Interview with Thomas Lamb, CEO of Myriad Uranium Corp.

Our previous interview: https://www.cruxinvestor.com/posts/myriad-uranium-csem-upcoming-exploration-program-to-advance-wyoming-uranium-project-5620

Recording date: 4th September

Myriad Uranium Corporation is positioning itself as an intriguing player in the resurgent uranium market, with its Copper Mountain project in Wyoming offering a unique blend of historical data and modern exploration potential. As the nuclear industry experiences a renaissance driven by clean energy demands, Myriad's strategic approach to uranium exploration presents an opportunity for investors to gain exposure to this critical sector.

The Copper Mountain project, located in the heart of Wyoming, comes with a significant advantage - an extensive historical dataset from Union Pacific's exploration efforts in the 1970s. This data, representing an investment of approximately 117 million Canadian dollars in today's terms, includes information from 2,000 bore holes and identifies seven uranium deposits. The historical estimates suggest a potential of over 65 million pounds of uranium across the project area, providing Myriad with a substantial head start compared to many greenfield exploration projects.

Myriad's CEO, Thomas Lamb, emphasizes the company's strategy to not only validate this historical data but to expand upon it. The company plans to commence drilling within weeks, focusing on high-grade zones that were previously overlooked. Lamb explains, "We've since discovered... that the high-grade mineralization sits in almost vertical structures instead of these flat-lying pods." This insight opens up the possibility of discovering higher-grade resources that could significantly enhance the project's economic potential.

One of the key aspects of Myriad's approach is its plan to drill deeper than previous efforts. Historical drilling rarely went beyond 600 feet, but Myriad intends to explore down to 1,500 feet in some areas. This strategy could lead to the discovery of additional mineralization, potentially expanding the resource base significantly.

Despite its relatively small market capitalization, Myriad has attracted attention from sophisticated investors. The company recently completed a successful fundraising round, with plans to raise up to $5 million to finance its exploration efforts. The ability to attract investment from experienced players in the uranium sector, including a personal investment from a prominent fund manager, suggests confidence in both the project's potential and the management team's ability to execute.

However, investors should be aware of the risks associated with early-stage uranium exploration. While the historical data provides a strong foundation, Myriad still needs to validate and bring these resources up to current standards. The success of the upcoming drilling program in intercepting high-grade mineralization will be crucial in determining the project's value.

The broader uranium market context adds another layer of potential to Myriad's story. With uranium prices showing signs of recovery and long-term contract prices trending upwards, the company is well-positioned to benefit from improving market conditions. Lamb notes, "Fundamentals are great. For those of us who are lucky and have a solid project, everybody wants to talk to us."

For investors looking to gain exposure to the uranium sector, Myriad Uranium offers an intriguing proposition. The combination of extensive historical data, a focus on potential high-grade mineralization, and a strategic location in a uranium-friendly jurisdiction presents a unique opportunity. As the company advances its exploration efforts and works towards validating and expanding the historical resource, it has the potential to create significant value for shareholders in the context of a strengthening uranium market. 

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View Myriad Uranium's company profile: https://www.cruxinvestor.com/companies/myriad-uranium

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