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Phenom Resources Corp.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Suite 880 – 580 Hornby Street
Vancouver, BC
Canada V6C 3B6
Tel No.: 604-340-7711
Web Site: www.phenomresources.com
E-mail: pcowley@phenomresources.com
Contact Person: Paul Cowley
Position: President & CEO


Company Data

Traded Market: TSX-V | OTCQX
Traded Symbol: PHNM | PHNMF
Outstanding Shares: 82.4 million
52 Week High: $ 0.85
52 Week Low: $ 0.35
Present Price: Click Here


Introduction

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Phenom Resources Corp. (formerly First Vanadium Corp.), focused in Nevada, has an option to earn a 100-per-cent interest in the Carlin gold-vanadium project, located in Elko County, Nevada. The property lies in the southern parts of the prolific Carlin gold trend. The Carlin gold-vanadium project also hosts the Carlin vanadium deposit, North America’s largest highest grade vanadium resource. Phenom also has an option from Dave Mathewson to earn 100 per cent in the Smoke gold property located in the Independence-Eureka trend of Nevada.


EXPLORATIONS

Flagship Carlin Gold-Vanadium Project, Nevada

The Carlin gold-vanadium project is located 6 miles south of the town of Carlin, Nevada, and within the Carlin Gold Trend, Nevada's most prolific gold mining trend, dominated by majors including Barrick and Newmont. The Project possesses strong infrastructure being only 6 miles by road to a major highway, rail hub, power and skilled mining work force.

Large-scale Carlin-style gold system below a PEA (Preliminary Economic Assessment)-stage vanadium resource in Carlin Gold Trend.

Best Site Conditions

  • Vanadium Mineral Resource – Feb 2019 (80% Indicated)
    • Indicated Resource: 303M lbs V2O5 (vanadium pentoxide) (24.64M tons grading 0.615% V2O5) and
    • Inferred Resource: 75M lbs V2O5 (7.19M tons grading 0.520% V2O5)
  • Large deposit – 35m (120ft) thick x 1,800m (6,000ft) long x 600m (2,000ft) wide
  • High Vanadium grades – thick intercepts up to 1.5% V2O5
  • Flat to shallow dipping
  • Near surface (0-60m; 0-200ft) amenable to open pit mining
  • Metallurgical flow sheet: 80% average vanadium recovery

Vanadium prices have been on the rise since January, 2021, due to increased demand in steel and batteries. The Company's May 2020 PEA (preliminary economic assessment) was done below the current price, at US$10.65 per pound.

May 2020 PEA (Preliminary Economic Assessment)

  • PEA highlights a potential large-scale, lower-quartile cost open-pit mine
  • Mining for 11 years (+5 years of stockpiles) at low strip ratio (3.22:1)
  • Processing 1.0M tpy of high-grade (avg. of 0.71% V2O5 ) oxide and shale ore
  • Conventional beneficiation and hydrometallurgical processing
  • High overall recoveries (78.6% for oxide and 77.4% for non-oxide)
  • Average annual vanadium (V2O5) production of 11.4M lbs
  • Life of mine average cash cost at US$5.17/lb V2O5
  • Pre-production capital expenditures of US$535M
  • Substantial leverage – after-tax cash flow increases by 239% to US$1.02B with increased V2O5 price from US$10.65/lb (base case) to US$15.44/lb

Multiple Opportunities to Enhance the Project

  • Expanding and defining additional oxide mineralization
  • Additional test work, engineering and project definition to reduce capital costs or contingencies
  • Higher efficiency centrifuge separation could reduce operating costs and improve recoveries
  • Alternative technologies in solid-liquid separation to minimize the size of tailings facility and IX (Ion Exchange) and SX (Solvent Extraction) plants
  • Build acid plant benefitting region for years to come

Large Gold System – 6.4km long, Analogous to Gold Quarry Deposit Setting

  • Similar stratigraphy to Gold Quarry Pit 13 miles NW on Carlin Gold Trend
  • Induced polarization (IP) chargeability shows system over 6.4km long, up to 1.3km wide
  • 14 holes drilled to date defining gold system
  • PHNM controls 3 of 4 square miles of system

South Carlin Priority Drill Targets

  • 14 drill holes provides architecture of gold system and vectoring information
  • Now vectoring within the large system for high-grade feeders

Smoke Gold Project, Nevada

  • Optioned from Mr. Dave Mathewson located on the Independence-Eureka Gold Trend, 65 km south of Eureka, Nevada.
  • Large (0.5km long) ridge of quartz breccia in valley
  • Within carbonates – great host and setting for Carlin-like gold potential
  • First pass drilling (8 holes totalling 1,402m) completed Dec 2021
    • The purpose of the first pass drilling program was to confirm and test the geological setting prospective for a Carlin-type gold system.
    • First pass drilling confirmed setting at the Smoke Property
    • Geophysics expands the setting (See news release dated March 21, 2022)

Investment Highlights

  • Earning 100% in the largest, highest-grade primary vanadium resource in North America
    • Vanadium – a mineral of choice for next generation of green energy storage
  • Significant potential for a Carlin-style, high grade gold discovery along the Carlin Gold Trend – target defined by renowned Nevada gold specialist and proven mine finder Dave Mathewson
  • Exceptional team with a track record of discovering gold deposits and building/operating mines


Management

Management, Directors and Advisors

Paul Cowley, P.Geo., President & CEO

41 years experience in technical and managerial positions exploring for gold, base metals, diamonds, industrial minerals and coal

Extensive experience in a major company setting based in Canada and South America (18 years with BHP Minerals). Projects include the Escondida world-class copper mine in Chile, Country Manager for Bolivia, and the Ekati diamond mine and the Slave gold project in the Canadian arctic

As manager of the Slave Gold Project, his team discovered and advanced 4 significant gold deposits (over 6 million ounces of gold)

Michael Mracek, P.Eng., Director and Mining Advisor

Since 2011, he has provided consulting to firms such as SRK and SNC-Lavalin, advising on various studies, including feasibilities

Dr. Radomir Vukcevic, PhD, Director

Over 35 years providing technological, technical and equipment solutions to mining companies globally

He was with Alcoa AWA in Melbourne, Perth, and Pittsburgh for 14 years and Anaconda (Anglo American/Glencore) for 3 years. His experience with vanadium is significant.

John Anderson, BA, Director

Co-founder of Aquastone Capital Advisors LP

Over 15 years' experience in the capital markets

Dave Mathewson, M.Sc., Geological Advisor

An authority on Carlin Gold Trend, vigorously exploring for over 15 years with Newmont and Gold Standard Ventures (GSV)

Found over 5M oz Au within 10 km of Phenom’s property

Neighboring GSV (5 km away) reached a market cap of $1 Billion from gold deposits he found and acquired for GSV

Dr. David Dreisinger, PhD, Metallurgical Advisor

Jacques McMullen, P.Eng., Metallurgical Advisor

Dr. Gary Kordosky, PhD, Metallurgical Advisor

Bill Matheson, Construction Advisor

Tookie Angus, Business Advisor


News Update

NEWS UPDATES

On April 5, 2022, Phenom Resources Corp. announced that it has engaged Cassidy & Associates Inc., based in Washington, D.C., to help identify and determine United States federal funding opportunities to foster additional support and resources for the Company's vanadium project.

On March 24, 2022, Phenom Resources Corp. provided additional vanadium intercepts on its flagship Carlin gold-vanadium project in Nevada.

Because the gold system is below the vanadium resource on its Carlin gold-vanadium project, the drilling conducted in 2020 and 2021 passed through the vanadium deposit, resulting in new near-surface vanadium intercepts, which now have been assayed. The majority of these holes fall within the area of the vanadium resource; however, several holes, RC20-02, RC20-04, RC21-12, RC21-13 and RC21-13A, fall outside the limits of the resource.

Paul Cowley, president and chief executive officer of the Company stated: "These new vanadium intercepts are noteworthy, reflecting multiple opportunities to expand the vanadium mineralization northerly, easterly and at depth.”

Shallow vanadium intercepts includes:

  • RC21-13A: 24.39m @ 0.71% V2O5
  • RC20-05: 51.82m @ 0.76% V2O5

Deeper vanadium intercepts includes:

  • RC20-02: 27.43m @ 0.49% V2O5
  • RC20-04: 12.19m @ 0.36% V2O5

On March 21, 2022, Phenom Resources Corp. announced first pass drilling confirmed setting at the Smoke Property in Nevada, and geophysics expanded the setting.


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