Exploration & Discovery

The Exploration Drill Program

Beginning in 2022, the Company undertook a focused, multi-disciplinary review of the project: compiling and reassessing decades of historical drilling data, reinterpreting the structural controls on mineralization, and integrating hyperspectral imaging, geophysics, and field mapping. After nearly two years of intensive technical work, the team identified new drill targets exhibiting potential for high-grade — and the first hole drilled returned significant high-grade silver — the best hole ever drilled in Hycroft's more than 40-year history.

This work led to the discovery of two high-grade silver systems — Brimstone and Vortex — which materially and fundamentally changed the understanding of the Hycroft deposit from its long history of a large low-grade resource to one with high-grade discovery potential. Drilling at both Brimstone and Vortex have continued to return exceptionally high-grade silver results, ranging from over 100 g/t to multi-thousand g/t silver over significant widths and recently encountering high-grade gold intercepts up to 33 g/t.

After the initial 8,000 meter drill program, Hycroft delivered an initial resource of approximately 100 million ounces which set the foundation for an expanded drill program in 2025-2026 of 26,000 meters utilizing two core drill rigs increasing to four. Drill results continue to return significantly high-grades in both systems and demonstrate they remain open in all directions and at depth. The Company has identified additional potential opportunities within its land position.