Hycroft Mining said new drilling at its Vortex target returned a high-grade silver-gold interval led by 0.9 meters grading 2,890.00 grams per tonne silver and 33.70 grams per tonne gold, or 67.26 grams per tonne gold equivalent.
The company said hole H25D-6083 cut 53.4 meters averaging 304.14 grams per tonne silver and 1.33 grams per tonne gold, or 4.86 grams per tonne gold equivalent. Within that interval, it reported 7.0 meters grading 1,241.97 grams per tonne silver and 6.59 grams per tonne gold, or 21.01 grams per tonne gold equivalent.
Hycroft said the hole was designed to test the structural intersection of the Break and Albert faults and that it encountered a previously unknown structure before reaching the full target depth. The company said the results point to new prospective ground at depth and along strike, and that follow-up drilling has been planned.
The company also said it ended the first quarter of 2026 with about $189 million in unrestricted cash and no debt. During the quarter, it recorded about $33.8 million in pre-tax expenses tied to board-approved compensation actions, including restricted stock unit make-whole awards, related cash payments, and a one-time bonus for named executive officers and certain other employees. Cash used for those actions totaled about $19.4 million.
Hycroft said two additional core rigs are expected to arrive in the coming months as it expands drilling at Vortex and Brimstone. Following these announcements, the company's shares moved -9.54%, and are now trading at a price of $31.18. If you want to know more, read the company's complete 8-K report here.
