Drill Results
Phenom Discovers Rare Earth and Critical Metals Deposit at Crescent Valley, Nevada
PHNM · Price
Executive Summary
- Phenom Resources announced the discovery of a significant Rare Earth Element (REE) and Critical Metals deposit on its Crescent Valley Property in Nevada, featuring near‑surface mineralized intercepts for Rubidium, Hafnium, Scandium, Neodymium and other strategic metals.
- Drill holes CVN24-02 and CVN25-04, plus a 75 m surface chip sample, returned elevated grades over a ~100 m × 150 m area; the company estimates the deposit could be up to 600 m wide, ≥200 m thick and ≥1 km long.
- Phenom plans a fully financed Phase 2 drill program (minimum ten holes) before the end of January to further delineate the target and expand IP surveying.
Key Details
- Deposit Type: Iron Oxide Copper Gold (IOCG) breccia body with appreciable REE & Critical Metals.
- Principal Metals & Grades (selected intercepts):
- Rubidium: up to 121.5 ppm (CVN24‑02, 0–99 m) – valued at US$1,083/kg.
- Hafnium: up to 6.2 ppm (CVN25‑04, 0–55 m).
- Scandium: up to 15.6 ppm (CVN25‑04, 0–22.9 m).
- Neodymium: up to 38.5 ppm (75 m chip sample).
- Intercept Summary Table (excerpt):
| Hole / Sample | From (m) | To (m) | Length (m) | Rubidium (ppm) | Hafnium (ppm) | Scandium (ppm) | Neodymium (ppm) |
|---|---|---|---|---|---|---|---|
| CVN24‑02 | 0 | 99.06 | 99.06 | 121.5 | 5.2 | 11.3 | 31.6 |
| – incl. 0–38.1 m | 0 | 38.1 | 38.1 | 160.3 | 6.1 | 8.5 | 20.8 |
| – incl. 48.77‑54.86 m | 48.77 | 54.86 | 6.09 | 168.8 | 6.1 | 17.1 | 37.9 |
| CVN25‑04 | 0 | 54.86 | 54.86 | 146.0 | 6.1 | 14.7 | 29.3 |
| – incl. 0–22.86 m | 0 | 22.86 | 22.86 | 193.1 | 6.2 | 15.6 | 30.9 |
| 75 m chip | 0 | 75.0 | 75.0 | 132.8 | 5.8 | 11.2 | 38.5 |
- Geophysical Context: 2024 IP survey (Zonge International) identified a continuous high‑chargeability anomaly coincident with the breccia body; ground magnetic data also guided drill placement.
- Estimated Deposit Dimensions: ~600 m wide (E‑W), ≥200 m thick, ≥1 km long (N‑S). Open to the north; additional IP lines required to define full strike length and pipe root.
- Property Expansion: Company has increased Crescent Valley holdings from 38 to 172 claims following the discovery.
- Phase 2 Drilling Plan: Minimum ten‑hole program, targeting depths of 300–400 ft (shallow evaluation) with full financing secured; drilling to commence before end‑January 2026.
- Additional Opportunities: The property also hosts a “Bonanza‑type” gold target; results for drill hole CVN25‑03 will be released separately.
- QA/QC: Drilling performed by Envirotech Drilling LLC; samples analyzed by ALS Global; QA/QC inserts included.
Notable Quotes
“This is a remarkable deposit discovery of size, driven from the identification of near surface REE and Critical Metals values of significant tenor… We have more than quadrupled the size of the property from 38 claims to 172 claims.” – Dave Mathewson, Director & Geological Advisor
“Others have walked over this breccia zone for years but have missed the opportunity by not analyzing for important REE and Critical Metals… The cumulative in‑situ value of the multi‑element intercepts ranges from US$277 to US$404 per tonne rock.” – Paul Cowley, President & CEO
Materiality Assessment: Material – Positive (significant discovery of strategic metals with clear economic potential and immediate follow‑up drilling plan).
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Jul 27, 2026 · 09:00