Hycroft bonanza grades at Vortex: underground start-up lens for mine planners
Reviewed by Tom Sullivan

First reported on MINING.com
30 Second Briefing
Hycroft Mining has reported its highest-grade intercept yet at the Vortex zone in Nevada, with hole H26D-6175A cutting 19.6 m at 30.49 g/t gold and 1,726.72 g/t silver from 416.5 m, including 1.7 m at 347.07 g/t gold and 9,526.36 g/t silver from 433.2 m. The result extends high-grade mineralisation west and south, supporting studies of an underground start-up ahead of a $3.4 billion large-scale milling project modelled by BMO Capital Markets. Respec is designing a conceptual underground mine and ramp access, while Hatch and Hazen Research are testing concentrate-processing options and heap-leach restart scenarios.
Technical Brief
- Vortex–Brimstone high-grade domains host 18.1 Mt M&I at 0.512 g/t Au and 154.71 g/t Ag.
- Contained metals total about 299,000 oz Au and 90.2 Moz Ag in the January resource.
- Respec’s mandate includes a conceptual underground mine layout plus ramp design for drilling and future haulage.
- Ramp access is being evaluated to both improve drill geometry and potentially support early underground production.
- Hatch is assessing concentrate-processing routes, with detailed metallurgical testwork undertaken by Hazen Research in Colorado.
- Underground concept targets saleable concentrate to third parties; recovery factors and offtake terms remain under evaluation.
- Heap-leach restart decision is targeted by year-end, with ~$10 million refurbishment modelled for H1 next year.
- BMO’s scenario assumes heap-leach first production in Q3 next year, though Hycroft has not endorsed this schedule.
- For the large milling project, BMO models 2029 construction start, 2031 first production and 51-year mine life.
- Long-life mill case is modelled at ~200,000 oz/y Au and 6.7 Moz/y Ag, funded by ~$2.7 billion debt plus $1.2 billion equity.
Our Take
The 51‑year mine life and US$3.4 billion Nevada build flagged here lines up with a later scoping article in our database that pegs Hycroft Mining’s gold‑silver operation at a post‑tax NPV of about US$10 billion, suggesting these bonanza intercepts could materially de‑risk the long‑duration POX/heap‑leach development case.
Hycroft Mining Holding’s repeated appearance at the top of MINING.COM’s Global Mining Power Rankings in early 2026, alongside majors like Agnico Eagle and Rio Tinto, indicates that despite current share price volatility the market is already treating this Nevada gold‑silver asset as a strategically significant long‑life play.
With measured and indicated resources at the Hycroft project dominated by silver grade (over 150 g/t) and a forecast 6.7 million oz. per year silver profile, the bonanza gold hits at depth could shift future mine planning towards more gold‑rich domains, improving revenue mix without necessarily changing the large‑scale silver narrative highlighted in our later coverage.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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