VANCOUVER, BC / ACCESSWIRE / September 24, 2024 / Rush Rare Metals Corp. (CSE:RSH) ("Rush" or the "Company") is pleased to announce that its earn-in partner on the Copper Mountain uranium property in Wyoming ("Copper Mountain" or "the Property"), Myriad Uranium (CSE:M)(OTCQB:MYRUF)(FRA:C3Q) ("Myriad") has issued a press release outlining additional historical high-grade intervals and further insights at Copper Mountain. The full press release is available here, and was issued September 23, 2024.
Some highlights from the press release include:
A significant amount of historic grade interval data captured from 1970s-era cross section diagrams drafted by Rocky Mountain Energy (Union Pacific) relating to the Canning Deposit (Figure 1) has recently come to light and is reported. The cross sections include geological and grade data and long mineralised intervals of up to 210.5 ft and grades over 0.25% eU3O8.
Grades reported at a minimum of 0.25% eU3O8 may in some cases be considerably higher. This is because the cross sections did not distinguish grades above 0.250%. This is evidenced in the previously reported grade intervals from Anaconda (reported here) where in borehole MGCH-100, for example, the reported interval of 3750 ppm eU3O8 from 468 feet to 480 feet contains a peak grade of 6720 ppm eU3O8 over 3 feet from 471 feet to 474 feet.
The combined data has been incorporated into Myriad's 3-D modelling of Canning mineralisation and will significantly enhance targeting in Myriad's upcoming drill campaign.
Canning, which was the focus of most historical exploration hosts the largest estimated historical resource at Copper Mountain, but there are a number of other highly prospective areas within the claim area (Midnight, Mint/Allard, Knob, Bonanza, Kermac/Day, etc.) which have all shown, through historical drilling and other past exploration work, significant potential for uranium.
Within the combined data set compiled to-date, relating to 162 boreholes in the High Grade Zone and adjacent areas of the Canning Deposit, there were 271 intervals >1000 ppm eU3O8 and 862 intervals >500 ppm eU3O8 (minimum 1 foot).
CEO Thomas Lamb commented: "These cross sections have enabled us to model high-grade shells (greater than 500 ppm eU3O8) in 3-D at the northern part of Canning. We are revising our drilling to target these grade shells and where historic drilling terminated in significant mineralisation, we will drill deeper. If we are successful, some of the mineralisation we encounter may be new high grade mineralisation that was not part of Union Pacific's 1970s-era estimates which were, on their own, seen as a sufficient resource at the time to justify plans for mine development."
The drill program at Copper Mountain has commenced, and the Company will provide further updates as they become available.
Rush CEO Peter Smith commented, "Myriad continues to do an outstanding job expanding on its understanding of an already robust set of historical data at Copper Mountain, representing tens of millions in past spending and as many as 2000 historical drill holes. These newly acquired intercepts represent some of the best historical numbers we have seen yet, and this, combined with the benefit of new geophysical work and a more modern analysis of the geology, could set us up to confirm or even surpass some already sizable historical resource calculations. The drill program will hopefully start verifying and expanding on all this historical work. Moreover, the focus of this initial drill campaign, Canning, represents only one of many highly prospective zones within the claim area. We still have Midnight, Mint/Allard, Bonanza, Kermac/Day, Knob, and others to explore, with each area having been identified through historical work as an area of high interest. Rush of course benefits greatly from all these outstanding recent efforts by Myriad, maintaining a 25% interest, with various cash and share payments as well as a favourable split on early production should Myriad earn-in its full interest in Copper Mountain under our agreement. Well done Myriad, and we look forward to future updates!"
About Rush Rare Metals Corp.
Rush Rare Metals Corp. is a mineral exploration company focused on its Boxi Property located in the Province of Québec, Canada. Rush also owns the Copper Mountain Project located in Wyoming, USA, which it has optioned to Myriad Uranium Corp. Rush currently has a 100% interest in both properties. For further information, please refer to Rush's disclosure record on SEDAR+ (www.sedarplus.ca) or contact Rush by email at psmith@rushraremetals.com or by telephone at 778.999.7030, or refer to Rush's website at www.rushraremetals.com.
Rush Contacts:
Peter Smith
Chief Executive Officer
psmith@rushraremetals.com
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Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
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SOURCE: Rush Rare Metals Corp.
View the original press release on accesswire.com
