Phenom Shares Historic Drill Results from its King Solomon Gold Project, Nevada
Phenom Shares Historic Drill Results from its King Solomon Gold Project, Nevada
September 11, 2024 - Vancouver, British Columbia – Phenom Resources Corp. (TSX-V: PHNM) (OTCQX®:
PHNMF) (FSE: 1PY 0) ( “Phenom” or the “ Company”) is pleased to share historic drill hole results from its
recently optioned King Solomon Gold Project in central Nevada, 120 kilometres (75 miles) southwest of
Eureka, NV and 38 km (24 miles) southwest for the Company’s Dobbin Gold Project. Over that last year, Dave
Mathewson, Company Director and Geological Advisor, has deliberately and purposefully guided Phenom to
build up a gold portfolio rivaled by few in Nevada with the acquisitions of the Crescent Valley, Dobbin and King
Solomon Gold Projects.
Like Dobbin, with its recent news of its significant open-ended 900m x 220m gold -in-soil anomaly, the King
Solomon Project covers a regional -scale Carlin -type gold system. To demonstrate the calibre of the King
Solomon Gold Project , the Company wishes to provide the following table, highlighting eleven historic drill
holes on King Solomon within an area 425m by 250m (1,400ft x 820ft). Of note are the shallow attractive and
consistent thicknesses and grades to the intercepts. Nine of the eleven holes have intercepts starting less than
46 metres (150ft) from surface and nine of the eleven holes ended in mineralization within the better host
rock unit, the Paleozoic carbonates, demonstrating the open opportunity at depth.
Drill Hole
ID From (m) To (m)
Intercept
Length
(m)
Gold Grade
(g/t) From (ft) To (ft)
Intercept
Length
(ft)
Gold Grade
(opt)
Ended in
Mineralization
(EIM)
KS-1 0.00 74.68 74.68 0.87 0 245 245 0.028 *EIM
KS-3 33.53 50.29 16.76 0.78 110 165 55 0.025 *EIM
KS-5 36.58 74.68 38.10 1.24 120 245 125 0.04
KS-7 39.62 91.44 51.82 0.72 130 300 170 0.023 *EIM
KS-9 54.86 86.87 32.00 0.65 180 285 105 0.021
KS-9 114.30 134.11 19.81 0.47 375 440 65 0.015 *EIM
KS-13 45.72 82.30 36.58 0.87 150 270 120 0.028
KS-13 86.87 121.92 35.05 0.37 285 400 115 0.012
KS-13 121.92 152.40 30.48 0.56 400 500 100 0.018 *EIM
KS-24 0.00 80.77 80.77 0.96 0 265 265 0.031
KS-26 32.00 76.20 44.20 0.65 105 250 145 0.021
KS-26 96.01 112.78 16.76 0.90 315 370 55 0.029 *EIM
KKS-1 0.00 80.77 80.77 0.89 0 265 265 0.028
KKS-3 7.62 41.15 33.53 0.98 25 135 110 0.032
KKS-3 140.21 182.88 42.67 0.55 460 600 140 0.018 *EIM
including 166.12 182.88 16.76 0.80 545 600 55 0.026 *EIM
KS-29-90 182.88 194.46 11.58 0.83 600 638 38 0.027 *EIM
Table 1: Highlighted Historic King Solomon Drill Intercepts – 9 of 11 holes ended in mineralization
Dave Mathewson, accomplished gold finder states, “There is excellent potential for discovery of significant
Carlin-type gold deposits at King Solomon. Previous explorers, appear to not have understood the full extent
of, and significance of, the stratigraphy or gold model. Typical of earlier 1990’s explorers, drilling was largely
limited to shallow tests of 90m to 122m deep (300-400 feet) and was primarily focused on the potential within
the overlying Tertiary volcanic rocks. Significant near surface gold intercepts within Tertiary volcanics which,
noteworthy as they are, suggest a bigger potential within the underlying more permissive, Paleozoic carbonate
2
package. Earlier explorers barely penetrated into the more prospective rock units, and only scratched the
surface of this prospect. The carbonate sequence below the volcanics at King Solomon which I have identified
include favourable gold host rock formati ons such as the Denay, Rabbit Hill, Roberts Mountain and Pogonip
limestone Formations, with a collective thickness well in excess of 1000 feet. These rock units represent a very
significant potential host package to gold deposits that have not been significantly drill tested here.”
Dave Mathewson continues, “Drilling to date has confirmed the Carlin -replacement-style of mineralization
and intercepts have approached desirable gold grades. The presence of permissive host rocks, Carlin -style
epithermal-style alteration, and geochemistry of up to very high levels of arsenic, antimony, mercury, and
locally gold, all indicate gold deposit prospectivity. I lean strongly toward believing the existence of one or
more gold deposits are present in the area.”
The Company has initiated permitting steps for drilling.
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 C rescent Vally Property, a Bonanza high
grade gold vein-type target.
ON BEHALF OF PHENOM RESOURCES CORP.
per: "Paul Cowley"
CEO & President
(604) 340-7711
[email protected] 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, a nd 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.