Phenom Resources updates assessment of the King Solomon Gold Project, Nevada
Phenom Resources Corp. [TSXV: PHNM); OTCQX: PHNMF; FSE: 1PY0] reported that consulting geologist Dr. Mike Ressel has provided the company with a comprehensive report on his summer 2025 mapping, compilation of historic geological, geophysical and geochemical data, and assessment of the company’s King Solomon Gold Project, in central Nevada, 120 km (75 miles) southwest of Eureka, Nevada and 38 km (24 miles) southwest of the company’s Dobbin Gold Project.
Both projects lie along the prospective Paleozoic continental margin within favorable carbonate host rock units and nearby early Tertiary intrusive/extrusive heat sources contributing to rock alteration and potential metal emplacement.
Highlights are provided here to demonstrate the project’s regional-scale (6.2 square miles; 16.1 km2) Carlin-type gold-silver-antimony and epithermal volcanic-hosted mineralized system.
In meetings with Phenom Representatives held in Washington, DC, the Chief of the US Forest Service, Chief Tom Schultz, indicated simplified draft permitting reform is in progress and anticipating implementation this year. We anticipate these changes will finally allow King Solomon exploration to be conducted more expeditiously under reasonable exploration permitting policies. The company is hopeful the timing of these new policies will allow King Solomon drilling this year.
Extensive hydrothermal alteration and significant Au mineralization characterized by elevated Au, Ag, As, Sb, Hg, Tl, and Ba occur within the King Soloman target area. Geophysical data include fairly detailed airborne magnetics, gravity, and limited CSAMT and IP.
The magnetics and gravity data corroborate much of the detailed mapping, lending support to map interpretations of intrusive doming and extensive shallow covered and exposed carbonate rocks. Areas of gold-bearing polymictic breccias associated with large dykes have been newly identified.
Dave Mathewson, accomplished gold finder stated, “There is excellent potential for discovery of significant Carlin-type gold deposits at King Solomon. Previous explorers appear to not have understood the full extent of, and significance of, the stratigraphy or gold model. Typical of earlier 1990’s explorers, drilling was largely limited to shallow tests of 90 metres to 122 metres deep (300-400 feet) and was primarily focused on the potential within the overlying Tertiary volcanic rocks.
“Significant near surface gold intercepts within Tertiary volcanics which, noteworthy as they are, suggest a bigger potential within the underlying more permissive, Paleozoic carbonate package. Earlier explorers barely penetrated the more prospective rock units and only scratched the surface of this prospect. The carbonate sequence below the volcanics at King Solomon which I have identified include favourable Devonian, down into Ordovician gold host rock formations such as the Denay, Rabbit Hill, Roberts Mountain and Pogonip limestone Formations, with a collective thickness well in excess of 1000 feet. These rock units represent a very significant potential host package to gold deposits that have not been significantly drill tested here.”
Through Dr. Ressel 2025 work, Priority 1 and 2 areas have been identified for detailed evaluation this summer and from that, drill target development. Much of the property is ranked as priority.
King Solomon has been partially tested by 103, mostly shallow drill holes, from the 1980’s when shallow drilling of Carlin-type systems was common. Most of the drill holes were focused in a small area around the King Solomon Mine where significant near surface gold intercepts were encountered; some holes ending in mineralization, including 74.68 metres at 0.96 g/t gold or 245 feet at 0.028 oz/ton, 16.76 metres at 0.86 g/t gold or 55 feet at 0.025 oz/ton, 38.1 metres at 1.37 g/t gold or 125 feet at 0.04 oz/ton. Refer to original prs re;lease for more drill results. Nine 9 of 11 holes ended in mineralization.
Dave Mathewson continues, “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. I lean strongly toward believing the existence of one or more gold deposits are present in the area.”
The principal targeted metal on King Solomon is gold. Contributing to that, it is interesting to note that King Solomon was originally mined for high-grade antimony and silver. Considering the attention antimony is getting as an important critical metal for the US, and the US government’s support to advance key antimony projects, it is worth noting the antimony association on the King Solomon project. The historic high-grade antimony mining may favourably influence the project’s permitting priority with regulators. Two historic grab samples from one vein at King Solomon returned 12.57% and 38.86% antimony and 5.8 oz/ton and 55.16 oz/ton silver. A 4 ft wide shear zone reported an assay of 1.3% antimony and 2.8 oz/t silver.
Phenom has 100% interest in the Carlin Gold-Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada and Highway I-80 which hosts the Carlin Vanadium deposit, North America’s largest highest grade primary vanadium resource. The project lies within the prolific Carlin Gold Trend. Approximately 9 million ounces comprised of multiple gold deposits, including past producing mines, are present near the Phenom property (5-15km). The company has options on three gold projects in Nevada, the King Solomon and Dobbin Properties which are Carlin Gold-type targets and the Crescent Vally Property, is a Bonanza high grade gold vein-type and also a critical metals IOCG-type target.