- Phenom Resources (TSXV:PHNM) reveals drill results from its recently optioned King Solomon Gold Project in Nevada
- Results include shallow attractive and consistent thickness and grades to the intercepts
- Roughly nine out of the 11 holes have intercepts starting under 48 metres from surface
- Shares of Phenom Resources are up 3.66 per cent to C$0.425 as of 11:27 am ET
Phenom Resources (TSXV:PHNM) reveals drill results from its recently optioned King Solomon Gold Project in Nevada.
In a news release, the company highlighted some of the results that include shallow attractive and consistent thickness and grades to the intercepts and that nine out of the 11 holes have intercepts starting under 46 metres from surface.
Additionally, nine of the 11 holes also ended in mineralization within the better rock host unit – the Paleozoic carbonates – demonstrates an open opportunity at depth.
“There is excellent potential for discovery of significant Carlin-type gold deposits at King Solomon,” Dave Mathewson, director and geological advisor at Phenom Resources, said in a statement. “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.”
Thanks to these historic results, the company has now initiated permitting steps for drilling.
Phenom Resources is a Vancouver-based company with a 100 per cent interest in the Carlin Gold-Vanadium Project in Elko County, Nevada, that hosts the Carlin Vanadium deposit.
The company also has options on three gold projects in Nevada, the King Solomon and Dobbin Properties.
Shares of Phenom Resources are up 3.66 per cent to C$0.425 as of 11:27 am ET.
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(Top photo: Phenom Resources)
