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).

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