Hycroft Drills Best Hole in 40-Year History: 19.6m at 30.49 g/t Gold
HYMC has more than doubled off its 52-week low of $6.48.
Summary
Hycroft announced its best drill hole ever at the Vortex system, with record gold grades and visible gold, extending the high-grade zone and suggesting proximity to a source.
Key Events · Product Development and Regulatory · HYMC
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Record Drill Intercept at Vortex
Hole H26D-6175A returned 19.6 meters at 30.49 g/t gold and 1,726.72 g/t silver, including 1.7 meters at 347.07 g/t gold and 9,526.36 g/t silver.
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Best Hole in Company History
Highest gold grades ever reported at Hycroft; silver-equivalent grade more than 50% higher than the previous best hole; visible gold observed in the intercept.
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Extension Toward Potential Source
Intercept extends farther west and south of previously reported high-grade intercepts, suggesting proximity to a potential source of the Vortex system.
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Follow-Up Drilling Underway
Company states follow-up drilling is already underway and plans to accelerate work at the Vortex and Brimstone systems.
Analysis · HYMC · Energy & Transportation
Hole H26D-6175A at Vortex returned 19.6 meters at 30.49 g/t gold and 1,726.72 g/t silver, including a 1.7-meter interval grading 347.07 g/t gold and 9,526.36 g/t silver. This is the highest gold grade ever reported at Hycroft and the best hole in the company's 40+ year history, with visible gold observed. The silver-equivalent grade is more than 50% higher than the previous best hole. The intercept extends farther west and south of prior high-grade results, suggesting proximity to a potential source of the Vortex system. Follow-up drilling is already underway.
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At the time of this filing, HYMC was trading at $17.58 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $6.48 to $58.73. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.