Phenom Resources Corp. (TSX-V: PHNM) (OTCQX: PHNMF) is adding a Nevada gold expert to its Board of Directors and expects a strong market for the precious metal this year.
The junior miner announced Monday that its Geological Advisor Dave Mathewson was stepping up to take a leadership role in the company. He is known for being an expert on the Carlin Gold Trend, a strip of land 5 miles wide and 40 miles long that produces most of Nevada’s gold.
“We will benefit from his 40 years of conducting and managing gold exploration in Nevada,” Paul Cowley, CEO of Phenom, said.
Mathewson previously served as an exploration manager for Newmont Corporation (TSX: NGT) (NYSE: NEM) and US Gold Corp (NASDAQ: USAU). During his time with Newmont, he discovered a series of gold deposits in the Carlin trend that have produced over 4 million ounces of gold.
He studied at the New Mexico Institute of Mining and Technology in the 1970s before pursuing further studies at the University of Nevada, Reno in the 1990s.
Phenom’s flagship operation is the Carlin Gold-Vanadium project in Elko County. The company says there are about 9 million ounces of gold spread throughout various deposits in the project’s surrounding area.
According to estimates, Nevada’s gold deposits formed about 39 million years ago. The Carlin trend has produced more than 85 million ounces of the metal since 1965.
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Nevada produces more gold than most countries do
Nevada Gold Mines was the state’s top producer in 2022, generating just over 3 million ounces.
Kinross Gold Corporation (TSX: K) (NYSE: KGC) came in second with 433,000 ounces and SSR Mining Inc. (TSX: SSRM) (NYSE: SSRM) took spot number 3 with almost 195,000 ounces.
First Majestic Silver Corp. (NYSE: AG) (TSX: FR) and Argonaut Gold Inc. (TSX: AR) were the fourth and fifth production leaders respectively followed by Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), which produced 43,186 ounces.
Calibre plans to increase its output this year by commencing production at its Gold Rock project in central Nevada.
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