Phenom Resources Corp. (OTCQX: PHNMF) has initiated drilling operations at its Crescent Valley Gold Project in Nevada, located 22 km southwest of Carlin. The project features what's described as Nevada's largest known quartz vein system, situated within the Northern Nevada Rift near the Carlin Gold Trend. According to Director Dave Mathewson, the project shares similarities with the historic SLEEPER deposit, which was operated by AMAX Gold (1986-1996) and achieved the world's lowest gold production cost of $103/oz in 1988. The site contains multi-event, silica-healed hydrothermal breccias, with veins showing characteristics typical of above-boiling zones. This drilling campaign follows an unsuccessful attempt in October 2024, which was terminated early due to contractor underperformance.
Phenom Resources Corp. (OTCQX: PHNMF) ha avviato le operazioni di perforazione presso il suo Crescent Valley Gold Project in Nevada, situato a 22 km a sud-ovest di Carlin. Il progetto presenta quello che viene descritto come il più grande sistema di vene di quarzo conosciuto in Nevada, posizionato all'interno della Northern Nevada Rift vicino al Carlin Gold Trend. Secondo il direttore Dave Mathewson, il progetto presenta somiglianze con il deposito storico SLEEPER, gestito da AMAX Gold (1986-1996), che nel 1988 ha raggiunto il costo di produzione dell'oro più basso al mondo, pari a 103 $/oz. Il sito contiene brecce idrotermali guarite dalla silice, formatesi in più eventi, con vene che mostrano caratteristiche tipiche delle zone sopra il punto di ebollizione. Questa campagna di perforazione segue un tentativo non riuscito nell'ottobre 2024, interrotto prematuramente a causa della scarsa performance del contraente.
Phenom Resources Corp. (OTCQX: PHNMF) ha iniciado operaciones de perforación en su Crescent Valley Gold Project en Nevada, ubicado a 22 km al suroeste de Carlin. El proyecto cuenta con lo que se describe como el sistema de vetas de cuarzo más grande conocido en Nevada, situado dentro de la Northern Nevada Rift cerca de la Carlin Gold Trend. Según el director Dave Mathewson, el proyecto tiene similitudes con el histórico depósito SLEEPER, operado por AMAX Gold (1986-1996), que alcanzó el costo de producción de oro más bajo del mundo en 1988, con 103 $/oz. El sitio contiene brechas hidrotermales curadas con sílice en múltiples eventos, con vetas que muestran características típicas de zonas por encima del punto de ebullición. Esta campaña de perforación sigue a un intento fallido en octubre de 2024, que se terminó anticipadamente debido al bajo rendimiento del contratista.
Phenom Resources Corp. (OTCQX: PHNMF)는 네바다주 카를린에서 남서쪽으로 22km 떨어진 Crescent Valley Gold Project에서 시추 작업을 시작했습니다. 이 프로젝트는 Northern Nevada Rift 내 Carlin Gold Trend 근처에 위치한 네바다에서 가장 큰 것으로 알려진 석영 광맥 시스템을 특징으로 합니다. 이사인 Dave Mathewson에 따르면, 이 프로젝트는 AMAX Gold가 1986년부터 1996년까지 운영했던 역사적인 SLEEPER 광산과 유사하며, 1988년 세계에서 가장 낮은 금 생산 비용인 온스당 103달러를 기록했습니다. 이 부지에는 다중 이벤트로 형성된 실리카 치유형 열수 브레시아가 있으며, 광맥은 끓는점 이상 영역의 특징을 보입니다. 이번 시추 캠페인은 2024년 10월에 시도했으나 계약자 성과 부진으로 조기 종료된 실패한 시도 이후 진행됩니다.
Phenom Resources Corp. (OTCQX: PHNMF) a lancé des opérations de forage sur son Crescent Valley Gold Project au Nevada, situé à 22 km au sud-ouest de Carlin. Le projet comprend ce qui est décrit comme le plus grand système de veines de quartz connu au Nevada, situé dans la Northern Nevada Rift près de la Carlin Gold Trend. Selon le directeur Dave Mathewson, le projet présente des similitudes avec le gisement historique SLEEPER, exploité par AMAX Gold (1986-1996), qui a atteint en 1988 le coût de production d'or le plus bas au monde, soit 103 $/oz. Le site contient des brèches hydrothermales silicifiées formées lors de plusieurs événements, avec des veines présentant des caractéristiques typiques des zones au-dessus du point d'ébullition. Cette campagne de forage fait suite à une tentative infructueuse en octobre 2024, interrompue prématurément en raison de la sous-performance du contractant.
Phenom Resources Corp. (OTCQX: PHNMF) hat Bohrarbeiten an seinem Crescent Valley Gold Project in Nevada aufgenommen, das 22 km südwestlich von Carlin liegt. Das Projekt verfügt über das größte bekannte Quarzgangsystem Nevadas, das sich innerhalb des Northern Nevada Rift in der Nähe des Carlin Gold Trend befindet. Laut Direktor Dave Mathewson weist das Projekt Ähnlichkeiten mit dem historischen SLEEPER-Lager auf, das von AMAX Gold (1986-1996) betrieben wurde und 1988 die weltweit niedrigsten Produktionskosten für Gold von 103 $/oz erreichte. Der Standort enthält mehrphasige, siliziumverheilte hydrothermale Brekzien, wobei die Gänge Merkmale aufweisen, die typisch für überkochende Zonen sind. Diese Bohrkampagne folgt auf einen erfolglosen Versuch im Oktober 2024, der aufgrund unzureichender Leistung des Auftragnehmers frühzeitig abgebrochen wurde.
Positive
Strategic location near the Carlin Gold Trend in Nevada, a prominent gold mining region
Project features Nevada's largest quartz vein system according to geological advisor
Geological similarities to SLEEPER deposit, which was historically one of the world's lowest-cost gold producers
Negative
Previous drilling attempt in October 2024 failed due to contractor issues
Current drilling represents a delayed start to exploration program
Project is still in early exploration phase with no proven reserves
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2025) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to announce that drilling has commenced on the Company's Crescent Valley Gold Project, 22 km (13 miles) southwest of Carlin, Nevada. The Crescent Valley Gold Project represents a high-grade, bonanza-vein gold prospect strategically located within the Northern Nevada Rift flanking the southwest fringe of the Carlin Gold Trend in Northern Nevada.
Dave Mathewson, Director and Geological Advisor to the Company, states, "The Crescent Valley Project represents the core portion of the largest quartz vein system in Nevada that I am aware of. The project has a setting remarkably similar to that of the SLEEPER deposit located in Humboldt County, Nevada. The SLEEPER Mine was a high-grade gold mine operated by AMAX Gold from 1986-1996 and was considered the lowest cost gold producer in the world in 1988 at $103/oz because of its open pit mined Bonanza vein and wall-rock gold grades which, combined, averaged 0.48 opt Au."
The range-front/margin vein system is a zone of multi-event, silica-healed, hydrothermal breccias. Portions of the veins display minor repetitive banding, coarsely-bladed calcite, and quartz pseudomorphs of the calcite, within larger zones of phreatic-type brecciation that typically represent above-boiling zones of hydrothermal fluids and also above the prospective deposition levels of gold.
On the attempted drilling in October 2024, the contractor chosen then underperformed, so the program terminated early after two short hole attempts. It was not until now that our preferred drill contractor was available.
About Phenom Resources Corp. Phenom has 100% interest in the Carlin Gold-Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada and Highway I-80 which hosts the Carlin Vanadium deposit, North America's largest highest grade primary vanadium resource. The Project lies within the prolific Carlin Gold Trend. Approximately 9 million ounces comprised of multiple gold deposits, including past producing mines, are present near the Phenom property (5-15km). The Company has options on three gold projects in Nevada, the King Solomon and Dobbin Properties which are Carlin Gold-type targets and the Crescent Valley Property.
Technical disclosure in this news release has been reviewed and approved by Dave Mathewson, a Qualified Person as defined by National Instrument 43-101, director and Geological Consultant of the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
What is the location of Phenom Resources' (PHNMF) Crescent Valley Gold Project?
The Crescent Valley Gold Project is located 22 km (13 miles) southwest of Carlin, Nevada, within the Northern Nevada Rift near the Carlin Gold Trend.
Why is PHNMF's Crescent Valley Project compared to the SLEEPER deposit?
The project has similar geological settings to SLEEPER, which was operated by AMAX Gold from 1986-1996 and was the world's lowest-cost gold producer in 1988 at $103/oz.
What happened with Phenom Resources' previous drilling attempt in October 2024?
The October 2024 drilling program was terminated early after two short hole attempts due to contractor underperformance.
What are the geological characteristics of PHNMF's Crescent Valley Project?
The project features multi-event, silica-healed hydrothermal breccias, with veins showing repetitive banding, coarsely-bladed calcite, and quartz pseudomorphs within larger zones of phreatic-type brecciation.
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