Hycroft Mining Holding Corporation announced that it has hired RESPEC Company LLC to evaluate underground mining options for its high‑grade silver systems at the Brimstone and Vortex deposits in Nevada. The engagement will cover mining methods, conceptual mine design, and schedule development, with an internal report expected in the second quarter of 2026.
The study will also assess the feasibility of an exploration decline that would provide direct drill access to the silver zones. The Brimstone system lies only 30 meters below the existing open pit, making a decline a practical way to initiate underground drilling and potentially enable early production while the company builds its pressure‑oxidation mill.
Hycroft’s resource expansion last year added 55% to its measured and indicated gold and silver resources, and the Brimstone and Vortex zones contain high‑grade silver with silver‑to‑gold ratios of 600:1 and 3,000:1. Intercepts at Vortex include 33.70 grams per tonne gold and 2,890 grams per tonne silver over 0.9 meters, underscoring the economic potential of underground development.
The company’s CEO, Diane R. Garrett, said the appointment of RESPEC will help assess the potential to develop a decline giving the company direct access to its new high‑grade silver deposits. She added that the Brimstone system’s proximity to the open pit “will allow us to consider an underground drilling program as well as give us early production options,” and that the company looks forward to the findings of the engineering report in the coming months.
Hycroft’s strong cash position—approximately $189 million in unrestricted cash and no debt—provides the financial flexibility to support the technical study without immediate financing pressure. The engagement is part of a broader strategy to generate cash flow early, reduce initial capital requirements, and complement the company’s ongoing exploration and technical program.
Investors responded positively to the announcement, citing the strategic engineering engagement, technical progress, and the company’s inclusion in the VanEck Junior Gold Miners ETF as key drivers of the market reaction.
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