Myriad Uranium Terminated Arizona Breccia Pipe Option
The company has resumed full control of 6,080 acres of uranium prospects in Arizona.
Updated on Oct. 7, 2026 in Nuclear
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Myriad Uranium Corp. has terminated its option agreement with Wedgemount Resources Corp., re-assuming 100% ownership of its Arizona Breccia Pipe Project. The portfolio includes 24 prospects across the Colorado Plateau, including the Wate Pipe site.
Why it matters
The move reflects Myriad’s intent to consolidate control over its high-grade uranium assets as it moves toward further exploration. The company cited a deeper understanding of the project's district-scale potential as the driver for the ownership shift.
The Wate Pipe holds a 2015 historical inferred resource estimate of 71,000 tons at 0.79% eU3O8, totaling approximately 1.12 million lbs of uranium. Myriad plans to conduct new geophysical and radiometric surveys to define drill targets across the 6,080-acre land package.
The players
Myriad Uranium Corp.
An exploration company focused on uranium assets in the Western United States.
Wedgemount Resources Corp.
A mineral exploration entity that previously held an option on the Arizona project.
The details
The Arizona Breccia Pipe Project targets geological formations known as breccia pipes, which are vertical, cylindrical pipes of broken rock often rich in high-grade uranium. Myriad has re-acquired the State lease for the Wate Pipe and is leveraging internal expertise from geologists who participated in previous drilling campaigns during the 2000s. These methods aim to identify subsurface anomalies indicative of concentrated mineral deposits within the wider project area.
Timeline
Geologists conducted initial drilling of the pipes during the 2000s.
A historical inferred resource estimate was published in 2015.
The option agreement with Wedgemount Resources Corp. was executed on June 9, 2026.
Myriad terminated the agreement on October 7, 2026.
The Tech Race
This move marks a shift for Myriad as it pivots to develop its Arizona assets independently using legacy drilling data. The company is now repositioning itself to compete in the regional uranium search by validating historical grades against contemporary exploration standards.
The transition to 100% ownership allows Myriad to initiate new surveys immediately without third-party coordination. Local stakeholders and investors should watch for upcoming technical reports as the company attempts to reconcile historical data with new radiometric findings.
The takeaway
The return of full ownership to Myriad Uranium provides a clearer path for the company to verify its high-grade uranium holdings in Arizona. Interested parties should watch for the release of new radiometric and geophysical survey data that could validate the site's potential.
Further reading
Learn more about the latest developments in Nuclear exploration and regional resource management.
More information
Review the technical findings and corporate details in the original press release source.
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