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 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.
ON BEHALF OF PHENOM RESOURCES CORP.
per: "Paul Cowley"
CEO & President
(604) 340-7711
This email address is being protected from spambots. You need JavaScript enabled to view it. 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.
