A US$1-million deep drilling program is planned by Hycroft Resources and Development (TSE) for its Crofoot mine project near Winnemucca, Nev.
According to Hycroft, the first stage of the drill program is aimed at exploring the existing open cut for possible high-grade gold mineralization. The open pit deposit is part of a large epithermal system and the company’s consultants have advised that deep drilling is warranted.
Hycroft, which operates the adjacent Crofoot and Lewis heap leach mines in Nevada, is owned 59% by Granges (TSE). Both companies are headed by Colin Kaiser, who replaced Mike Muzylowski as president and chief executive officer earlier this year.
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