Hycroft hits bonanza gold grades at Nevada mine

AI desk brief

Hycroft Mining reported its highest gold grades yet at the Vortex zone in Nevada, with hole H26D-6175A cutting 19.6m at 30.49 g/t gold and 1,726.72 g/t silver from 416.5m, including 1.7m at 347.07 g/t gold and 9,526.36 g/t silver. The company says the result extends high-grade mineralization and may support a potential underground mine, though economics for that option are still unestablished.

The broader restart story remains capital-intensive: BMO’s Brian Quast previously lifted his target to $24/share and is modelling a restart decision on heap leaching by year-end, with potential first production in Q3 next year and a much larger milling project starting in 2029. Hycroft’s indicated and measured high-grade domains contain 90.2Moz silver and 299koz gold, while the stock fell 7.2% Wednesday after the update.