Saving Grace
4 days ago
Hycroft is excited to introduce its latest consideration for the next phase of operations: a roasting process to potentially produce sulfuric acid from Hycroft's sulfide ore. This breakthrough could unlock significant revenues by supporting lithium production and green electricity co-generation. In a future powered by batteries, lithium is quickly becoming one of the most valuable commodities on the planet. 🌎
“The market for sulfuric acid is in high demand due to the lithium industry and the transition towards green energy, electric vehicles, and renewable energy storage. Paired with the significant gold and silver resources we have, sulfuric acid with co-generation of electricity could be an excellent complimentary by-product that could establish Hycroft within the supply chain for the clean energy transition.” - Diane Garrett, Hycroft President & CEO.
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$1.2Billion invested infrastructure, preparing for massive commercial operation. Mine will process 50-60 thousand tons of ore daily.
A second Refinery is on site with everything in place. This is a massive commercial operation. SMG massive conveyor system in place.
Hycroft is expected to have a workforce of over 500 when it's said a done. All infrastructure is prepared, in place and ready.
Hycroft Mine Expansion Winnemucca, Nevada
SMG provided conceptual, final mechanical and structural engineering and design of belt conveyors including transfer structures and chutes. A fast-track schedule and changing priorities required quick SMG responses to complete engineering on schedule.
http://www.smgengr.com/material-handling-systems.html
A fast-track schedule and changing priorities required quick SMG responses to complete engineering on schedule.
Massive belt conveyors including transfer structures and chutes.
CEO Diane Garrett said; We have a tremendous amount of infrastructure already on site at Hycroft Mining Holding Corporation – infrastructure that, if planned and purchased today, would exceed well over a billion dollars. That advantage means we’re ahead of the curve of a typical developer.
https://www.linkedin.com/company/hycroftmining
SMG massive conveyor system.
http://www.smgengr.com/material-handling-systems.html
Hycroft Mining: Infrastructure and Equipment Owned by Hycroft
Hycroft Mine CEO Dr. Diane Garrett
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Saving Grace
5 days ago
2025 is expected to be a defining year as we near critical milestones - completing the technical studies for the next phase of operation and refining drill targets to continue adding value to the Hycroft mine. With precious metals showing remarkable strength, Hycroft stands uniquely positioned with its world-class Nevada asset. With less than 10% of our 64,000+-acre property explored, our high-grade discoveries continuing to expand, existing infrastructure on-site and major mining permits in hand, we are well advanced compared to other development companies, and we are excited about the opportunities ahead in this robust precious metals environment.
The new management team was assembled in the Fall of 2020 and inherited a substantial debt burden that it has reduced by $101 million (principal and cash interest over the period). However, as the Company believes the remaining debt with paid-in-kind interest continues to be an overhang on the Company's share price and the valuation of its assets, it is continuing to explore a number of strategic and financial alternatives to address its balance sheet. Management and the holders of the subordinated notes, as well as other third-parties, have been and continue to work closely and collaboratively on a number of alternatives for restructuring the debt and future funding requirements. Alternatives may include a restructuring of the Company's debt obligations, obtaining additional equity financing, joint ventures, or merger and acquisition transactions. With respect to transactions of this nature, there can be no assurances that any such transaction will occur or, if it does, the terms and timing thereof. In particular, the terms of any such transaction may be dilutive to our existing equity holders and at prices below the Company's current share price. The Company has not set any timetable for a particular transaction to address the significant amount of debt on its balance sheet and does not intend to disclose further developments unless and until its Board approves a specific action.
2024 HIGHLIGHTS
Corporate Highlights
Safety: Hycroft has maintained a 0.00 TRIFR for over two years, operating over 1.2 million man hours without a Lost Time Incident. During the third quarter, Hycroft was awarded the 2024 Operator Safety Award for small surface mines by the Nevada Mining Association. Also in 2024, Hycroft was awarded the Mine Safety & Health Administration (MSHA) Certificate of Achievement in Safety.
Environmental: Through 2024, Hycroft maintained an impeccable environmental record and was recognized as stewards of successful reclamation.
Balance Sheet: The Company ended the year with unrestricted cash of $49.6 million and total debt of $125.0 million.
Operational Highlights
Exploration: The 2024 drill program was launched in February 2024 (the "2024 Drill Program"), to build on the high-grade silver dominant trends identified in late 2023. The objective of the 2024 Drill Program was to define the structural framework of these new trends, establish continuity and expand the Brimstone and Vortex trends, and identify new target areas of potential high-grade. All objectives were successful, and the 2024 drill program was expanded during the year with 9,058 meters of drilling being completed as of December 31, 2024. Final assays from three holes were pending at year-end. In addition to extending the high-grade silver trends up and down-dip, the technical team has identified new target areas as potential extensions of these silver trends. With less than 10% of the Company's land position explored, there is tremendous further exploration potential.
Technical Studies: During the year ended December 31, 2024, the Company advanced the metallurgical and engineering work necessary for designing a sulfide milling operation including testing composite samples from around the ore body that represent the various material characteristics in the sulfide ore, crushing, grinding, and flotation work which has identified significant improvements in gold and silver flotation recoveries compared to the current technical report that increase the economic benefits to the project, identifying the optimal inputs and operating parameters for roasting, pressure oxidation, leaching, sulfuric acid generation, and power co-generation. During 2024, the Company also completed the future tailing storage facility designs needed to extend material storage capacity and comply with safety and environmental regulations for these facilities. Final metallurgical testwork for roasting will be completed mid-year as part of the trade-off studies to assess whether roasting technology could offer superior economics compared to pressure oxidation ("POX") technology for the Hycroft Mine. Other technical work components to be completed in 2025 include process plant equipment selection, plant layout, water management, and other designs, with an anticipated technical report with economics being published in late 2025. Due to the potential significant quantity of by-product sulfuric acid expected to be generated from roasting the sulfide concentrate, the Company engaged a third-party specialist that completed a focused sulfuric acid market study that identified a viable market with potential customers and pricing assumptions.
The Company's Annual Report on Form 10-K for the period ended December 31, 2024, was filed March 5, 2025, and is available at www.sec.gov/edgar. See "Cautionary Note Regarding Forward-Looking Statements" below.
Like I already stated, 2025 Deliverables! CEO Diane Garrett is way ahead of the pack. Silver value is soon to reflect 12% of the price of Gold which now sits at only 1% of the price of Gold at $3300. Silver should be $396 Oz compared to Gold. Everything is changing and going back to the way it was in the past. The real squeeze will be in Silver.
Saving Grace
5 days ago
It's already been many years! Stop Lying! 2025 Deliverables means Deliverables! SMH
Phase 2 of its 2022-2023 exploration drill program.
Hycroft Mining Finds Elevated Silver Across the Hycroft System in Phase 2 Drilling
Ms. Diane Garrett reports:
WINNEMUCCA, Nev., Oct. 23, 2023 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or "the Company") announces interim drill results for the Camel and Vortex zones from Phase 2 of its 2022-2023 exploration drill program (the "Drill Program") at the Hycroft Mine. Drilling is ongoing and additional results are pending. Results to date are achieving the objectives of the Drill Program designed to improve continuity of the higher-grade intercepts, fine tune the sequencing of the mine plan, and for the first time in more than a decade, test exploration targets outside the currently known resource.
Highlights from the drilling include:
The Hycroft system continues to expand with mineralization extending the Camel and Vortex zones.
Vortex continues to deliver very high-grade silver at depth extending mineralization 300 meters to the west.
More silver in the Camel zone than anticipated and higher silver grades near surface.
Drill results from Vortex are 15 times higher than the average silver resource grade1.
Vortex Drill Highlights (see Figure 1):
H23C-5770: 51 m of 0.50 g/t Au and 139.87 g/t Ag
Including 18 m of 0.31 g/t Au and 288.83 g/t Ag
Including 11 m of 1.29 g/t Au and 138.48 g/t Ag
H23C-5769: 60 m of 0.36 g/t Au and 75.91 g/t Ag
Including 18 m of 0.55 g/t Au and 211.89 g/t Ag
Camel Drill Highlights (see Figure 2 and Figure 3):
H23R-5759: 204 m of 0.53 g/t Au and Ag
Including 41 m of 0.49 g/t Au and 75.81 g/t Ag
H23R-5785: 49 m of 0.50 g/t Au and 43.60 g/t Ag
Including 12 m of 0.59 g/t Au and 161.16 g/t Ag
H23R-5786: 75 m of 0.36 g/t Au and 41.20 g/t Ag
Including 30 m of 0.29 g/t Au and 106.01 g/t Ag
H23R-5786: 52 m of 0.43 g/t Au and 44.99 g/t Ag
Including 8 m of 0.49 g/t Au and 266.72 g/t Ag
Alex Davidson, Vice President, Exploration, commented: "The Phase 2 program included two core holes following up on the success of previous drilling at Vortex and returned intervals 15 times greater than the average silver grade in the 2023 resource estimate1. Both holes show continuity of high-grade silver connecting to the high-grade silver intercepts drilled in 2022 and extend this mineralization 300 meters west. Results from these holes indicate the high-grade silver mineralization will likely continue extending west towards Camel, potentially bridging the two zones."
In Figure 1 below, holes H23C-5770 and H23C-5769 were both core holes, of which H23C-5769 was drilled to confirm reverse circulation ("RC") drill hole H22R-5700 drilled in 2022. Through additional review of the data, the intercept at H22R-5700 now stands at 21 m of 685 g/t Ag versus the previously reported 55 m of 396 g/t Ag. The data demonstrates continuity of high-grade silver mineralization extending west.
RC drilling in the Camel zone intercepted mineralization well outside the known resource cone (see Figure 2) as well as visible silver (see Figure 3). Silver mineralization was encountered in areas with limited silver assay data. These results are expected to have a positive impact on the resource model.
Mr. Davidson continued: "The Phase 2 drilling campaign in the Camel zone focused on converting inferred resources to measured or indicated and areas with limited drilling predominantly to the indicated category. We are very pleased with the results, which are higher grade than reflected in the current model. Particularly exciting are the significantly elevated silver grades near surface seen in the Camel zone, as well as grades that are higher than anticipated as these areas previously had limited assays for silver. These initial results will significantly help to enhance the economics for the 2024 pre-feasibility study. The drilling has extended mineralization to the south and indicates additional exploration potential exists south of the known resource."
Commenting on the drill results, Diane Garrett, President & CEO, stated: "The increased amount of silver mineralization and higher grades observed at both Vortex and Camel are incredibly encouraging. While we know we already have a substantial silver resource at Hycroft, these findings provide further validation that Hycroft has a meaningful leverage to strong tailwinds we expect to see in the silver market fueled by the shift towards greener energy such as solar panels, and lower carbon technologies. It is clear that silver will play a pivotal role here, making our exploration efforts all the more promising."
Table 1
Significant intercepts from Phase 2 Drill Program, interim results – Vortex Zone
About the 2022-2023 exploration drill program
The drill program is designed to improve the understanding of the higher-grade intercepts, better understand the mineralization controls, and test exploration targets outside the currently known resource. Through this work the Company hopes to develop opportunities to mine higher-grade ore early in the mine plan enhancing the project's economics. The 2022-2023 exploration drill program at the Hycroft Mine comprises approximately 30,000 m of RC drilling and approximately 7,500 m of core drilling. The RC drilling for Phase 2 was conducted by Boart Longyear of West Valley City, UT, and Alford Drilling of Elko, NV, and core drilling for Phase 2 is being conducted by Timberline Drilling Incorporated of Elko, NV. Assays are being completed by Paragon Geochemical of Reno, NV. The Company's Qualified Person is Alex Davidson, Vice President, Exploration.
Hycroft Mine CEO Dr. Diane Garrett
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Saving Grace
5 days ago
Stop Lying! That's not what the report said.
Published: April 10, 2024 |
Hycroft Mine Exploration Shows New Potential at Its Silver Mine in Nevada
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
https://miningconnection.com/longwall/news/article/hycroft_mine_exploration_shows_new_potential_at_its_silver_mine_in_nevada/
Hycroft Mine CEO Dr. Diane Garrett
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Saving Grace
6 days ago
Yes, $1.2Billion invested infrastructure, preparing for massive commercial operation. Mine will process 50-60 thousand tons of ore daily.
A second Refinery is on site with everything in place. This is a massive commercial operation. SMG massive conveyor system in place.
Hycroft is expected to have a workforce of over 500 when it's said a done. All infrastructure is prepared, in place and ready.
Hycroft Mine Expansion Winnemucca, Nevada
SMG provided conceptual, final mechanical and structural engineering and design of belt conveyors including transfer structures and chutes. A fast-track schedule and changing priorities required quick SMG responses to complete engineering on schedule.
http://www.smgengr.com/material-handling-systems.html
A fast-track schedule and changing priorities required quick SMG responses to complete engineering on schedule.
Massive belt conveyors including transfer structures and chutes.
CEO Diane Garrett said; We have a tremendous amount of infrastructure already on site at Hycroft Mining Holding Corporation – infrastructure that, if planned and purchased today, would exceed well over a billion dollars. That advantage means we’re ahead of the curve of a typical developer.
https://www.linkedin.com/company/hycroftmining
SMG massive conveyor system.
http://www.smgengr.com/material-handling-systems.html
Hycroft Mining: Infrastructure and Equipment Owned by Hycroft
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