Property lies within the Rocky Mountain Physiographic Province in southeastern Idaho, United States of America. The geologic units within the study area are generally marine sedimentary deposits that range from Pennsylvania to recent in age.

The local and project geology of the deposits of the Itafos Conda projects are generally similar in that they are structurally dominated by a series of northwest / southeast trending anticlines and synclines with thrust and normal faults disrupting the strata.

The Meade Peak Member of the Phosphoria Formation contains the phosphate ore within the Conda Projects and is overlain by the Rex Chert member and underlain by the Park City Formation. The Quaternary Alluvium is not very extensive and where present, is only about 5 ft to 20 ft thick.

The Meade Peak Member is broken into five mining zones throughout the Conda Projects where the Upper Phosphate and Lower Phosphate Zones are the primary phosphate mineralized zones. The significant mineralized zones encountered on the property are shown below:
- Upper Overburden Zone (Hanging Wall mud).
- Upper Phosphate Zone - Low/medium to high grade phosphate zone. Interbedded phosphorite, mudstone, siltstone, limestone, and shale.
- Center Interburden Zone – Shale and mudstone.
- Lower Phosphate Zone – Low to high grade phosphate zone. Interbedded phosphorite, mudstone, siltstone, limestone, and shale.
- Lower Underburden Zone (Footwall mud) ........

The phosphate ore is conventionally open pit mined by a third party operator.

Itafos mines phosphate ore at Rasmussen Valley Mine (RVM) and Lanes Creek Mine (LCM) using open pit mining methods. The open pit mining methods include mine development, phase development and production. The mine development phase includes drainage, water control and primary access. Phase development includes establishing access to the upper benches and removal of topsoil for storage and future reuse. Phase development may only be accomplished during the drier months, so preparation of a new phase is typically done in the year prior it is required for production. The mining excavations generally follow steeply dipping phosphate ore beds, which outcrop along the side slopes of valleys. This results in relatively long and narrow ultimate pits which are subdivided into phases along strike of the deposit.

Mining is performed using truck and shovel methods with strict controls to place selenium-bearing material back into previously mined pits. Blasting is limited to the harder limestone. Itafos Conda utilizes dozers with specially designed “wings” that can be extended from the dozer blade to separate the steeply dipping phosphate bed layers to minimize dilution and maximize recovery. Phosphate ore is trucked to the WV Tipple where it is stockpiled by ore type, blended and reclaimed via a tipple for train loading. Itafos Conda has engaged Kiewit Corporation (Kiewit) to perform all m ........

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