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Itafos Inc. submits an updated technical report for the Idaho phosphate fertilizer project







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Itafos Inc. has announced that it has submitted an updated technical report for Itafos’ Conda, a vertically integrated phosphate fertilizer project in Idaho. The Conda Technical Report demonstrates increased mineral reserves and the potential for continued operations of the Conda Project until 2037.

The Conda Technical Report, entitled ‘NI 43-101 Technical Report Itafos Conda Project Idaho, USA’, effective July 1, 2023, was prepared for Itafos by WSP USA Inc. WSP in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101).

Highlights of the Technical Report for Conda Project:

  • The mine schedule shows ore production for the Conda project through 2037.
  • The mineral resource estimate for Husky1-South Maybe Canyon (H1SMC) and North Dry Ridge (NDR) (collectively H1/NDR) increased from 38.1 million tonnes (dry) to ~24.3% – ~27.0% P2O5 up to 40.5 million tons (dry) at ~24.2% – 26.7% P2O5.
  • Total estimated mineral reserves for Conda increased from 14.4 million tonnes (dry) to ~26.6% P2O5 (as of July 1, 2019) to 33.7 million tons (dry) at ~25.0% P2O5 (as of July 1, 2023).
  • The Rasmussen Valley Mine (RVM) block model did not change based on the results of the reconciliation between the 2019 model estimates and production results through the effective date of the Conda Technical Report (July 1, 2023). The estimated remaining mineral resource after the July 2023 effective date is 5.9 million tonnes (dry) at ~25.9% P2O5. The estimated remaining mineral reserve after the effective date of July 1, 2023 is 4.3 million short t (dry) at ~26.0% P2O5.

David Delaney, the company’s CEO, commented: “Conda’s updated technical report validates and updates the proven and probable reserve estimates that support the H1/NDR project with a proven mine life through 2037. After the Notice to Proceed in May 2023, we have been diligently engaged in capital activities associated with the H1/NDR project, with ore recovery in the H1/NDR expected to commence in late 2024. The Conda Technical Report and associated capital activities are the culmination of our strategic objective to extend the life of Conda’s mine.”



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