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Nevada Organic Phosphate Inc
Symbol NOP
Shares Issued 53,312,705
Close 2024-11-04 C$ 0.035
Market Cap C$ 1,865,945
Recent Sedar Documents

Nevada Organic's Nevagro drill extension ask declined

2024-11-04 17:19 ET - News Release

Mr. Robin Dow reports

NEVADA ORGANIC PHOSPHATE PROVIDES UPDATED EXPLORATION TIMELINE AND CONFIRMS ITS DEDICATION TO ENVIRONMENTALLY RESPONSIBLE MINING PRACTICES

Nevada Organic Phosphate Inc.'s wholly owned subsidiary, Nevagro, is confirming its dedication to environmentally responsible mining practices resulting in a revised timeline for the commencement of drilling activities.

On Oct. 23, Nevada Organic announced that the BLM (Bureau of Land Management) had completed its lengthy final reviews and had requested Nevada Organic to pay the reclamation bond and receive the approved exploration permit to allow drilling.

Robin Dow, chief executive officer, reports: "Due to the BLM's extended review times for permit approvals well into the sage grouse habitat restriction period that allows for drilling, the BLM advised NOP that its' application to extend its drill period beyond October 31 to November 30 had been declined. The start of drilling operations is now expected to begin mid-2025. We appreciate the continued support and patience of our investors and stakeholders during this necessary permitting phase.

"It is important to note that NOP would have two years from the date the reclamation bond fee is paid and the permit issued to find and record a discovery. Therefore, NOP will not pay the bond until closer to the time when drilling can commence.

"This project is uniquely positioned to play a pivotal role in supplying essential nutrients for global agriculture while prioritizing environmental stewardship, and we fully support the necessity of rigorous environmental oversight. While the waiting period is longer than we anticipated, we believe that adhering to these processes ultimately strengthens our project and aligns with our core values.

"This delay, while unforeseen, underscores the importance of thorough regulatory processes aimed at protecting the environment, sage grouse habitats and ensuring compliance with all relevant guidelines."

In addition to Nevada Organic's Nevagro application covering 1,813 acres, the project has quickly scaled up by adding three new applications for an additional 6,011 acres of potential phosphate resource.

The Nevagro application exploration target is believed to host a potential 10 million to 46 million tonnes ranging in grade from 3 to 15 per cent P2O5 based on an average thickness of 3.5 metres and a specific gravity of 2.6. These ranges are based on previous workers and researchers estimates, and have not been verified by Nevada Organic according to current 43-101 standards of disclosure.

The three new applications host exploration target zones of rock phosphate that have not been previously explored, and add up to an additional 218 million tonnes of P2O5 potential to the Murdock property.

The reader is cautioned that the potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

This rock phosphate project is designed to support eco-friendly agricultural practices by providing a crucial nutrient source that enhances soil health while minimizing reliance on synthetic chemical fertilizers. The project not only aims to meet growing global demand for phosphate but also prioritizes biodiversity and ecosystem protection throughout its life cycle.

Nevada Organic is dedicated to transparency and will provide regular updates on project developments including exploration activities and progress being made on environmental assessments on the three new application areas. The company invites investors and interested parties to follow its progress as it advances this exciting initiative.

About Nevada Organic Phosphate Inc.

Nevada Organic is a junior exploration company with a sedimentary rock phosphate property hosting a nearly flat-lying sedimentary bed of known phosphate mineralization in northeast Nevada.

The increasing interest in organic and sustainable agriculture practices has contributed to the demand for organic fertilizers, including those derived from rock phosphate. Organic rock phosphate is often marketed as a fertilizer that not only provides phosphorus but also contributes to overall soil health.

The issuer aims to be one of the only certified organic rock phosphate producers with large-scale potential in North America. The Murdock property is situated adjacent to a main highway and the rail head to California.

We seek Safe Harbor.

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