Commodity prices have soared this year due to a highly inflationary period the entire world has entered. Central banks around the world have printed trillions of dollars to combat the effects surrounding the covid-19 pandemic. Additionally, recent actions regarding Russia’s invasion on Ukraine has sent shockwaves throughout the global economy, creating major financial uncertainties.
Safe-haven assets have exploded, with gold reaching an all-time-high of US$2,050 per ounce back in March and last traded at US$1,980per ounce.
Vanadium prices have also moved up significantly this year, as demand for vanadium redox batteries become more desirable. Increase demand by China and other countries shows current production levels will not be able to meet the future demand for the metal.
ONE UNIQUE GOLD AND VANADIUM STOCK FOR YOUR WATCHLIST?
Phenom Resources (TSX.V: PHNM) (OTCQX: PHNMF) is an exploration company focused on advancing their major vanadium resource and discovering a high-grade gold deposit in Nevada. The company is sitting on a unique double stack carlin-style gold system under a high-grade vanadium resource. Vectoring in on the gold target is currently being done by renowned Nevada gold mine finder, Dave Mathewson. The technical team has a combined experience of 450years of mining related activities.
Phenom Resources (TSX.V: PHNM) (OTCQX: PHNMF) has announced exciting news over the past few weeks including engaging Cassidy & Associates, Inc. based in Washington, DC to help identify and determine U.S. federal funding opportunities to foster additional support and additional opportunities to expand the vanadium resource for the Company's vanadium project, which is one of North America’s largest highest grade vanadium resource.
"The Biden Administration has made clear its strong commitment to securing domestic critical mineral supply chains by invoking the Defense Production Act for battery materials and making historic investments in the billions for battery materials processing through the recently passed Infrastructure Investment and Jobs Act, among other laws." said Paul Cowley, Company President &CEO, "Through this partnership with Cassidy, we hope to identify pathways to garner federal support and funding resources for our project, which would diversify Nevada's critical minerals portfolio and deliver high grade U.S. vanadium to help meet increased infrastructure and clean energy demands, as well as improve national security."
Vanadium prices have been on the rise since January 2021 due to increased demand in steel and batteries. In the last 4 months alone vanadium prices have gone up byUS$5/lb, now at US$11.60/lb V2O5. The Company's May 2020 Preliminary Economic Assessment was done below the current price, at US$10.65/lb. With this rising vanadium price setting, the Company has been working on both its gold and vanadium initiatives in Nevada.
Phenom Resources (TSX.V: PHNM) (OTCQX: PHNMF) recently completed an exploration program and has identified additional new near-surface vanadium intercepts which now shows multiple opportunities to expand the vanadium mineralization northerly, easterly and at depth.
CEO & President Paul Cowley states “From the shallow intercepts, hole RC20-05 returned a >50% thicker intercept to its nearest previous hole, and hole RC21-13A, 100m north of the vanadium resource outer limits, returned 24.4m of 0.71% V2O5. Secondly, it appears from recent drilling that vanadium thicknesses and grades increase closer to the bounding north/south graben fault shown in the figure below; an area that had not been specifically targeted in the past and remains underexplored. Thirdly, the drilling encountered multiple deeper vanadium intercepts that were completely unexpected, reflecting multiple layers of vanadium mineralization."
Phenom Resources (TSX.V: PHNM) (OTCQX: PHNMF) also has the potential of unlocking a massive high-grade Carlin style gold discovery under the vanadium resource. Similar assets within a 9-mile radius have proven over 9Moz of gold and shows investors what can be potentially delivered on the property. Current work shows the potential of a large alteration as an IP anomaly delivered a 750m X 500m X >1500m defined root system.
The company is also exploring on the Smoke Property, which was optioned from Dave Mathewson, located on the Independence-Eureka Gold Trend. The latest results show the potential for a large Carlin-style gold system.
Dave Mathewson states, "I like what I see here; there are intriguing geological and geophysical characteristics for gold exploration. We determined from the drilling that we have the right age and character host rock, a fundamental importance for Carlin-type gold. Certainly, the alteration is there in silicification, brecciation and dolomitization. And a lot of structural damage has disrupted the rocks indicating structural dynamics in play which is also a plus. The gravity survey indicates a 4 km by 0.5 km (2.5 x 0.3 mile) prospective anomaly. The positives resulting from the drilling and geophysical surveys include the generally shallow depths to permissive host rocks over a sizable area within the extensively gravel covered Little Smoky Valley, and the widespread presence of altered prospective host rock combined with broad weakly anomalous gold, and moderately anomalous pathfinder elements. This is an affirmative first step to exploring the potential on Smoke."
RIGHT TEAM, RIGHT ASSET & STRONG INFRASTRUCTURE
Phenom Resources (TSX.V: PHNM) (OTCQX: PHNMF) recently completed a $3M financing, which was taken down by some of the biggest players in the mining industry. Rob McEwen subscribed for half the round, with Eric Muschinski subscribed for1,000,000 Units and Tookie Angus, business advisor for the Company, added to his share position.
The company’s infrastructure is world-class as Carlin, Nevada has road access, a major rail system, powerline, nearby workforce with an airport 40 minutes away, and is only 13 miles from a massive processing plant.
As of today, Phenom Resources (TSX.V: PHNM) (OTCQX: PHNMF) is trading at $0.65 and has 84.4M shares outstanding, giving it a market cap of $55M.
The company is now funded to complete additional exploration work and plans to unlock the true potential of The Carlin Gold-Vanadium Property.
Disclaimer Phenom Resources is a paid marketing client*