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Silver Eagle Mines Inc. ( (TSE:NOP) ) has shared an announcement.
Nevada Organic Phosphate Inc. reported strong initial assay results from the first three drill holes at its Murdock Mountain property in Nevada, confirming the phosphate potential of the project’s Upper Phosphatic Zone. The holes returned grades of 10.23%, 10.7% and 11.2% P2O5 over true thicknesses of roughly 4.2–4.6 metres, which management characterizes as robust for an organic raw rock phosphate target where a 7–10% P2O5 range is considered realistic and desirable for their planned fertilizer applications. Executives and technical directors highlighted that the results are consistent with the company’s geological model and support its strategy of developing a new approach to phosphate fertilizer usage, while additional assays from remaining drill holes and heavy metal/contaminant tests are still pending from ALS Laboratories, which is providing ISO-accredited analytical work.
More about Silver Eagle Mines Inc.
Nevada Organic Phosphate Inc. is a Vancouver-based mineral exploration company focused on organic sedimentary phosphate deposits, with its primary activities centered on advancing the wholly owned Murdock Mountain phosphate project in Elko County, Nevada. The company is targeting raw rock phosphate suitable for organic fertilizer applications, pursuing an emerging niche in phosphate fertilizer markets that emphasizes lower-grade but naturally occurring phosphate suitable for specialized agricultural uses.
Average Trading Volume: 331,890
Technical Sentiment Signal: Buy
See more data about NOP stock on TipRanks’ Stock Analysis page.