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Drilling Confirms a New Hydrothermal System within Pilot and Devils Gate Formations at the Smoke Property, Nevada
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2022) - Phenom Resources Corp. (TSXV:...
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[{"type":"text","content":"Drilling Confirms a New Hydrothermal System within Pilot and Devils Gate Formations at the Smoke Property, NevadaVancouver, British Columbia--(Newsfile Corp. - July 28, 2022) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) (\"Phenom\" or the \"Company\") is pleased to announce partial drill results from the July 2022 5-hole 2,700 foot RC drill program on the Smoke gold property, located on the southern extension of the Battle Mtn - Eureka Gold Trend, 65 kilometres (km) south of Eureka, Nevada. Drilling confirms a new hydrothermal system has been encountered within key Pilot and Devils Gate Formations at the Smoke Property.The vertical hole SRC22-13 drilled 150 feet of gravel and then encountered a 280' thick section of oxidized, highly altered, quartz and alunite-bearing, veined, brecciated siltstone (probably Pilot Formation) with significantly elevated pathfinders of arsenic and antimony and minor gold followed by altered, oxidized probable Devils Gate (Guilmette) limestone to the end of hole at 600 feet.Dave Mathewson states, \"Results of this recent drilling appear to indicate the presence of a previously undetected sizeable, prospective, hydrothermal alteration system. This is an exciting major development at Smoke, a shallow oxide system in the right rocks. 1) The 2022 drill program intersected gold system prospective host carbonate and fine clastic rocks of probable Devonian age. My best interpretation for the stratigraphy is Devonian Pilot and Devils Gate (Guilmette) Formations. 2) The Pilot and Devils Gate sequence is the highly prolific host to multiple gold deposits in eastern Nevada. Examples are Alligator Ridge, Pan, Easy Junior, Midnight Ridge, and Limousine Butte. 3) The intensity and style of alteration and significantly elevated pathfinder elements are evidence of a strong hydrothermal system typical of Carlin-style mineralization overprinting this permissive stratigraphy, 4) The shallow depth of this system is favourable for quick and inexpensive drill evaluation, taking a day to drill each hole.5) The intensity and variety of oxide minerals encountered in SRC22-13 are typical of Carlin-style mineralization. Near surface oxidized gold systems are prized in Nevada for low-cost, bulk minable opportunities.\" The five 2022 broad-spaced RC holes were drilled outward from the 2021 campaign of 8 shal...