Phenom Updates on Field Planning and Preparation for Gold Push
Phenom Updates on Field Planning and Preparation for Gold Push
August 17, 2023 - Vancouver, British Columbia – Phenom Resources Corp. (TSX-V: PHNM) (OTCQX®: PHNMF)
(FSE: 1PY0) (“Phenom” or the “Company”) is pleased to provide an update of the Company’s field planning
and preparation for the summer/fall exploration program in Nevada focused on gold efforts.
Paul Cowley, President & CEO states, “Last week an access road and drill pad were constructed on the Carlin
Gold-Vanadium Project designed for hole RC23-17, a 2000+/- foot hole planned to test the gold system. The
site is located where near-surface gold of up to 1.4g/t Au (0.044oz Au/t) in outcrop is considered high-level
geochemical “leakage” above the deeper target zone and flanking the confluence of the north-south graben
fault-zone and a northwest trending splay fault. North-south and northwest oriented fault-zones are the most
significant fault orientations influencing gold mineralization on the Carlin gold trend. Hole RC23-17 will drill
into a funnel -shaped IP anomaly at depth. The Company has narrowed down to two drill contractors to
conduct the drilling. Once the contractor has been selected and rig date set, the Company will report to
shareholders. Hole RC23 -17 follows the impressive findings in hole RC22 -16 from last summer which
encountered the best characteristics of the Phenom-controlled Carlin-type-deposit gold system to date; the
most intense alteration and gold mineralized dolomite-silica-pyrite-breccia within Popovich limestone starting
at a 1680’ depth.”
In addition, Company geologists met in Elko with Dave Mathewson, Company geological advisor, last week to
design next steps of exploration on the Crecent Valley gold project. This included detailed review of previous
technical reports, re-examining chips from five historic drill holes and a site visit of the project. The property
hosts range-margin large-scale pyrite-bearing epithermal, locally gold anomalous quartz veins exhibiting multi-
stage brecciation and multi-stage veining of chalcedony, characteristic of a low-sulfidation bonanza-type gold
vein system. Examples of this style of veining are Sleeper, Midas, Mule Canyon, Fire Creek in the north-central
Nevada region. The technical team’s consensus was to conduct an Induced Polarization (IP) geophysical survey
to provide an aid in directing effective drill targeting along the 4-kilometre length of the vein system . The
Company has approached a well-known geophysical contractor to engage and schedule in the IP survey. Once
dates are better defined for the IP survey, the Company will report to shareholders.
About Phenom Resources Corp.
Phenom has 100% interest in the Carlin 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 in the Carlin Gold Trend. Approximately 9 million ounces
comprised of multiple gold deposits, including past producing mines, are present near the Phenom property
(5-15km).
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, and Geological Advisor to 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 for ward-looking statements. Forward -looking
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statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or result s, and
they will not necessarily be accurate indications of whether or not such results wi ll 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 a nd 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.