Phenom Reports on Drilling and Its Plans to Resume at Crescent Valley Gold Project, Nevada
Phenom Resources (OTCQX: PHNMF) provided an update on its drilling activities at the Crescent Valley Gold Project in Nevada. The first hole of a planned three-hole program was terminated at 830 ft due to difficult ground conditions and did not yield significant gold mineralization.
The company plans to resume drilling by the end of August, focusing on two key opportunities: low sulfidation bonanza-vein-type gold and an Iron oxide copper gold (IOCG) prospect with rare earth metals. The property features a 5-6-kilometer-long quartz vein system with veins up to 30 meters thick, and an IOCG setting with extensive magnetite veining and rare earth elements, including valuable components used in EV magnets and electronics.
Phenom Resources (OTCQX: PHNMF) ha fornito un aggiornamento sulle sue attività di perforazione presso il Crescent Valley Gold Project in Nevada. Il primo foro di un programma previsto di tre è stato interrotto a 830 piedi a causa di condizioni del terreno difficili e non ha prodotto una mineralizzazione significativa di oro.
L'azienda prevede di riprendere la perforazione entro la fine di agosto, concentrandosi su due opportunità chiave: oro tipo vena bonanza a bassa solfidazione e un prospetto Iron oxide copper gold (IOCG) con terre rare. La proprietà presenta un sistema di vene di quarzo lungo 5-6 chilometri con vene spesse fino a 30 metri, e un contesto IOCG con estese vene di magnetite ed elementi di terre rare, inclusi componenti preziosi utilizzati nei magneti per veicoli elettrici e nell'elettronica.
Phenom Resources (OTCQX: PHNMF) proporcionó una actualización sobre sus actividades de perforación en el Proyecto de Oro Crescent Valley en Nevada. El primer pozo de un programa planificado de tres fue detenido a 830 pies debido a condiciones difíciles del terreno y no produjo mineralización significativa de oro.
La compañía planea reanudar la perforación a finales de agosto, enfocándose en dos oportunidades clave: oro tipo veta bonanza de baja sulfidación y un prospecto Iron oxide copper gold (IOCG) con tierras raras. La propiedad cuenta con un sistema de vetas de cuarzo de 5-6 kilómetros de longitud con vetas de hasta 30 metros de espesor, y un entorno IOCG con extensas vetas de magnetita y elementos de tierras raras, incluidos componentes valiosos usados en imanes para vehículos eléctricos y electrónica.
Phenom Resources (OTCQX: PHNMF)는 네바다 크레센트 밸리 금 프로젝트에서의 시추 활동에 대한 업데이트를 제공했습니다. 계획된 세 개의 시추 구멍 중 첫 번째는 어려운 지반 조건으로 인해 830피트에서 중단되었으며, 유의미한 금 광물화는 발견되지 않았습니다.
회사는 8월 말까지 시추를 재개할 계획이며, 두 가지 주요 기회에 집중할 예정입니다: 저황화 보난자 금맥 유형과 희토류 금속이 포함된 철 산화물 구리 금(IOCG) 전망지입니다. 이 부지에는 최대 30미터 두께의 광맥이 있는 5-6킬로미터 길이의 석영 광맥 시스템과 광범위한 자철석 광맥 및 희토류 원소가 포함된 IOCG 환경이 특징이며, 이는 전기차 자석 및 전자제품에 사용되는 귀중한 성분들입니다.
Phenom Resources (OTCQX : PHNMF) a fourni une mise à jour sur ses activités de forage au projet aurifère Crescent Valley dans le Nevada. Le premier trou d’un programme prévu de trois a été arrêté à 830 pieds en raison de conditions de terrain difficiles et n’a pas révélé de minéralisation aurifère significative.
La société prévoit de reprendre le forage d’ici la fin août, en se concentrant sur deux opportunités clés : or de type veine bonanza à faible sulfidation et un prospect Iron oxide copper gold (IOCG) avec des terres rares. La propriété comprend un système de veines de quartz long de 5 à 6 kilomètres avec des veines atteignant 30 mètres d’épaisseur, ainsi qu’un contexte IOCG avec des veines étendues de magnétite et des éléments de terres rares, incluant des composants précieux utilisés dans les aimants pour véhicules électriques et l’électronique.
Phenom Resources (OTCQX: PHNMF) gab ein Update zu seinen Bohraktivitäten beim Crescent Valley Gold Project in Nevada bekannt. Das erste Bohrloch eines geplanten Drei-Loch-Programms wurde bei 830 Fuß aufgrund schwieriger Bodenverhältnisse abgebrochen und ergab keine signifikante Goldmineralisierung.
Das Unternehmen plant, die Bohrungen bis Ende August wieder aufzunehmen, wobei der Fokus auf zwei wichtigen Chancen liegt: Niedrigsulfid-Bonanza-Adern-Gold und einem Iron Oxide Copper Gold (IOCG)-Prospekt mit Seltenen Erden. Das Grundstück verfügt über ein 5-6 Kilometer langes Quarzadernsystem mit Adern von bis zu 30 Metern Dicke sowie ein IOCG-Setting mit umfangreichen Magnetitadern und Seltenen Erden, darunter wertvolle Komponenten, die in Magneten für Elektrofahrzeuge und Elektronik verwendet werden.
- Property hosts two promising untested opportunities: bonanza-vein-type gold and IOCG deposits
- Extensive 5-6-kilometer-long quartz vein system with veins up to 30 meters thick
- 75m of IOCG breccia exposed with consistently elevated rare earth elements valuable for EV and electronics industry
- Strong geophysical anomalies identified through IP survey suggesting potential mineralization at depth
- First drill hole terminated early at 830 ft due to difficult ground conditions and high costs
- No significant gold mineralization encountered in the first hole
Vancouver, British Columbia--(Newsfile Corp. - August 6, 2025) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") reports results and plans on its drilling at the Company's Crescent Valley Gold Project, about 22 km (13 miles) southwest of Carlin, Nevada, strategically located along the southwest fringe of the Carlin Gold Trend within the prospective Northern Nevada Rift, Nevada.
The planned three-hole program at Crescent Valley encountered difficult ground conditions on the first hole testing the quartz vein system. In spite of its planned depth of 1200 to 1500 ft and driven by persistence to complete to its planned depth because of the attractive opportunity, the hole was terminated at a depth of 830 ft due to very slow penetration rates and unacceptable costs. The Company felt it prudent to await assays before drilling resumes. Unfortunately, the first hole did not encounter significant gold mineralization.
Dave Mathewson, Company director and Geological Advisor, states, "We are not at all deterred. Crescent Valley Gold Project hosts two exceptional discovery opportunities for us, low sulfidation, bonanza-vein-type gold opportunities and an Iron oxide copper gold opportunity (IOCG) with appreciable rare earth metals. The two opportunities at Crescent Valley are both excellent and untested. Our enthusiasm remains high. We are resuming the drill program by the end of this month."
Dave Mathewson states, "There are a number of low sulfidation epithermal gold deposits in Nevada known for their very high grades in gold and silver including the famous Comstock Mine and Sleeper Mine. Comstock was so rich it served as an important funding contributor to the Union Army effort during the Civil War. Sleeper, a high-grade gold mine and Company maker for AMAX Gold from 1986-1996 was considered the lowest cost gold producer in the world in 1988 as an open-pit averaging 0.48 opt Au. I have visited and studied many of these types of deposits in Nevada. In my opinion Crescent Valley exhibits many features of this deposit type."
At Crescent Valley, the 5-6-kilometre-plus-long large range-front/margin quartz vein system is a zone of multi-event, silica-healed, hydrothermal breccias. Multiple quartz veins reach up to 30 metres thick. At and near surface, portions of the veins display repetitive banding, coarsely-bladed calcite, and quartz pseudomorphs of the calcite, within larger zones of phreatic-type brecciation that both typically represent above-boiling zones of hydrothermal fluids and also above the prospective deposition levels of bonanza gold. In preparation for drilling, the Company conducted an extensive geophysical IP survey in 2023 which identified conductivity anomalies and breaks in chargeability anomalies, suggestive of structures and quartz veining at depth. The second hole is now planned when drilling resumes in this setting.
IOCG's can be important and highly valuable concentrations of copper, gold and uranium deposits hosted within iron oxide and sulfide-bearing dominant gangue breccia assemblages also with appreciable rare earth metals. The Crescent Valley project property covers an intriguing IOCG setting that exhibits extensive magnetite veining/brecciation and rare earth elevations. On building the drill pad for this drill test, 75m of IOCG breccia was exposed and sampled. At least 15 of the rare earth elements were consistently elevated including neodymium, praseodymium, terbium, and dysprosium which are considered highly valuable due to their use in magnets for electric vehicles, wind turbines, and electronics. The Company's IP survey identified a strong funnel-shaped-configuration chargeability anomaly to depth that coincides with an existing very strong magnetic surficial anomaly now interpreted as the IOCG feeder and potentially where metal concentrations could be stronger. The suspected feeder will be tested in a third drillhole.
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, 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.
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FAQ
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