Phenom Resources is accelerating exploration at its Nevada-based Dobbin gold project, bolstered by a $5.4 million investment from major producer SSR Mining and an experienced geological team.
Phenom Resources has commenced drilling at its Dobbin Project in Nevada, targeting a Carlin-type gold system. The company secured a $5.4 million strategic investment from SSR Mining, which holds a 9.9% stake and is considering further funding to support the exploration campaign.
The project features a 1.3-mile-long gold-in-soil anomaly with high-grade samples, situated in geological formations historically associated with major gold deposits in Nevada.
Phenom is planning to spin out its vanadium portfolio into a separate entity to allow management to remain focused on gold, while shareholders retain value through a potential dividend of the new company.