HYCROFT LAUNCHES LARGEST EXPLORATION PROGRAM IN NEARLY A DECADE (2022)

HYCROFT LAUNCHES LARGEST EXPLORATION PROGRAM IN NEARLY A DECADE (1)

HYCROFT LAUNCHES LARGEST EXPLORATION PROGRAM IN NEARLY A DECADE

, /PRNewswire/ --Hycroft Mining HoldingCorporation (Nasdaq: HYMC) ("Hycroft" or the "Company"), a gold andsilver development company which owns the Hycroft Mine in theprolific mining region of NorthernNevada, is pleased to announce its 2022-2023 explorationprogram.

HYCROFT LAUNCHES LARGEST EXPLORATION PROGRAM IN NEARLY A DECADE (2)

As the Company continues the engineering and design work for thenext phase of operations, it will be conducting the largestexploration program at the Hycroft Mine in nearly a decade.There has been no exploration drilling at Hycroft since 2014 and,prior to that, drilling was focused on step-out drilling from theknown pits for heap leach operations. Today, the Company isfocusing on the higher-grade opportunities identified in the 2021program and for the first time at Hycroft, a systematic approach tounderstanding the genesis of this world class scale deposit,including potential feeder systems. Hycroft is a low-sulfidation,epithermal system with numerous banded quartz veins similar toMidas-style mineralization yet there has been no prior focus onunderstanding these veins and what they may mean to potentialfeeder systems.

The 2022 – 2023 exploration program at the Hycroft Mine willcomprise approximately 125,000 feet of reverse circulation ("RC")drilling and approximately 20,000 feet of core drilling. TheRC drill rig is on site and the core drill rig is expected toarrive on site later in July. The RC drilling is beingconducted by National EWP Inc. of Elko,NV and the core drilling will be conducted by First DrillingLLC of Montrose, CO.

The focus of the 2022-2023 exploration activities are:

  • Drilling to expand and extend the high-grade Vortex Zone
    • including, follow up on the intercepts encountered in the 2021drill program which returned 51.8 meters (170 feet) grading 2.47grams per tonne ("g/t") (0.072 ounces per ton ("opt")) gold and25.5 g/t (0.744 opt) silver (H21R-5592) in drill hole H21R-559 (seenews release dated February 22,2022);
  • Following up higher-grade intercepts from the 2021 drillprogram
    • Approximately 102 intercepts (1.5 meter intervals) averaging4.1 grams per metric ton ("g/t") or 0.13 ounces per ton ("opt")gold and 85.3 g/t (2.73 opt)) were encountered;
  • Drilling three zones at depth that were identified in priorgeophysics work indicating high potential for feeder zones;and
  • Targeted drilling outside the known resource area to assessdistrict potential. More than 60,000 acres of the Company'sland position has not been explored.

The Company will also conduct targeted infill drilling withinthe existing deposits where there is limited drilling.Based on the geology and surrounding drill results, the Company isoptimistic that the additional limited drilling could convertmaterial currently modeled as waste to an ore classification in theresource model. This would reduce the strip ratio, haulagecosts, equipment costs, and increase revenue in the ongoingengineering and design work. Additionally, based upon theresults of such additional infill drilling, Inferred MineralResources could be upgraded to higher resource classificationsinside and adjacent to the current pit limits.

Diane R. Garrett, President &CEO commented "We are grateful to our shareholders and all whocontributed to our solid financial position that affords us theability to advance our corporate strategy of focusing on highergrade opportunities at Hycroft as we work to complete the technicalstudies for the sulfide mill operation. Hycroft is one of thelargest gold and silver deposits in the world located in the Tier 1mining jurisdiction of Nevada,USA. "

Alex Davidson, Vice President,Exploration commented, "From the 2021 metallurgical drill program,we observed that high-grade mineralization occurs at theintersection of the steeply dipping north-south trendingfaults1 and the east-west faults2. Thesegeologic controls of the higher-grade mineralization that are knownat Hycroft are similar to structures seen at the historichigh-grade past-producing, Rosebud gold mine, which is surroundedby our land position. We believe that there remains untappedpotential at Hycroft and many of our findings during 2021 supportthis opportunity. With the largest exploration program in nearly adecade, we will continue to build on the work to date andinvestigate the opportunities identified. Findings of highergrade will be critical to the overall design of the processingplant, the mill throughput rate and mine plan sequencing."

The results of this exploration program, together with the 2021metallurgical drill program results will be used for the geologicmodelling, updated resource models and mine planning activitiesassociated with the technical studies underway for the sulfide milloperation. The 2022-2023 exploration program expenditures areanticipated to be approximately US$15-20 million. Exploration activities, targets andexpenditures will evolve based on information and resultsobtained.

1 North-south trending faults include: Range, West Splay,Central, Albert, Break, Ice, Fire and East.
2 East-west faults include: Camel, South Brimstone, Prill andRamp.

About Hycroft Mining HoldingCorporation

Hycroft is a US-based, gold and silver company developing theHycroft Mine located in the world-class mining region ofNorthern Nevada.

FOR FURTHER INFORMATION contact info@hycroftmining.com or visitour website at www.hycroftmining.com.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" withinthe meaning of Section 27A of the United States Securities Act of1933, as amended, Section 21E of the Unites States SecuritiesExchange Act of 1934, as amended, or the Unites States PrivateSecurities Litigation Reform Act of 1995. All statements, otherthan statements of historical facts, included herein and publicstatements by our officers or representatives, that addressactivities, events or developments that our management expects oranticipates will or may occur in the future, are forward-lookingstatements, including but not limited to such things as futurebusiness strategy, plans and goals, competitive strengths andexpansion and growth of our business. The words "estimate", "plan","anticipate", "expect", "intend", "believe" "target", "budget","may", "can", "will", "would", "could", "should", "seeks", or"scheduled to" and similar words or expressions, or negatives ofthese terms or other variations of these terms or comparablelanguage or any discussion of strategy or intention identifyforward-looking statements. Forward-looking statements addressactivities, events or developments that the Company expects oranticipates will or may occur in the future and are based oncurrent expectations and assumptions.Forward-lookingstatements include, but are not limited to (i) risks related tochanges in our operations at the Hycroft Mine including risksassociated with the cessation of mining operations at the HycroftMine; uncertainties concerning estimates of mineral resources;risks related to a lack of a completed feasibility study; and risksrelated to our ability to re-establish commercially feasible miningoperations; (ii) industry related risks including fluctuations inthe price of gold and silver; the commercial success of, and risksrelated to, our development activities; uncertainties and risksrelated to our reliance on contractors and consultants;availability and cost of equipment, supplies, energy, orreagents. These risks may include the following and theoccurrence of one or more of the events or circumstances alone orin combination with other events or circumstances, may have amaterial adverse effect on the Company's business, cash flows,financial condition and results of operations. Please see our "RiskFactors" set forth our Annual Report on Form 10-K for the yearended December 31, 2021, and otherreports filed with the SEC for more information about these andother risks. You are cautioned against attributing undue certaintyto forward-looking statements. Although we have attempted toidentify important factors that could cause actual results todiffer materially from those described in forward-lookingstatements, there may be other factors that cause results not to beas anticipated, estimated or intended. Although theseforward-looking statements were based on assumptions that theCompany believes are reasonable when made, you are cautioned thatforward-looking statements are not guarantees of future performanceand that actual results, performance or achievements may differmaterially from those made in or suggested by the forward-lookingstatements contained in this news release. In addition, even if ourresults, performance, or achievements are consistent with theforward-looking statements contained in this news release, thoseresults, performance or achievements may not be indicative ofresults, performance or achievements in subsequent periods. Giventhese risks and uncertainties, you are cautioned not to place unduereliance on these forward-looking statements. Any forward-lookingstatements made in this news release speak only as of the date ofthose statements, and we undertake no obligation to update thosestatements or to publicly announce the results of any revisions toany of those statements to reflect future events ordevelopments. Further we can provide no assurance regardingthe results or findings of the drilling program or thatmineralization at the Rosebud Mine will be consistent with theHycroft property.

HYCROFT LAUNCHES LARGEST EXPLORATION PROGRAM IN NEARLY A DECADE (3)View original content to downloadmultimedia:https://www.prnewswire.com/news-releases/hycroft-launches-largest-exploration-program-in-nearly-a-decade-301587901.html

SOURCE Hycroft Mining Holding Corporation

HYCROFT LAUNCHES LARGEST EXPLORATION PROGRAM IN NEARLY A DECADE (4)

Copyright 2022 PR Newswire

Hycroft Mining (NASDAQ:HYMC)
Historical Stock Chart
From Jul 2022 to Aug 2022

Hycroft Mining (NASDAQ:HYMC)
Historical Stock Chart
From Aug 2021 to Aug 2022

HYCROFT LAUNCHES LARGEST EXPLORATION PROGRAM IN NEARLY A DECADE (7){{bbMessage.M_Alias}}{{bbMessage.MSG_Date}}{{bbMessage.HowLongAgo}}{{bbMessage.MSG_ID}}{{bbMessage.MSG_Subject}}
  • Share on Facebook Share on Twitter Share on Email

Loading Messages....

See More Message Board Posts

Loading Messages....

`, data() { return {tabs: [] }; }, created() { this.tabs = this.$children; }, methods: { selectTab(selectedTab) { this.tabs.forEach(tab => { tab.isActive = (tab.name == selectedTab.name); }); } }});Vue.component('tab', { template: `

`, props: { name: { required: true }, selected: { default: false} }, data() { return { isActive: false }; }, computed: { href() { return '#' + this.name.toLowerCase().replace(/ /g, '-'); } }, mounted() { this.isActive = this.selected; }});Vue.component('newslist', { template: `

No News, be the first to add your company releases.

`, props: { source: { required: true }, rawarticles: { required: true }, limit: { default: 12 } }, methods: {processData: function(articles){if(articles.length > this.limit){articles = articles.slice(0, this.limit);}this.articles = articles;this.loaded = true;Vue.nextTick(function(){});},stripRedudancies: function(articles){ return _.uniqBy(articles, "headline");} }, data() { return { loaded: false, articles: [] }; }, mounted() { this.processData(this.rawarticles); }});new Vue({el: '#nw-news-widget',data: {loaded: false,availableTabs: {"Press Releases": [{"headline":"Statement of Changes in Beneficial Ownership (4)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88773677\/statement-of-changes-in-beneficial-ownership-4","source":"Edgar (US Regulatory)","date":"Fri Aug 05, 2022 ","time":"4:03 PM (3 days ago)"},{"headline":"Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88763289\/prospectus-filed-pursuant-to-rule-424b3-424b3","source":"Edgar (US Regulatory)","date":"Thu Aug 04, 2022 ","time":"4:07 PM (4 days ago)"},{"headline":"Current Report Filing (8-k)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88759616\/current-report-filing-8-k","source":"Edgar (US Regulatory)","date":"Thu Aug 04, 2022 ","time":"8:34 AM (5 days ago)"},{"headline":"HYCROFT PROVIDES SECOND QUARTER 2022 OPERATING AND FINANCIAL RESULTS","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88759245\/hycroft-provides-second-quarter-2022-operating-and","source":"PR Newswire (US)","date":"Thu Aug 04, 2022 ","time":"8:00 AM (5 days ago)"},{"headline":"Quarterly Report (10-q)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88757644\/quarterly-report-10-q","source":"Edgar (US Regulatory)","date":"Thu Aug 04, 2022 ","time":"6:05 AM (5 days ago)"},{"headline":"Current Report Filing (8-k)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88614177\/current-report-filing-8-k","source":"Edgar (US Regulatory)","date":"Mon Jul 18, 2022 ","time":"11:26 AM (3 weeks ago)"},{"headline":"HYCROFT LAUNCHES LARGEST EXPLORATION PROGRAM IN NEARLY A DECADE","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88612558\/hycroft-launches-largest-exploration-program-in-ne","source":"PR Newswire (US)","date":"Mon Jul 18, 2022 ","time":"8:00 AM (3 weeks ago)"},{"headline":"HYCROFT APPOINTS ALEX DAVIDSON AS VICE PRESIDENT, EXPLORATION","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88576004\/hycroft-appoints-alex-davidson-as-vice-president","source":"PR Newswire (US)","date":"Tue Jul 12, 2022 ","time":"11:57 AM (4 weeks ago)"},{"headline":"Amended Statement of Beneficial Ownership (sc 13d\/a)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88466082\/amended-statement-of-beneficial-ownership-sc-13d-a","source":"Edgar (US Regulatory)","date":"Tue Jun 28, 2022 ","time":"6:03 AM (1 month ago)"},{"headline":"Statement of Changes in Beneficial Ownership (4)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88460927\/statement-of-changes-in-beneficial-ownership-4","source":"Edgar (US Regulatory)","date":"Mon Jun 27, 2022 ","time":"7:43 PM (1 month ago)"},{"headline":"Statement of Changes in Beneficial Ownership (4)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88306235\/statement-of-changes-in-beneficial-ownership-4","source":"Edgar (US Regulatory)","date":"Tue Jun 07, 2022 ","time":"8:56 AM (2 months ago)"},{"headline":"Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88303813\/prospectus-filed-pursuant-to-rule-424b3-424b3","source":"Edgar (US Regulatory)","date":"Tue Jun 07, 2022 ","time":"6:01 AM (2 months ago)"}],"All News": [{"headline":"Statement of Changes in Beneficial Ownership (4)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88773677\/statement-of-changes-in-beneficial-ownership-4","source":"Edgar (US Regulatory)","date":"Fri Aug 05, 2022 ","time":"4:03 PM (3 days ago)"},{"headline":"Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88763289\/prospectus-filed-pursuant-to-rule-424b3-424b3","source":"Edgar (US Regulatory)","date":"Thu Aug 04, 2022 ","time":"4:07 PM (4 days ago)"},{"headline":"Current Report Filing (8-k)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88759616\/current-report-filing-8-k","source":"Edgar (US Regulatory)","date":"Thu Aug 04, 2022 ","time":"8:34 AM (5 days ago)"},{"headline":"HYCROFT PROVIDES SECOND QUARTER 2022 OPERATING AND FINANCIAL RESULTS","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88759245\/hycroft-provides-second-quarter-2022-operating-and","source":"PR Newswire (US)","date":"Thu Aug 04, 2022 ","time":"8:00 AM (5 days ago)"},{"headline":"Quarterly Report (10-q)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88757644\/quarterly-report-10-q","source":"Edgar (US Regulatory)","date":"Thu Aug 04, 2022 ","time":"6:05 AM (5 days ago)"},{"headline":"Current Report Filing (8-k)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88614177\/current-report-filing-8-k","source":"Edgar (US Regulatory)","date":"Mon Jul 18, 2022 ","time":"11:26 AM (3 weeks ago)"},{"headline":"HYCROFT LAUNCHES LARGEST EXPLORATION PROGRAM IN NEARLY A DECADE","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88612558\/hycroft-launches-largest-exploration-program-in-ne","source":"PR Newswire (US)","date":"Mon Jul 18, 2022 ","time":"8:00 AM (3 weeks ago)"},{"headline":"HYCROFT APPOINTS ALEX DAVIDSON AS VICE PRESIDENT, EXPLORATION","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88576004\/hycroft-appoints-alex-davidson-as-vice-president","source":"PR Newswire (US)","date":"Tue Jul 12, 2022 ","time":"11:57 AM (4 weeks ago)"},{"headline":"Amended Statement of Beneficial Ownership (sc 13d\/a)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88466082\/amended-statement-of-beneficial-ownership-sc-13d-a","source":"Edgar (US Regulatory)","date":"Tue Jun 28, 2022 ","time":"6:03 AM (1 month ago)"},{"headline":"Statement of Changes in Beneficial Ownership (4)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88460927\/statement-of-changes-in-beneficial-ownership-4","source":"Edgar (US Regulatory)","date":"Mon Jun 27, 2022 ","time":"7:43 PM (1 month ago)"},{"headline":"Statement of Changes in Beneficial Ownership (4)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88306235\/statement-of-changes-in-beneficial-ownership-4","source":"Edgar (US Regulatory)","date":"Tue Jun 07, 2022 ","time":"8:56 AM (2 months ago)"},{"headline":"Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)","link":"https:\/\/ih.advfn.com\/stock-market\/NASDAQ\/hycroft-mining-HYMC\/stock-news\/88303813\/prospectus-filed-pursuant-to-rule-424b3-424b3","source":"Edgar (US Regulatory)","date":"Tue Jun 07, 2022 ","time":"6:01 AM (2 months ago)"}],"Preferred Contributors": ""}},created: function () {this.loaded = true;Vue.nextTick(function(){});}});

More Hycroft Mining Holding Corporation News Articles

You might also like

Latest Posts

Article information

Author: Merrill Bechtelar CPA

Last Updated: 10/11/2022

Views: 5535

Rating: 5 / 5 (50 voted)

Reviews: 89% of readers found this page helpful

Author information

Name: Merrill Bechtelar CPA

Birthday: 1996-05-19

Address: Apt. 114 873 White Lodge, Libbyfurt, CA 93006

Phone: +5983010455207

Job: Legacy Representative

Hobby: Blacksmithing, Urban exploration, Sudoku, Slacklining, Creative writing, Community, Letterboxing

Introduction: My name is Merrill Bechtelar CPA, I am a clean, agreeable, glorious, magnificent, witty, enchanting, comfortable person who loves writing and wants to share my knowledge and understanding with you.