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Hycroft Mining Announces Year End 2023 Operating and Financial Results
WINNEMUCCA, Nev., March 14, 2024 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or "the Company") announces operating and financia
About this update from Hycroft Mining Holding Corporation
[{"type":"text","content":" WINNEMUCCA, Nev., March 14, 2024 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) (\"Hycroft\" or \"the Company\") announces operating and financial results for three and 12 months ended December 31, 2023. Diane R. Garrett, Hycroft President & CEO, commented: \"The year culminated in a significant step-change for the Hycroft Mine, following two years of steady, meticulous work by the team. We always believed there was more to the Hycroft deposit than what was previously understood, and by taking a fresh look at the data and target development we have made the discovery of not one but two new high-grade silver trends within the known resource area. This is incredibly exciting for the future of Hycroft and we intend to accelerate drilling in 2024 to continue expanding on these discoveries.\" Ms. Garrett continued: \"We cannot wrap up the year without emphasizing the commitment of our team to ensuring the health and safety of everyone at site. Throughout the year Hycroft's stellar safety record was recognized through numerous industry accolades and we closed out the year having completed two full calendar years with a Total Recordable Injury Frequency Rate of zero. Additionally, we advanced the engineering studies for the next phase of operations and delivered robust metallurgical results demonstrating significant improvements in recoveries for both gold and silver. Overall, a strong year that added meaningful value to this world-class asset.\" 2023 YEAR-END HIGHLIGHTS Operational Highlights New high-grade silver discoveries: In late 2023, Hycroft announced the discovery of a new silver system at Brimstone as a result of reviewing historical data with a fresh perspective and completing necessary ground-based geologic work to identify what controls the mineralization at Hycroft. Drilling at depth intercepted the best hole ever drilled at Hycroft (H23R-5753 returning 85.3 meters of 534.29 g/t Ag – see news release dated November 16, 2023, for more details). In addition, as a result of further drilling, two new high-grade silver trends were delineated with well-defined, continuous high-grade veins averaging greater than 137 g/t, including areas of very high-grade (> 2000 g/t Ag) (see news release dated January 9, 2024, for details). These discoveries represent a significant new value driver for the ...