Hycroft is one of the largest gold and silver deposits in the world.
With the current resource representing only 5% of our land position, we believe there is significant opportunity to increase this world-class scale deposit as the mineralization remains open in all directions and at depth. In the past, there was no systematic exploration effort to understand the genesis of this unique asset, including exploring for potential feeder systems.
Hycroft Mine Mineral Resources at March 27, 2023
| Classification | Approximate Cutoff, Equiv Gold gm/t |
Ktonnes | Gold gm/tonne |
Silver gm/tonne |
Sulfide Sulfur % |
Contained Ounces | |
|---|---|---|---|---|---|---|---|
| Gold Ozs x 1000 |
Silver Ozs x 1000 |
||||||
| Heap Leach Resources | |||||||
| Measured | 0.07 | 85,424 | 0.274 | 5.72 | 2.14 | 753 | 15,725 |
| Indicated | 0.07 | 54,206 | 0.250 | 4.32 | 1.78 | 436 | 7,529 |
| Meas + Ind | 0.07 | 139,630 | 0.265 | 5.17 | 2.00 | 1,189 | 23,254 |
| Inferred | 0.07 | 41,838 | 0.2250 | 4.86 | 1.62 | 337 | 6,549 |
| Flotation Mill + Concentrate Treatment by POX and Cyanide Leach | |||||||
| Meaured | 0.34 | 365,361 | 0.445 | 17.09 | 1.78 | 5,236 | 200,965 |
| Indicated | 0.34 | 314,171 | 0.411 | 13.49 | 1.58 | 4,156 | 136,445 |
| Meas + Ind | 0.34 | 679,532 | 0.429 | 15.43 | 1.69 | 9,391 | 337,410 |
| Inferred | 0.34 | 226,341 | 0.414 | 12.29 | 1.52 | 3,019 | 89,568 |
| Combined Mineral Resources, Leach Plus Mill | |||||||
| Measured | 0.07 - 0.34 | 450,785 | 0.413 | 14.93 | 1.85 | 5,989 | 216,690 |
| Total Indicated | 0.07 - 0.34 | 368,377 | 0.387 | 12.14 | 1.61 | 4,592 | 143,974 |
| Total Meas + Ind | 0.07 - 0.34 | 819,162 | 0.401 | 13.68 | 1.74 | 10,581 | 360,664 |
| Total Inferred | 0.07 - 0.34 | 268,179 | 0.389 | 11.14 | 1.54 | 3,356 | 96,117 |
Notes:
- Mineral resources based on metal prices of $1,900/troy oz Au and $24.50/troy oz Ag.
- Cutoffs are income – process cost = NPR = NSR – Process OpEx.
- Numbers may not match exactly due to rounding.
- Mineral resources are contained within a computer-generated optimized pit.
- All units are metric. Gold and silver grades are in grams / metric ton
Economic Parameters Used For Resource Estimation
| Assumptions: | |||
|---|---|---|---|
| Unit of measure | Value | ||
| Gold price | $/oz | $1,900 | |
| Silver price | $/oz | $24.50 | |
| Mining cost, base* | Per ton material moved | $1.45 | |
| Mill Process Recoveries: | |||
| Flotation recovery – gold | % of AuFA | 80.0% | |
| Flotation recovery – silver | % of AgFA | 80.0% | |
| Flotation recovery – sulfide | % of sulfide sulfur | 85.0% | |
| Mass pull | % | 14.0% | |
| Concentrate leach recovery | % | 95.0% | |
| Overall recovery, mill | % | 76.0% | |
| ROM Leach Recoveries: | |||
| Gold (oxide, transition & sulfide) | % of AuCN | 75.0% | |
| Silver (oxide, transition & sulfide) | % of AgFA | 12.2% | |
Notes:
**Source: Initial Assessment Technical Report Summary, dated March 27, 2023.
| Process costs: | ||
| Comminution | Per ton of feed to float plant | $3.99 |
| Flotation | Per ton of feed to float plant | $3.68 |
| Process (fixed costs) | Per ton of feed to float plant | $0.51 |
| Leach, CCD, Detox (fixed costs) | Per ton of feed to float plant | $0.43 |
| Total Mill Cost | Per ton of feed to float plant | $8.61 |
| ROM Leach (Oxide) | Per ton of feed to ROM Leach | $2.75 |
| ROM Leach (Transitional & Sulfide) | Per ton of feed to ROM Leach | $3.15 |
| Mine Site G&A | Per ton of feed | $0.44 |
| Flotation Concentrate Treatment Costs: | ||
| Assumed sulfide grade in feed | % | 1.80% |
| Ton sulfide sulfur/ton concentrate | Ton/ton | 0.1093 |
| Consumable unit cost/ton sulfur | $/ton sulfide sulfur in concentrate | $339.07 |
| POX consumable cost per ton | $/ton concentrate | $27.74 |
| Total POX treatment cost | $/ton concentrate | $14.11 |
| Total POX treatment cost | $/ton of ore | $4.24 |
| Total Process Costs (at avg sulf sulfur): | ||
| Mill + Concentrate POX + G&A | $/ton ore flotation | $14.83 |
| ROM leach + G&A (oxide) | $/ton of ore to ROM leach | $3.19 |
| ROM leach + G&A (transition & sulfide) | $/ton of ore to ROM leach | $3.59 |