Hycroft Mining Holding Corporation announced the latest drill results from its ongoing 2022-2023 exploration drill program at the Hycroft Mine, located in Nevada, a Tier-1 mining jurisdiction. Drilling focused on the existing Brimstone pit, which has long been known as only a disseminated gold deposit. The new drill results identified a new system of significant quartz veining containing very high-grade silver mineralization spanning 300 meters in strike length and remains open along strike.

Additional assays are pending from follow-up core drilling in this area. Results were received for three of the holes drilled comprising reverse circulation ("RC") and core holes: H23R-5753, H23R-5760, and H23R-5771. Key highlights include: Discovery of a new silver system at Brimstone as a result of applying a fresh perspective and following up on targets not previously tested.

H23R-5753 is Hycroft's best hole ever drilled in its more than 30-year history and is confirmed with additional follow-up core drilling. Results, when compiled with the rest of the Drill Program, indicate the presence of more significant silver mineralization than previously understood at the Hycroft Mine. Observations made during logging of RC holes H23R-5753 and H23R-5760 show an association between quartz veining and silver-bearing sulfides.

To provide better definition, the remaining holes were drilled as core holes. Detailed logging of core hole H23R-5771 confirm vein width, density, orientation, and the association of these silver-bearing minerals. Assay results from these holes also confirm the logged geology.

These holes, combined with additional drilling in the Brimstone area, are defining a trend of silver mineralization associated with northeast-trending high-angle quartz veins not previously recognized.  Additional drilling is underway to continue defining this system.