NASDAQ: HYMC
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Mineral Resources

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

Technical Report

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