- Phenom Resources (PHNM) is releasing drilling results from eight reverse circulation holes at its Carling Gold-Vanadium Project
- The Vancouver-based company’s flagship project is located in Elko County, Nevada
- The company says the eight holes now confirm the gold system on the property is immense
- Extensive intercepts averaging half a kilometre long of continuous elevated gold values have been encountered in every hole,
- Phenom Resources is unchanged, trading at $0.44 at 10:45 am ET
Phenom Resources (PHNM) is releasing drilling results from eight reverse circulation holes at its Carling Gold-Vanadium Project.
The Vancouver-based company’s flagship project is located in Elko County, Nevada. Drilling was meant to evaluate the gold system on the property, and the company says the eight holes now confirm the gold system is immense.
The system tracks at least 6.4 kilometres in length, averaging 0.5-1 kilometre wide, defined by the IP anomaly and favourable geological rock units with favourable alteration, brecciation, sulphide, gold and pathfinder metals.
Extensive intercepts averaging half a kilometre long of continuous elevated gold values have been encountered in every hole, indicating a vast amount of rock has been impregnated with gold.
“We are encouraged that from this drilling we have gained sound building blocks to understand this favourable large system. With it, vectoring tools are evident to pursue high-grade sectors within it. The size of the system and extensive halo of gold within it, point to potentially multiple high-grade feeders, like a string of beads, snuggled along the westside, i.e. horst side, of the north/south graben fault. From my experience, these large Carlin systems always have high-grade feeder zones.
Often, they are in the order of 150-200m diameter, or smaller, collapse breccia “pipe-like features” so they are not always easy to find but the prize certainly can be worth the effort. We have plenty of high-priority areas to go after with persistence, good science, and superior exploration know-how,” said geological advisor Dave Mathewson.
Phenom Resources is unchanged, trading at $0.44 at 10:45 am ET.