October 23, 2024 9:25 AM EDT | Source: Phenom Resources Corp.
Vancouver, British Columbia–(Newsfile Corp. – October 23, 2024) – Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) (“Phenom” or the “Company”) is pleased to announce the commencement of drilling at the Crescent Valley Gold Project, located 22 km (13 miles) southwest of Carlin, Nevada. This project is a promising high-grade, bonanza-vein gold prospect strategically situated within the Northern Nevada Rift, near the Carlin Gold Trend in Northern Nevada.
Dave Mathewson, who serves as the Director and Geological Advisor to the Company, comments, “The Crescent Valley Project represents the core portion of one of the largest quartz vein systems in Nevada. The geological setting closely resembles that of the SLEEPER deposit in Humboldt County, Nevada. The SLEEPER Mine was recognized as the lowest cost gold producer globally in 1988 due to its high-grade gold production from open-pit Bonanza vein and wall-rock gold grades averaging 0.48 opt Au.”
This vein system at the project site is characterized by multi-event, silica-healed, hydrothermal breccias. Certain portions of the veins show repetitive banding, calcite formations, and quartz pseudomorphs of calcite, within larger zones of hydrothermal fluid activity indicating prospective gold deposition levels.
About Phenom Resources Corp.
The Company holds a 100% interest in the Carlin Gold-Vanadium Project, situated in Elko County, near the town of Carlin and Highway I-80. This project hosts the Carlin Vanadium deposit, the largest primary vanadium resource in North America. Additionally, the Project is located within the prolific Carlin Gold Trend in close proximity to approximately 9 million ounces of gold deposits from various past-producing mines. Phenom also holds options on three additional gold projects in Nevada, namely 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.
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