Hycroft is an affiliate of Granges Inc. (TSE) that operates the Lewis and Crofoot mines, 50 miles west of Winnemucca. Those mines are expected to produce about 80,000 oz gold this year.
Hycroft recently signed an exploration and option-to-purchase agreement for its new gold prospect with Four Nines Gold of Riverton, Wyo.
Richard Kopp, vice-president of Four Nines Gold, said Hycroft’s offer was selected because Hycroft is already mining in the vicinity of its property.
“In our estimation they have the best incentive to place the property into production if an economic deposit is discovered,” he stated.
Hycroft expects to begin drilling the property within the next several weeks.
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