Phenom resumes drilling at Crescent Valley

Executive Summary

• Phenom Resources Corp. has resumed drilling at its Crescent Valley gold project in northern Nevada, targeting both low‑sulphidation epithermal gold veins and an IOCG system with rare‑earth element (REE) enrichment.
• The company plans to drill two holes: one testing the quartz‑vein system identified by a 2023 induced‑polarization survey, and a second targeting a strong chargeability anomaly associated with magnetite‑rich IOCG breccia.
• Surface exposure of ~75 m of IOCG breccia showed consistent elevation of at least 15 REEs (including Nd, Pr, Tb, Dy, Hf, Rb, Sc), underscoring the project's potential for copper, gold, uranium and strategic REE commodities.

Key Details

• Project Location: ~22 km SW of Carlin, NV, on the southwest fringe of the Carlin gold trend within the northern Nevada rift.
• Geological Targets:
• Low‑sulphidation, bonanza‑vein‑type epithermal gold system (30 m thick quartz veins, phreatic brecciation).
• IOCG setting with magnetite veining/brecciation and elevated REEs.
• Survey Work: 2023 induced‑polarization (IP) geophysical survey identified conductivity anomalies and chargeability breaks suggesting deep quartz veining; a strong funnel‑shaped chargeability anomaly aligns with a surface magnetic high interpreted as the IOCG feeder.
• Drill Program: Two holes planned:
• Hole 1 – tests the quartz‑vein system within the IP‑identified anomaly.
• Hole 2 – targets the IOCG feeder zone coincident with the chargeability and magnetic anomalies.
• Surface Findings: While constructing the drill pad, ~75 m of IOCG breccia was exposed and chip‑sampled; REE assays showed consistent elevation of at least 15 elements (Nd, Pr, Tb, Dy, Hf, Rb, Sc).
• Strategic Importance: Elevated REEs are critical for electric‑vehicle motors, wind‑turbine generators, and other high‑tech applications, potentially adding significant value beyond gold and copper.

Notable Quotes

“Crescent Valley gold project hosts two exceptional discovery opportunities for us: low‑sulphidation, bonanza‑vein‑type gold opportunities and an iron oxide copper/gold opportunity with appreciable rare earth metals.” – Dave Mathewson, Director & Geological Adviser

“Our enthusiasm remains high.” – Dave Mathewson, Director & Geological Adviser