Phenom Reports Dobbin Gold Footprint Grows, Nevada
Rhea-AI Summary
Phenom Resources Corp. (TSXV: PHNM, OTCQX: PHNMF, FSE: 1PY0) has announced new soil sampling results from its Dobbin Gold Project in central Nevada. The gold anomaly has been extended from 900 meters to 1.3 kilometers in length, with gold values ranging from >0.1 g/t Au to 2.73 g/t Au. Additional prospecting has identified a 600-meter-long by 200-meter-wide trend of similar alteration, interpreted as a faulted southwest extension of the anomaly. Soil sampling over this new segment is complete, with assay results expected in two weeks. The anomaly is controlled by northeast-trending structures in Roberts Mountains Formation carbonates, a host for Carlin-type gold deposits. The company has also added more claims to the Dobbin Property.
Positive
- Gold anomaly extended from 900 meters to 1.3 kilometers.
- Gold values range from >0.1 g/t Au to 2.73 g/t Au.
- Identification of a potential southwest extension of the anomaly.
- Ongoing geologic mapping and sampling.
Negative
- No drilling has been conducted in the areas of the anomaly.
News Market Reaction – PHNMF
On the day this news was published, PHNMF gained 10.49%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - October 9, 2024) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to announce this recent round of soil results from sampling, the objective of which has been to expand the length of the strong northeast-trending Dobbin soil anomaly initially reported September 4, 2024. Dobbin Gold Project lies 80 kilometres (49 miles) southwest of Eureka in central Nevada. New soil sampling results extend the gold anomaly from 900 metres (3,000 ft) to 1.3 kilometres (4,300 ft) in length (see Figure 1). A large number of gold values in the anomaly assay between >0.1 g/t Au up to 2.73 g/t Au (approx. 0.09oz/ton). The system footprint may be larger still.
Prospecting and mapping have identified a 600 metre (2,000 ft) long by 200 metre (650 ft) wide trend of similar alteration (significant veining and jasperoid) which is interpreted to be a faulted off south-western extension of the gold anomaly (see Figure 1). Soil sampling has been completed over this new segment. Assays are anticipated in 2 weeks' time.
Figure 1: Dobbin Gold Soil Anomaly defined by 25m x 25m detailed soil grid sampling
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3372/226085_5a2aa258144aca37_002full.jpg
The anomalous gold zone and SW extension represented in Figure 1 are interpreted to be controlled by northeast-trending structures presumed to be subvertical, cutting through gently-dipping Roberts Mountains Formation carbonates, an important host for many Carlin-type gold deposits in central and northern Nevada.
Dave Mathewson, Director and Geological Advisor of the Company, states, "The size and strength of this surface gold soil anomaly when it was just 900 metres long is rarely found in Nevada. Now it is longer, as determined by the new results and may yet be additionally extended. Anomalies of this character and magnitude where previously found have led to significant gold discoveries and ultimately even producing gold deposits. There has, to date, been no drilling in these areas. These geochemical levels of gold and associated pathfinder elements within these permissive Roberts Mountains Formation carbonates strongly suggest the presence of a significant disseminated, carbonate-hosted Carlin-style gold deposit."
Phenom submitted the samples with QAQC standards to ALS Minerals for gold fire assay and ICP trace element analyses. The samples assayed up to 2.73 g/t gold along with strong Carlin-type pathfinder element values in arsenic, antimony and mercury. The northeast trending soil anomaly in Figure 1 is coincident with structures mapped in the field and air-photo interpretations. Mapping and sampling also indicate the widespread presence of Carlin-type system alteration assemblage of jasperoid and decalcification. Geologic mapping and sampling are ongoing on the project.
In addition, Phenom added more claims in September to increase the size of the Dobbin Property.
About Phenom Resources Corp.
Phenom has
ON BEHALF OF PHENOM RESOURCES CORP.
per: "Paul Cowley"
CEO & President
(604) 340-7711
pcowley@phenomresources.com
www.phenomresources.com
Technical disclosure in this news release has been reviewed and approved by Dave Mathewson, Director and Geological Consultant of the Company and a Qualified Person as defined by National Instrument 43-101.
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.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Phenom, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans, including ongoing mapping and sampling, future assay results and the impact thereof. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Phenom, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Phenom does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226085
FAQ
What is the latest update on Phenom Resources' Dobbin Gold Project?
What is the significance of the new soil sampling results for PHNMF?
When are the assay results for the new segment expected?
What formations host the gold anomaly in the Dobbin Gold Project?
