Published: April 10, 2024 |

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Hycroft Mining has reported its 2024 exploration drill program at the Hycroft Mine 55 miles west of Winnemucca is well underway, with assays pending on the initial drill holes.

The company says the Hycroft Mine is one of the world’s largest precious metals deposits.

In November 2021 Hycroft announced it was ceasing mining operations and would focus exploration and technical studies to determine the best ways to process the sulfide ores at the mine. In November 2023, Hycroft announced discovery of a new high-grade silver system within the known resource area and the delineation of two new high-grade silver trends.

The company said these discoveries represent a significant new value driver for the Hycroft Mine. The trends have continuous silver mineralization greater than 137 grams per ton, with very high-grade areas with more than 2,000 grams of silver per ton, according to the company.

Hycroft said that following the results achieved in 2023, the 10-hole Brimstone and Vortex drill program was launched in February and will continue through May, with flexibility to expand the program.

The drilling is targeting confirmation of the continuity of the high-grade silver mineralization between the Vortex-Brimstone trend and the Vortex-Camel trend, expanding both trends along strike and at depth, and enhancing the understanding of structural controls, according to the company.

“The paradigm is shifting with our understanding of what is controlling the high-grade mineralization within the expansive Hycroft system,” said Alex Davidson, Hycroft’s vice president of exploration.

“This new understanding of low-angle structural controls has far-reaching implications for the broader district-scale targets, as well as the high-grade silver discoveries. This has been confirmed through drill data and recent geophysics,” added Davidson.

“This work supports the idea of a potential underground starter mine at Hycroft, which would contribute to more robust economics and lower initial capital costs, generating better value for our shareholders,” concluded Davidson.

Davidson said the Vortex-Brimstone and The Vortex-Camel trends both remain open in both directions and at depth.

“The exploration and ongoing technical work at Hycroft is solidifying our belief that the potential of this asset has yet to be fully understood,” said Diane Garrett, Hycroft’s president and CEO.

“Through our work and ongoing communications and marketing to the investing public, our story is resonating positively, and we are pleased to see that reflected in the recent performance of our share price,” added Garrett.

Garret said along with delivering strong exploration results, the team at Hycroft is continuing to demonstrate a commitment to health and safety at the site, and has maintained a total recordable injury frequency rate of zero.

Source: Elko Daily Free Press

Hycroft Mining is a U.S.-based gold and silver company exploring and developing the Hycroft Mine, one of the world’s largest precious metals deposits located in northern Nevada, a tier-1 mining jurisdiction. After a long history of oxide heap leaching operations, the company is focused on completing the technical studies to transition the Hycroft Mine into a large-scale milling operation for processing the sulfide ore. In addition, the company is engaged in a robust exploration drill program to unlock the full potential of its expansive +64,000-acre land package, of which less than 10 percent has been explored. In 2023, Hycroft announced the discovery of a new high-grade silver system within the known resource area and the delineation of two new high-grade silver trends. These discoveries represent a significant new value driver for the Hycroft Mine that the company is following up on with additional drilling in 2024.

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