Nevada Organic Phosphate (CSE:NOP) has received preliminary observations from drill hole MM26-7, which was completed on the Murdock Mountain Project in Nevada, US.
The exploration target is the Upper Phosphatic Zone, a 3.4m to 7.6m interval within the Meade Peak Member, which itself comprises 28m to 40m of phosphatic siltstone and phosphorite.
Variations in the thickness of the Upper Phosphatic Zone encountered during the current drill program will be confirmed through laboratory assays.
Hole MM26-7 intersected an apparent 39m of the same Meade Peak interval. True thickness and the phosphate content of the Upper Phosphatic Zone will be confirmed by assaying.
Assays will be released as they become available.
Meanwhile, a licensed surveyor has completed surveying of the last fall’s drill holes MM25-1 through MM25-6 drill collars. The surveyor will return to survey all additional drill holes from the 2026 program once drilling is complete.
A new map will be included in an upcoming announcement to provide updated collar coordinate surveys from the 2025 drilling program and locations of the 2026 drill holes as they are completed.
Raising cash
This news comes following Nevada Organic upsizing a non-brokered private placement from C$2 million to C$4.5 million ($4.57 million) to fund the second phase of a drill program at the Murdock Mountain Project in the US.
Under the placement, 26.38 million units will be issued at C$0.18 per unit. Each unit will comprise one common share and half of a share purchase warrant, exercisable at C$0.30 for a 36-month period.
Nevada Organic Phosphate is an exploration company focused on organic sedimentary raw rock phosphate in northeast Nevada.
Write to Aaliyah Rogan at Mining.com.au
Images: Nevada Organic Phosphate
