Hycroft Once Again Drills Best Hole Ever
Hycroft Mining (Nasdaq: HYMC) reports exceptional drilling results from its 2024 exploration program at the Hycroft Mine in Nevada. The highlight is Hole H24D-6018, which delivered 21.2 meters of 2,359.68 g/t silver and 0.38 g/t gold, including a remarkable section of 7.3 meters containing 6,278.23 g/t silver. This represents the best hole ever drilled at Hycroft in its 40+ year history.
The results confirm the continuity of the Brimstone high-grade silver dominant trend, extending mineralization along strike and up-dip. The presence of coarse grain argentotetrahedrite and chalcopyrite crystals suggests proximity to a magmatic source, marking a significant shift from the previous classification as a low sulfidation system.
The company completed 9,058 meters of core drilling in 2024 and ended the year with approximately $49.6 million in unrestricted cash, maintaining compliance with debt covenants. The exploration program successfully expanded two silver-dominant high-grade trends at both Brimstone and Vortex.
Hycroft Mining (Nasdaq: HYMC) riporta risultati di perforazione eccezionali dal suo programma di esplorazione 2024 presso la Mina Hycroft in Nevada. Il momento culminante è il Pozzo H24D-6018, che ha fornito 21,2 metri di 2.359,68 g/t di argento e 0,38 g/t di oro, inclusa una sezione notevole di 7,3 metri contenente 6.278,23 g/t di argento. Questo rappresenta il miglior pozzo mai perforato a Hycroft nella sua storia di oltre 40 anni.
I risultati confermano la continuità della tendenza ad alto grado di argento dominante di Brimstone, estendendo la mineralizzazione lungo il strike e verso l'alto. La presenza di cristalli di argentotetraedrite a grana grossa e calcopirite suggerisce la prossimità a una fonte magmatica, segnando un cambiamento significativo rispetto alla precedentemente classificata come un sistema a bassa sulfidazione.
L'azienda ha completato 9.058 metri di perforazione a nucleo nel 2024 e ha concluso l'anno con circa $49,6 milioni di disponibilità di cassa non vincolata, mantenendo la conformità con i vincoli di debito. Il programma di esplorazione ha ampliato con successo due tendenze ad alto grado dominate da argento sia a Brimstone che a Vortex.
Hycroft Mining (Nasdaq: HYMC) informa sobre resultados excepcionales de perforación de su programa de exploración 2024 en la Mina Hycroft en Nevada. El punto culminante es el Pozo H24D-6018, que entregó 21.2 metros de 2,359.68 g/t de plata y 0.38 g/t de oro, incluyendo una sección notable de 7.3 metros que contiene 6,278.23 g/t de plata. Esto representa el mejor pozo jamás perforado en Hycroft en sus más de 40 años de historia.
Los resultados confirman la continuidad de la tendencia dominante de plata de alta ley en Brimstone, extendiendo la mineralización a lo largo del strike y hacia arriba. La presencia de cristales de argentotetraedrita de grano grueso y calcopirita sugiere cercanía a una fuente magmática, marcando un cambio significativo desde la clasificación anterior como un sistema de baja sulfidación.
La empresa completó 9,058 metros de perforación en núcleo en 2024 y finalizó el año con aproximadamente $49.6 millones en efectivo no restringido, manteniendo el cumplimiento de los convenios de deuda. El programa de exploración expandió con éxito dos tendencias de alta ley dominadas por plata en Brimstone y Vortex.
Hycroft Mining (나스닥: HYMC)는 네바다의 Hycroft 광산에서 2024 탐사 프로그램의 뛰어난 시추 결과를 보고합니다. 하이라이트는 21.2미터의 2,359.68 g/t 은과 0.38 g/t 금을 제공한 H24D-6018 구멍으로, 6,278.23 g/t 은이 포함된 7.3미터의 특별한 구간을 포함합니다. 이는 Hycroft의 40년이 넘는 역사에서 지금까지 시추된 최고의 구멍입니다.
이 결과는 Brimstone의 고등급 은 중심 경향의 연속성을 확인하며, 광물화가 스트라이크 및 경사 방향으로 확장되고 있음을 나타냅니다. 고결정 아르겐토테트라헤드라이트 및 구리광 결정의 존재는 마그마 소스와의 근접성을 시사하며, 이전에 저황화 시스템으로 분류되었던 것과 중요한 변화를 의미합니다.
회사는 2024년에 9,058미터의 코어 시추를 완료했으며, $49.6백만의 제한 없는 현금을 보유한 채 연도를 마감했습니다. 이는 부채 계약을 준수하고 있음을 나타냅니다. 탐사 프로그램은 Brimstone과 Vortex에서 두 개의 은 중심 고급 경향을 성공적으로 확장했습니다.
Hycroft Mining (Nasdaq: HYMC) rapporte des résultats de forage exceptionnels de son programme d'exploration 2024 à la mine de Hycroft au Nevada. Le point fort est le trou H24D-6018, qui a donné 21,2 mètres de 2.359,68 g/t d'argent et 0,38 g/t d'or, y compris une section remarquable de 7,3 mètres contenant 6.278,23 g/t d'argent. Cela représente le meilleur trou jamais foré à Hycroft en plus de 40 ans d'histoire.
Les résultats confirment la continuité de la tendance argent à haute teneur de Brimstone, étendant la minéralisation le long du strike et vers le haut. La présence de cristaux d'argentotétrahydrite à grains grossiers et de chalcopyrite suggère la proximité d'une source magmatique, marquant un changement significatif par rapport à la classification précédente en tant que système à faible sulfidation.
L'entreprise a complété 9.058 mètres de forages en carottage en 2024 et a terminé l'année avec environ 49,6 millions de dollars en liquidités non restreintes, tout en respectant les engagements d'emprunt. Le programme d'exploration a réussi à étendre deux tendances argent à haute teneur à la fois à Brimstone et à Vortex.
Hycroft Mining (Nasdaq: HYMC) berichtet von außergewöhnlichen Bohrergebnissen aus seinem Erkundungsprogramm 2024 in der Hycroft Mine in Nevada. Das Highlight ist Bohrloch H24D-6018, das 21,2 Meter mit 2.359,68 g/t Silber und 0,38 g/t Gold lieferte, einschließlich eines bemerkenswerten Abschnitts von 7,3 Metern mit 6.278,23 g/t Silber. Dies stellt das beste je in Hycroft gebohrte Loch in über 40 Jahren dar.
Die Ergebnisse bestätigen die Kontinuität des hochgradigen Silbertrends von Brimstone und erweitern die Mineralisierung entlang des Streifens und nach oben. Das Vorkommen von grobkörnigen Argentotetraedrit- und Kalkpyrithkristallen deutet auf die Nähe zu einer magmatischen Quelle hin, was einen signifikanten Wandel von der vorherigen Klassifizierung als niedrig sulfidiertes System markiert.
Das Unternehmen hat 2024 insgesamt 9.058 Meter Kernbohrungen abgeschlossen und das Jahr mit etwa 49,6 Millionen USD an ungebundenen Mitteln beendet, während es die Einhaltung der Schuldenvereinbarungen aufrechterhält. Das Erkundungsprogramm hat erfolgreich zwei hochgradige Silbertrends sowohl in Brimstone als auch in Vortex erweitert.
- Record-breaking drill results with 21.2 meters of 2,359.68 g/t silver
- Confirmation of high-grade silver continuity in Brimstone trend
- Strong cash position of $49.6 million at year-end 2024
- Successful completion of 9,058 meters core drilling program
- Maintained compliance with debt covenants
- None.
Insights
The latest drilling results from Hycroft Mining represent an exceptional discovery in the Brimstone zone. The intercept of 21.2 meters at 2,359.68 g/t silver with sections reaching up to 80,017 g/t silver is remarkable for any precious metals project. To put this in perspective for non-technical readers: typical economic silver grades in many mines range from 100-300 g/t, making these results approximately 8-20 times higher than industry averages.
The presence of argentotetrahedrite and chalcopyrite minerals suggests a magmatic source, indicating this could be part of a larger mineralized system rather than just an isolated high-grade pocket. This revelation challenges the previous classification of Hycroft as a low sulfidation system and points to potentially significant untapped resources. The continuity demonstrated between holes, spaced 60 meters apart, suggests structural control of the mineralization - a positive indicator for future resource expansion.
The discovery significantly enhances Hycroft's economic potential. With
The stock's current market cap of
21.2 meters of 2,359.68 g/t silver
Multiple intervals exceeding 6,000 g/t silver
Highlights from the drilling include:
- Hole H24D-6018 was drilled to the southeast approximately 60 meters from Hole H24D-6010 designed to test the extension of Brimstone up-dip
- Robust drill results continue to confirm continuity of Brimstone high-grade silver dominant trend, extending mineralization along strike and up-dip
- See Table 1 for additional information
Brimstone drill highlights:
- H24D-6018:
21.2 meters of 2,359.68 g/t Ag and 0.38 g/t Au (30.81 g/t AuEq) Including:
- 7.3 meters of 6,278.23 g/t Ag and 0.59 g/t Au (81.55 g/t AuEq)
- including 0.2 meters of 80,017.00 g/t Ag and 1.62 g/t Au (1,033.42 g/t AuEq)
Alex Davidson, Vice President, Exploration commented: "Hole 6018 topped Hole 5753 as the best hole ever drilled at Hycroft in its more than 40-year history. The results from this Brimstone hole firmly establish high-grade continuity up-dip approximately 60 meters from Hole 6010, reported October 16, 2024. Our strategy of using a multi-disciplined approach, utilizing geochemical, structural, assay, and geophysical data collected from this year for exploration is paying off as we continue to define the geometry of Brimstone. The presence of coarse grain argentotetrahedrite and chalcopyrite crystals and aligned geochemistry from the high-grade zone suggests that Brimstone is derived from and more proximal to a magmatic source as previously mentioned in the October 16, 2024, news release. This is important because it is a significant shift from what the Hycroft deposit has been previously described as - a low sulfidation system. We are continuing to gain a clearer picture of the substantial opportunities for high-grade mineralization in the significantly under-explored Hycroft system".
Diane R. Garrett, President and CEO commented: "As we have said before – Hycroft is an untold story and the drill results to date confirm that. Hycroft was always considered a large low-grade system but the two high-grade silver dominant trend discoveries over the past year are dispelling that view. In addition to the excellent performance by our exploration team, the final metallurgical test work for the engineering study is progressing positively. Congratulations to the entire Hycroft team for concluding another year maintaining a TRIFR (total reportable injury frequency rate) of 0.00 and achieving more than 1,500 days of no lost-time-incidents ("LTI's")".
Table 1.
Significant intercepts from 2024 Drill Program, Brimstone
Gold Equivalent ("AuEq") is calculated at a gold-to-silver ratio of 77.55:1 (based on
| Hole ID | FROM | TO | INTERVAL | GRADE | ||
(meters) | (meters) | (meters) | Ag (g/t) | Au (g/t) | AuEQ (g/t) | |
Brimstone | ||||||
H24D-6018 | 73.8 | 91.4 | 17.6 | 23.68 | 0.49 | 0.79 |
Including | 74.6 | 75.0 | 0.3 | 274.00 | 1.37 | 4.90 |
222.9 | 228.8 | 5.9 | 30.53 | 0.37 | 0.77 | |
306.6 | 327.9 | 21.2 | 2,359.68 | 0.38 | 30.81 | |
Including | 317.4 | 324.7 | 7.3 | 6,278.23 | 0.59 | 81.55 |
Also Including | 317.4 | 317.6 | 0.2 | 80,017.00 | 1.62 | 1,033.42 |
Exploration Drill Program
The Drill Program was designed to improve continuity within the recently discovered high-grade silver trends (Vortex and Brimstone), extend mineralization along strike and at depth, and test new exhibiting potential for high-grade within and outside the currently known resource. Through this work, the Company hopes to develop opportunities to mine higher-grade ore early in the mine plan, thereby enhancing project economics. The Drill Program completed 9,058 meters of core drilling. The drilling is being conducted by Timberline Drilling Incorporated of Elko, NV. Assays are being completed by ALS Geochemistry of Reno, NV. The Company's Qualified Person is Alex Davidson, Vice President, Exploration.
Corporate Update
The Company has concluded the 2024 exploration drill program completing 9,058 meters of core drilling. Additional assays are pending. The program was hugely successful in continuing to expand the two-silver dominant high-grade trends at both Brimstone and Vortex. The technical team is assimilating the drill data, geophysics, mapping and surface samples to further enhance its new and evolving understanding of the Hycroft system and select prospective targets for a future drill program. The Company ended 2024 with approximately
About Hycroft Mining Holding Corporation
Hycroft Mining Holding Corporation is a US-based gold and silver company developing the Hycroft Mine, among the world's largest precious metals deposits located in northern Nevada, a Tier-One 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 the next phase of commercial operations for processing the sulfide ore. In addition, the Company is engaged in a robust exploration drill program to further expand the newly discovered high-grade dominant silver systems and unlock the full potential of this worldclass asset.
For further information, please contact:
info@hycroftmining.com
www.hycroftmining.com
Cautionary Note Regarding Forward-Looking Statements
This news release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may include, without limitation, estimates and expectations of future production, reserve estimates, exploration outlook and expected expenditure, and operational and financial performance. The exploration target does not represent, and should not be construed to be, an estimate of a mineral resource or mineral reserve, as ranges of potential tonnage and grade (or quality) of the exploration target are conceptual in nature; there has been insufficient exploration of the relevant property or properties to estimate a mineral resource; and it is uncertain if further exploration will result in the estimation of a mineral resource. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties, assumptions and other factors, which could cause actual results to differ materially from future results expressed or implied by the "forward-looking statements". Such assumptions, include, but are not limited to the key assumptions set forth on page 4 hereof. Investors are also encouraged to refer to the Company's Form 10-K for its fiscal year 2023, filed with the SEC on March 14, 2024 , as updated by Form 10-Q for the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2024 filed with the SEC on May 7, 2024, August 6, 2024, and November 5, 2024, respectively, as well as Hycroft's other SEC filings for additional information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement. Continued reliance on "forward-looking statements" is at investors' own risk.
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SOURCE Hycroft Mining Holding Corporation
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