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Drill Results Routine +

Nevada Organic Phosphate Reports Preliminary Geological Observations From Drill Hole MM26-9 at Murdock Mountain

Consistent High-Grade Drill Results and Capital Raise Extend Exploration Runway, but Revenue Remains Distant

By The Northwire Desk — AI Analysis Jun 16, 2026 · 08:30 NOP · 0.185 Nevada Organic Phosphate Inc.
Executive Summary
  • Nevada Organic Phosphate (NOP) released preliminary geological observations from drill hole MM26-9 at its Murdock Mountain property, intersecting 42.15 metres of the target Meade Peak unit.
  • Hole MM26-8 intersected 15.3 metres of the same unit but has not yet reported significant P2O5 assays; management attributes the weaker interval to local stratigraphic thinning or facies changes.
  • The drill rig is mobilizing to MM26-10, located 1.5 km southwest along strike in a previously untested area.
  • This follows the June 10 release of assay results from MM26-7, which returned 11.82% P2O5 over 6.0 metres, reinforcing lateral continuity.
  • The company recently waived a warrant acceleration provision for ~23.6 million warrants and closed a $5.5 million upsized private placement in May 2026 to fund Phase 2 drilling and working capital.
Material Impact
  • The MM26-9 intersection is geologically consistent with prior holes and management's model, confirming the continuity of the Upper Phosphatic Zone.
  • No new financial guidance, resource estimate, or commercial off-take agreement is disclosed. The update is incremental to the ongoing Phase 2 drill program.
  • The waiver of the warrant acceleration is a minor capital structure adjustment that prevents near-term dilution but does not alter the company's exploration trajectory.
  • The news reinforces the technical viability of the project but does not change the fundamental stage of the business (pre-revenue exploration).
NOP · Price
Company Overview
  • Nevada Organic Phosphate is a junior exploration company focused on the Murdock Mountain Project in Elko County, Nevada.
  • The project hosts a shallow-dipping, organic sedimentary rock-phosphate horizon spanning 6.6 km, with potential strike extension exceeding 30 km.
  • The target is the Upper Phosphatic Zone within the Meade Peak Member, characterized by high P2O5 grades (~10–12%) and low heavy-metal contaminants, positioning it for organic and regenerative agriculture markets.
  • The company recently expanded its land package by adding 6,011 acres through new prospecting applications, increasing the conceptual Exploration Target Mineral Inventory to over 200 million tonnes.
  • NOP trades on the Canadian Securities Exchange (CSE) and OTCQB Venture Market (ticker: NOPFF).
Read the original news release →

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Drill Results May 15, 2026 · 09:00

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