Hycroft Hits Record Gold Grades at Nevada Mine, Extends Vortex Zone - News and Statistics - IndexBox

AI desk brief

Hycroft reported its best gold grades to date at the Vortex zone in Nevada, with hole H26D-6175A intersecting 19.6 metres averaging 30.49 g/t gold and 1,726.72 g/t silver, plus a narrower 1.7-metre interval grading 347.07 g/t gold and 9,526.36 g/t silver. The results extend high-grade mineralization west and south and strengthen the case for an underground option that could feed higher-value material ahead of any larger open-pit build, though economics are still under review.

BMO’s Brian Quast sees the underground route as upside and in September raised his target to $24, removing the speculative tag from his market-perform rating. He also flagged a year-end decision on heap-leach restart, with $10 million of refurbishment spending projected in 1H next year and first production in Q3, while the longer milling project is modeled to start construction in 2029 and production in 2031 with average output of about 200,000 oz gold and 6.7 million oz silver per year.