals Corp. . Currently, the project comprises 110 mineral claims aggregating 1,911 acres .
A review by Neutron Energy in 2008 attempted to summarize all the resource estimates to that date and provided an apt summary of the positive prospects for Copper Mountain while also effectively noting the caution that must be applied: While Myriad has determined that the historical estimates which follow are relevant to the Copper Mountain Project area and are reasonably reliable given the authors and circumstances of their preparation, and are suitable for public disclosure, readers are cautioned to not place undue reliance on these historical estimates as an indicator of current mineral resources or mineral reserves at the project area.
The RMEC report states that the Canning zone was largely defined on 200-foot centers. Drilling of the test pit area at the west end of the Canning zone to 100-foot centres was nearly completed as at the date of the report. Fluor's goals were stated as: correction for"disequilibrium"; construction of a three-dimensional dowel-rod model; geostatistical structural analysis; determination of global grade-tonnage curves; creation of a computerized block model: and development of a bulk sampling program.
Fluor estimated the following resources for the"Canning Area" using DFN assay data to define tons and grades at a cut-off of 0.01% U3O8: He also states that: "The heap leach mining option appears to be economically viable at this time . This conclusion is based upon data contained in the Fluor reserve study and the metallurgical studies conducted by CSMRI. In order to advance the project in this direction the following steps should be undertaken: A bulk sample should be obtained from the Canning deposit. This will enable metallurgical and process design parameters to be firmly established.
Limitations of the estimates discussed in the Liller Report include that the nature of the mineralisation at Copper Mountain makes estimation from drill data less reliable than other deposit types and that the"delayed fission neutron" factor used in some cases to calculate grades is somewhat controversial, in that the approach is viewed by some experts as too conservative. However, Mr.
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