Newsfile Corp
29 May 2026, 19:44 UTC · 1h ago
Source · https://www.newsfilecorp.com/release/299471/Phenom-Reports-Consistent-Results-on-Rare-Earth-and-Critical-Metals-Deposit-at-Crescent-Valley
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Phenom Resources' new drill hole CVN26-07 returned a 102-metre intercept of Rare Earth Elements (REE) and Critical Metals starting from the surface. — Positive drilling results from the surface suggest a high probability of viable open-pit mining, reducing extraction costs and increasing project NPV.
+0.60The company estimates the deposit dimensions to be approximately 600m wide, 200m thick, and at least 1km long based on geophysical data. — Providing specific dimensions suggests a potentially significant resource size, which increases the asset's valuation potential.
+0.40The deposit contains high-value critical metals including Rubidium, Hafnium, and Scandium, which are listed on the US Geological Survey's critical metals list. — Alignment with national security and strategic supply chain needs increases the likelihood of favorable permitting or strategic funding.
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Phenom is initiating a mineralogical evaluation at SGS Canada Inc. to determine how the metals can be concentrated for metallurgical purposes. — This is a necessary technical step to prove the economic viability of extracting the minerals from the ore.
+0.20Ticker attribution
Model heads
The company reported successful additional drilling returning similar thickness and grade of critical metals and rare earth elements.
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