01:05 PM EDT, 03/21/2024 (MT Newswires) -- Phenom Resources Corp. ( PHNMF ) reports that following its January announcement regarding the submission of a Concept Paper to the Department of Energy (DOE) to qualify for a larger U.S. Federal grant application on its Carlin Vanadium Project, Phenom has received a letter from the DOE encouraging the company to submit a full application.

Phenom has submitted its full application for a US$300 million grant.

Last December, Phenom said it had submitted a separate grant application to the DOE and its Office of Fossil Energy and Carbon Management (FECM) for RD&D bench and pilot scale funding for the Carlin Vanadium Project. This funding opportunity concerns an earlier stage of technical work to assist in advancing metallurgical testing for the Carlin Vanadium Project that would become part of a Prefeasibility study. The company is awaiting the DOE's review on this second grant application.