Nevada Organic Phosphate is focusing its efforts on its flagship Murdock Mountain property in Nevada, USA. The project covers 733.7 hectares from the initial permit and three further prospecting permit applications, which cover an additional 2,432.6 ha. A well-known phosphate-bearing formation has been identified on the property, which is the focus of ongoing geological investigations and drilling. Historical trenching in the phosphate bed showed an average thickness of 3.4 m and phosphate content of 14.9%. Phosphate deposits tend to be stratiform, have consistent grade and can extend for tens or hundreds of kilometers laterally, which helps to make a potential deposit economical to extract.
Indicative assays from the previous drilling program confirmed the lateral continuity of the phosphate bed, grades exceeding 10% P2O5, low impurities and an exploration target mineral inventory (ETMI) over the entire 3,166.3 ha property of 200-220 million tons grading 3-15% P2O5. Nevada Organic Phosphate endeavours to demonstrate this vast mineral potential through drilling and further exploration work. The chemical composition of the phosphate rock makes it attractive for organic farming, and the project’s proximity to key markets helps its
Investment Highlights
- Nevada Organic Phosphate Inc. (“NOP”, or “Company”) is advancing its f lagship Murdock Mountain project, a phosphate project located in Nevada, USA, with significant resource potential.
- Resource potential: The exploration target mineral inventory (ETMI) over the 3,166.3 ha project area is estimated at 200-220 million tons grading 3-15% P2O5. Initial drill results have returned grades exceeding 10% P2O5 and exhibit favourable chemistry.
- Exploration news flow: Results from ongoing drilling, exploration work and permit applications can be expected over the weeks and months ahead. Positive results will be supportive of the share price.
- Structural advantage: The phosphate rock at Murdock Mountain has low impurities and a multi-nutrient chemistry, making it ideal for organic farming. The project’s location close to key markets gives it a cost advantage due to low freight costs. Experienced Management Team: The team at NOP has a clearly formulated strategy to advance Murdock Mountain, has successfully implemented its plans and its interests are closely aligned with those of shareholders due to insider ownership of the firm.
- We are initiating coverage with a positive outlook for the company over the next 12-month period with a target price of $0.64.
