Hycroft Mining Holding Corporation (NASDAQ: HYMC) announced that Chief Executive Officer Diane R. Garrett has assumed the additional role of Executive Chairman. Garrett will continue serving as CEO while taking on the expanded responsibilities.

The Winnemucca, Nevada-based gold and silver development company said the appointment follows a board review and is part of a leadership transition. The company also initiated a process to appoint three additional independent directors.

Thomas Weng, the former chairman, will continue as Lead Independent Director. The company recently appointed Eric Colby as Executive Vice President of Corporate Development and expects to make additional senior management hires in coming months.

"Taking on the role of Executive Chairman alongside my responsibilities as Chief Executive Officer is a huge privilege and reflects the Board's confidence in our strategy and direction," Garrett said in a statement. She noted the expanded role would strengthen alignment across the company as it advances the Hycroft Mine.

Hycroft owns the Hycroft Mine in northern Nevada. The company announced the discovery of two new high-grade silver systems within its known resource area in 2023 and is conducting a drill program through 2026 designed to expand these systems. The company is also working on technical studies to transition the mine from oxide heap leach operations to a milling operation for processing sulfide mineralization.

The information was provided in a company press release.