HYCROFT MINING REPORTS 55% GROWTH IN MINERAL RESOURCES

By Chris Stiles • Wednesday, February 18 11:43 • Permanent Link

Hycroft Mining Holding Corporation (NASDAQ: HYMC) has reported a 55% growth in mineral resources, with the updated mineral resource estimate (MRE) showing 16.4 million gold ounces and 562.6 million silver ounces (M+I). The initial high-grade silver resource is reported at 90.2 million silver ounces (M+I).

The company's metallurgy results demonstrate robust recoveries of 83% for gold and 78% for silver. These figures reflect a significant increase since the last period, and the company attributes this growth to improved metallurgical performance and results from 70 drill holes, among other factors.

The MRE is based on a flowsheet utilizing milling and pressure oxidation for sulfide and certain transition mineralization, as well as heap leaching process for oxide and other transition mineralization.

Additionally, the company is evaluating a roasting process alternative, which could potentially provide a third revenue stream through the by-product production and sale of sulfuric acid needed in the lithium, copper, and fertilizer industries. The initial desktop analysis indicates that operating costs and capital costs could be comparable to a pressure oxidation (POX) process.

The technical report was prepared in accordance with the reporting requirements of the United States Securities and Exchange Commission (SEC), and the MRE supersedes Hycroft’s initial assessment filed on March 27, 2023.

Hycroft Mining Holding Corporation is a US-based gold and silver company exploring and developing the Hycroft mine, located in northern Nevada. The company is focused on completing technical studies to transition the Hycroft mine into a milling operation for processing the sulfide ore. Additionally, the company is engaged in an exploration drill program to unlock the full potential of its expansive +64,000-acre land package.

For further information, the company can be contacted via email at [email protected] or through their website www.hycroftmining.com. The market has reacted to these announcements by moving the company's shares 0.12% to a price of $34.63. If you want to know more, read the company's complete 8-K report here.

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