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Phenom Resources Corp. (PHNMF) is a Vancouver-based company with a focus on mineral exploration. The company owns the Carlin Gold-Vanadium Project in Nevada, which is a significant resource for vanadium and gold. Phenom recently submitted a Concept Paper to qualify for a U.S. Federal grant for its Carlin Vanadium Project. The company is actively pursuing new business opportunities, including a patent application to extract vanadium and nickel from petroleum coke fly ash material.
Phenom Resources Corp. (TSXV: PHNM, OTCQX: PHNMF, FSE: 1PY0) announced significant progress on various projects and corporate activities. The company has engaged Zonge International Geophysical Services for a geophysical survey at the Crescent Valley Gold Project, expected to complete in under three weeks.
At the Dobbin Gold Project, ongoing geological mapping and soil sampling have identified two significant anomalies. The King Solomon Gold Project is in the data consolidation phase, with field activities and drilling next steps being planned.
Phenom holds a 5% equity in MK Plus, a Japanese solid-state vanadium battery group, and discussions for funding their first battery plant are underway. The company is also pursuing new funding opportunities through the Department of Environment's Office of Clean Energy Demonstrations.
Additionally, Phenom received refunds on reclamation bonds for successful reclamation at the AVP, Section 22, and Smoke projects.
Phenom Resources Corp. (TSXV: PHNM, OTCQX: PHNMF, FSE: 1PY0) announced an option agreement to acquire 26 additional claims for the King Solomon Gold Project in Nevada. This expansion increases the project area by 210 hectares, making the total 1,651 hectares. The King Solomon project, located 32 km south of Phenom's Dobbin Gold Project, is believed to host a Carlin-type gold system. Drilling has confirmed mineralization, with surface samples reaching up to 8.4 g/t Au. The option agreement entails payments totaling US$105,000 over four years, with a 3% net smelter return royalty. Phenom can purchase up to a 2% NSR for US$3.0 million.
Phenom Resources Corp. has entered into an option agreement to acquire up to a 100% interest in the King Solomon Gold Project in central Nevada. The project comprises 178 claims over approximately 1,140 hectares and is near Phenom's Dobbin Gold Project. Historically, the area shows promise for Carlin-type gold deposits. The option agreement includes a four-year period with payments totaling $150,000 and 75,000 shares issued. The vendor retains a 3% net smelter return royalty, with Phenom having the option to buy up to 2% of this for $3 million. The agreement is subject to TSX Venture Exchange approval.
Phenom Resources Corp. (TSXV: PHNM, OTCQX: PHNMF, FSE: 1PY0) announced the filing of a US patent for a new process to extract vanadium and nickel from petroleum coke fly ash. This is Phenom's third patent, underscoring their technological advancements in metallurgical processes. The company aims to leverage these innovations for new business opportunities.
Phenom Resources Corp. reports the expiration of 6,977,325 warrants at $0.55 from a private placement in May 2021. The Company is awaiting feedback from the Department of Energy on two grant applications for its Carlin Vanadium Project, seeking funding totaling $303 million. Additionally, Phenom is actively exploring potential gold acquisitions in Nevada to enhance its gold portfolio.
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