Phenom Resources has initiated drilling operations at its Crescent Valley Gold Project, located 22 km southwest of Carlin, Nevada. The project represents a high-grade, bonanza-vein gold prospect within the Northern Nevada Rift near the Carlin Gold Trend. According to Director Dave Mathewson, the project contains Nevada’s largest known quartz vein system and shares similarities with the SLEEPER deposit, which was operated by AMAX Gold from 1986-1996 as the world’s lowest-cost gold producer at $103/oz. The site features multi-event, silica-healed hydrothermal breccias with characteristics typical of above-boiling zones of hydrothermal fluids.
Positive
- Strategic location near the Carlin Gold Trend in Nevada
- Project contains largest quartz vein system in Nevada
- Similar geological setting to successful SLEEPER deposit
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 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
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.
About Phenom Resources Corp.
Phenom has
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227534
FAQ
Where is Phenom Resources’ (PHNMF) Crescent Valley Gold Project located?
The Crescent Valley Gold Project is located 22 km (13 miles) southwest of Carlin, Nevada, within the Northern Nevada Rift.
What are the geological similarities between PHNMF’s Crescent Valley project and the SLEEPER deposit?
Both sites share similar geological settings, with the SLEEPER deposit having been a high-grade gold mine that operated as the world’s lowest-cost gold producer at $103/oz in 1988.
What type of mineralization is present at Phenom Resources’ (PHNMF) Crescent Valley Project?
The project features multi-event, silica-healed hydrothermal breccias with veins showing minor repetitive banding, coarsely-bladed calcite, and quartz pseudomorphs within zones of phreatic-type brecciation.
Insight:
Strategic Location and Geological Similarities
The Crescent Valley Gold Project’s strategic location near the Carlin Gold Trend in Nevada provides it with significant potential for high-grade gold prospects. Additionally, its geological similarities to the successful SLEEPER deposit highlight the promising nature of the project and its potential for future success.
Mineralization Characteristics
Understanding the mineralization characteristics at the Crescent Valley Project, such as the presence of silica-healed hydrothermal breccias and veining patterns, can provide valuable insights into the deposit’s formation and potential continuity of mineralization. These features play a crucial role in assessing the economic viability of the project.
Phenom Resources has initiated drilling operations at its Crescent Valley Gold Project, located 22 km southwest of Carlin, Nevada. The project represents a high-grade, bonanza-vein gold prospect within the Northern Nevada Rift near the Carlin Gold Trend. According to Director Dave Mathewson, the project contains Nevada’s largest known quartz vein system and shares similarities with the SLEEPER deposit, which was operated by AMAX Gold from 1986-1996 as the world’s lowest-cost gold producer at $103/oz. The site features multi-event, silica-healed hydrothermal breccias with characteristics typical of above-boiling zones of hydrothermal fluids.
Positive
- Strategic location near the Carlin Gold Trend in Nevada
- Project contains largest quartz vein system in Nevada
- Similar geological setting to successful SLEEPER deposit
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 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
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.
About Phenom Resources Corp.
Phenom has
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227534
FAQ
Where is Phenom Resources’ (PHNMF) Crescent Valley Gold Project located?
The Crescent Valley Gold Project is located 22 km (13 miles) southwest of Carlin, Nevada, within the Northern Nevada Rift.
What are the geological similarities between PHNMF’s Crescent Valley project and the SLEEPER deposit?
Both sites share similar geological settings, with the SLEEPER deposit having been a high-grade gold mine that operated as the world’s lowest-cost gold producer at $103/oz in 1988.
What type of mineralization is present at Phenom Resources’ (PHNMF) Crescent Valley Project?
The project features multi-event, silica-healed hydrothermal breccias with veins showing minor repetitive banding, coarsely-bladed calcite, and quartz pseudomorphs within zones of phreatic-type brecciation.
Insight:
Strategic Location and Geological Similarities
The Crescent Valley Gold Project’s strategic location near the Carlin Gold Trend in Nevada provides it with significant potential for high-grade gold prospects. Additionally, its geological similarities to the successful SLEEPER deposit highlight the promising nature of the project and its potential for future success.
Mineralization Characteristics
Understanding the mineralization characteristics at the Crescent Valley Project, such as the presence of silica-healed hydrothermal breccias and veining patterns, can provide valuable insights into the deposit’s formation and potential continuity of mineralization. These features play a crucial role in assessing the economic viability of the project.
