Hycroft Extends High-Grade Silver at Brimstone
Rhea-AI Summary
Hycroft (Nasdaq: HYMC) reported new 2025-2026 drill results at the Brimstone silver system, including 542.78 g/t Ag over 35.5 m, 1,187.29 g/t Ag over 14.8 m, and a 21,833 g/t Ag grab over 0.4 m.
Step-out drilling extended high-grade silver approximately 150 m deeper, confirmed structural continuity and stockwork veining, and left the system open laterally and at depth. Some assays from 2026 remain pending.
Positive
- Step-out extension of high-grade silver ~150 meters deeper
- 35.5 m at 542.78 g/t silver establishes structural continuity
- 14.8 m at 1,187.29 g/t silver high-grade intercept
- Ultra-high grade 21,833 g/t Ag over 0.4 m reported
- Stockwork veining and fluid pathways consistent with Brimstone system
- Ongoing drill program with multiple core rigs deployed
Negative
- One 2025 Vortex hole assay remains pending
- Several highest-grade intervals are very narrow (0.3–0.4 m)
Key Figures
Market Reality Check
Peers on Argus
Peer moves appear mixed, pointing to a stock-specific catalyst. Among close peers, GLDG shows a positive move of ~1.06%, while USAU is down ~1.12% and others show smaller gains. Only one peer (GLDG) appears in the momentum scanner, reinforcing that HYMC’s reaction is primarily tied to its own exploration results rather than a broad sector swing.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 03 | 10-K & update | Positive | -13.0% | Filed 2025 10-K with debt-free status and strong cash balance. |
| Feb 18 | Resource update | Positive | +21.1% | Updated Technical Report with ~55% M&I resource growth for gold and silver. |
| Dec 22 | Vortex drilling | Positive | +49.3% | Reported high-grade Vortex drill intercepts expanding silver mineralization. |
| Dec 15 | Vortex expansion | Positive | -2.5% | Initial 2025–2026 drill results with highest Vortex silver grades to date. |
| Dec 05 | Stake transfer | Neutral | -1.5% | AMC transferred most of its Hycroft stake to Sprott Mining for $24.1M. |
Recent drilling and technical updates often read positively, but price reactions have been mixed, with both sharp rallies and notable selloffs around resource and corporate updates.
Over the last six months, Hycroft has focused on resource growth, high‑grade silver discoveries, and balance sheet strength. On Feb 18, 2026, an updated Technical Report showed 16.4M oz gold and 562.6M oz silver in Measured & Indicated resources and was followed by a 21.07% gain. Earlier Vortex silver drill updates on Dec 15 and Dec 22, 2025 delivered very high grades, but price reactions ranged from -2.46% to +49.33%. The 2025 10‑K and corporate update on Mar 3, 2026 highlighted strong cash and a debt‑free balance sheet yet saw a -12.97% move, underscoring volatility around news.
Regulatory & Risk Context
An effective shelf amendment filed on Oct 24, 2025 registers 14,017,056 existing shares for resale and up to 7,008,528 warrant shares. Warrants are exercisable at $6.00, which, if fully exercised for cash, would raise $42,051,168 for Hycroft to advance the mine and for general purposes. Resales by existing holders do not provide proceeds to the company.
Market Pulse Summary
This announcement underscores continued success intersecting very high‑grade silver at Brimstone, with intercepts like 542.78 g/t over 35.5 m and localized zones above 20,000 g/t. In recent months, Hycroft has combined similar exploration updates with a much larger resource base and a strong cash position but remains pre‑production. Investors tracking this story may focus on how ongoing drilling, technical studies, capital structure (including registered shares and warrants), and future economic analyses translate these grades into a viable development plan.
Key Terms
stockwork veining technical
net smelter return royalty financial
heap leach technical
AI-generated analysis. Not financial advice.
542.78 g/t silver over 35.5 meters
Including 1187.29 g/t silver over 14.8m and 21,833 g/t silver over 0.4m
358.15 g/t silver over 11.2 meters
Including 662.03 g/t silver over 5.8m 7,330 g/t silver over 0.3m
See video interview with Alex Davidson, VP Exploration discussing drill results: https://youtu.be/gxSBI8WcXZQ
Drilling Highlights: (See appendix for full drill results and accompanying figures)
- Confirmed the Brimstone silver system extends approximately 150 meters deeper than previously identified and remains open at depth and in lateral extensions (see Figures 1 and 3)
- Encountered the presence of strong mineralized fluid pathways and stockwork veining commonly associated with the high-grade Brimstone system (see Figure 3)
- Step-out drilling expanded the known area of high-grade silver mineralization (see Figure 2)
- Confirmed the structural model interpretation of the high-grade system
Diane Garrett, President and CEO commented: "These latest drill results are very exciting and continue to demonstrate the scale and potential of the targets we are exploring. With every hole we drill, our understanding grows, and the broader story continues to unfold. We remain focused and disciplined as we carry out the important work ahead to fully unlock Hycroft's potential."
Table 1. Drill Intercept Highlights (See Table 2 for all drill results)
| Hole ID | FROM | TO | INTERVAL | GRADE | |||
(meters) | (meters) | (meters) | Ag (g/t) | Au (g/t) | AgEQ (g/t) | AuEQ (g/t) | |
Brimstone | |||||||
H25D-6069 | 270.1 | 302.5 | 32.4 | 184.58 | 0.33 | 212.68 | 2.47 |
Including | 285.0 | 289.2 | 4.2 | 1,185.25 | 0.98 | 1,269.48 | 14.74 |
H25D-6077 | 313.0 | 348.6 | 35.5 | 542.78 | 0.25 | 564.64 | 6.56 |
Including | 326.8 | 341.6 | 14.8 | 1,187.29 | 0.19 | 1,203.61 | 13.98 |
Also Including | 340.2 | 340.6 | 0.4 | 21,833.00 | 0.07 | 21,839.03 | 253.61 |
Brimstone Geophysics Anomaly | |||||||
H25D-6074 | 581.1 | 588.7 | 7.6 | 24.86 | 0.05 | 29.17 | 0.34 |
H25D-6075 | 505.5 | 516.8 | 11.2 | 358.15 | 0.09 | 365.51 | 4.24 |
Including | 505.5 | 511.3 | 5.8 | 662.03 | 0.12 | 672.03 | 7.80 |
Also Including | 511.0 | 511.3 | 0.3 | 7,330.00 | 0.76 | 7,395.44 | 85.88 |
Alex Davidson, Vice President, Exploration commented: "We are extremely pleased with the continued high-grade results from Brimstone. These holes were designed in part to confirm the modeling of the high-grade structural controls and expand the known high-grade mineralization. H25D-6069 (a 35-meter step out hole from H24D-6018 which returned 21.2 meters of 2,359.68 g/t silver) tested the southern portion of the high-grade zone along the upper margin and returned substantial grade demonstrating the southern end of Brimstone remains open. Notably, H25D-6077 (a 50-meter offset hole of H24D-6010 returning 18.2 meters of 1,987.35 g/t silver) returned an intercept of 35.5 meters of 542.78 g/t silver firmly establishing high-grade and structural continuity.
Drill holes 6074, 6075, and 6075X were completed within the Induced Polarization ("IP") geophysics anomaly to test the down-dip extension of the Brimstone high-grade silver system targeting the fluid pathway and stockwork veining. The holes were drilled in a zone between the east-west trending structures (MD_AD and Nicholes faults) in close proximity to the IP anomaly. All three holes showed strong geochemical signatures, silver mineralization, and stockwork veining consistent with the high-grade silver mineralization observed at the Brimstone system. Results confirm Brimstone remains open at depth and laterally."
The farthest step out hole, H25D-6075, drilled approximately 150 meters down-dip from the high-grade Brimstone system, returned 11.2 meters of 385.15 g/t silver, confirming the extension of high-grade mineralization at depth. Holes H25D-6074 and H25D-6075X (wedge / directional drilling hole of H25D-6075) also returned anomalous silver grades and displayed alteration and geochemical markers commonly associated with alteration from a magmatic intrusion indicating we are still in an intermediate sulfidation system. This is consistent with the high-grade Brimstone geochemistry and alteration package observed to date.
Drilling is continuing to test the deeper portions of the Brimstone system including the potential feeder target. In addition, the lateral extents of the Brimstone system remain open. These ongoing efforts are intended to further define and scale the continuity of the Brimstone system.
A total of 11 holes were completed in 2025 (7 in Brimstone and 4 in Vortex) and all assays have been received with the exception of one Vortex hole that is pending. To date in the 2026 drill program, 6 core holes have been completed (4 in Brimstone and 2 in Vortex) with assays pending. There is currently one core rig at Brimstone and one core rig at Vortex with two additional core rigs arriving over the next few months.
About Hycroft Mining Holding Corporation
Hycroft Mining Holding Corporation is a US-based gold and silver company exploring and developing the Hycroft Mine, among the world's largest precious metals deposits, located in northern
For further information, please contact:
E: info@hycroftmining.com
www.hycroftmining.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in this press release and in public statements by our officers or representatives that address activities, events or developments that we expect or anticipate will or may occur in the future are forward-looking statements. These include, but are not limited to, statements regarding future business strategy, plans and goals, competitive strengths, the advancement and development of the Hycroft Mine, the results and implications of metallurgical analysis and test work, and the expansion and growth of our business.
Forward-looking statements are often identified by future or conditional words such as "estimate," "plan," "anticipate," "expect," "intend," "believe," "target," "budget," "may," "can," "will," "would," "could," "should," "seeks," "scheduled to" and similar words or expressions but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements. The risks include, but are not limited to: (i) risks related to changes in our operations at the Hycroft Mine, including risks associated with the cessation of mining operations at the Hycroft Mine; uncertainties concerning estimates of mineral resources; risks related to the lack of a completed feasibility study; risks related to metallurgical test work and process development; and risks related to our ability to re-establish commercially feasible mining and processing operations; and (ii) industry-related risks, including fluctuations in the price of gold and silver; the commercial success of, and risks related to, our exploration and development activities; uncertainties and risks related to our reliance on contractors and consultants; and the availability and cost of equipment, supplies, energy or reagents.
Any exploration target described in this press release does not represent, and should not be construed to be, an estimate of a mineral resource or mineral reserve. Ranges of potential tonnage and grade (or quality) of an exploration target are conceptual in nature; there has been insufficient exploration of the relevant property or properties to estimate a mineral resource; and it is uncertain if further exploration will result in the estimation of a mineral resource.
These and other risks may cause actual results to differ materially from those expressed or implied by the forward-looking statements, and the occurrence of one or more of these events or circumstances, alone or in combination with others, may have a material adverse effect on our business, cash flows, financial condition and results of operations. Please see the "Risk Factors" outlined in our Annual Report on Form 10-K for the year ended December 31, 2025, and in other reports filed with the SEC, for more information about these and other risks.
Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. Although we have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Although these forward-looking statements are based on assumptions that we believe are reasonable when made, forward-looking statements are not guarantees of future performance and actual results, performance or achievements may differ materially from those made in or suggested by the forward-looking statements in this press release.
Any forward-looking statements made in this press release speak only as of the date of this press release. We undertake no obligation to update these forward-looking statements or to publicly announce the results of any revisions to any of those statements to reflect future events or developments, except as required by law.
APPENDIX
Table 2 – Full Drill Results
| Hole ID | FROM | TO | INTERVAL | GRADE | |||
(meters) | (meters) | (meters) | Ag (g/t) | Au (g/t) | AgEQ (g/t) | AuEQ (g/t) | |
Brimstone | |||||||
H25D-6069 | 56.7 | 69.2 | 12.5 | 81.39 | 0.13 | 92.58 | 1.08 |
H25D-6069 | 109.6 | 125.4 | 15.8 | 6.09 | 0.59 | 56.90 | 0.66 |
H25D-6069 | 164.9 | 305.8 | 140.9 | 49.63 | 0.28 | 73.74 | 0.86 |
Including | 270.1 | 302.5 | 32.4 | 184.58 | 0.33 | 212.68 | 2.47 |
Also Including | 285.0 | 289.2 | 4.2 | 1,185.25 | 0.98 | 1,269.48 | 14.74 |
H25D-6077 | 127.1 | 148.4 | 21.3 | 5.76 | 0.49 | 47.95 | 0.56 |
H25D-6077 | 190.2 | 211.2 | 20.9 | 4.60 | 0.34 | 33.88 | 0.39 |
H25D-6077 | 232.7 | 349.6 | 116.9 | 167.84 | 0.28 | 191.95 | 2.23 |
Including | 313.0 | 348.6 | 35.5 | 542.78 | 0.25 | 564.64 | 6.56 |
Also Including | 326.8 | 341.6 | 14.8 | 1,187.29 | 0.19 | 1,203.61 | 13.98 |
Also Including | 340.2 | 340.6 | 0.4 | 21,833.00 | 0.07 | 21,839.03 | 253.61 |
Brimstone Geophysics Anomaly | |||||||
H25D-6074 | 85.8 | 153.9 | 68.0 | 7.73 | 0.23 | 27.54 | 0.32 |
H25D-6074 | 244.8 | 261.3 | 16.5 | 5.35 | 0.39 | 38.93 | 0.45 |
H25D-6074 | 485.2 | 508.3 | 23.1 | 3.29 | 0.28 | 27.40 | 0.32 |
H25D-6074 | 581.1 | 588.7 | 7.6 | 24.86 | 0.05 | 29.17 | 0.34 |
H25D-6075 | 5.8 | 105.6 | 99.8 | 7.16 | 0.21 | 25.24 | 0.29 |
H25D-6075 | 505.5 | 516.8 | 11.2 | 358.15 | 0.09 | 365.51 | 4.24 |
Including | 505.5 | 511.3 | 5.8 | 662.03 | 0.12 | 672.03 | 7.80 |
Also Including | 511.0 | 511.3 | 0.3 | 7,330.00 | 0.76 | 7,395.44 | 85.88 |
H25D-6075X | 568.0 | 591.5 | 23.5 | 6.81 | 0.11 | 15.89 | 0.18 |
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SOURCE Hycroft Mining Holding Corporation
FAQ
What were the key Brimstone drill results announced by Hycroft (HYMC) on March 16, 2026?
How far did Hycroft (HYMC) extend the Brimstone high-grade silver system with the latest drilling?
Do the March 16, 2026 Hycroft (HYMC) drill results confirm structural continuity at Brimstone?
Are there any remaining pending assays from Hycroft's (HYMC) 2025-2026 drill program?
How should investors view the very high but narrow silver intervals reported by Hycroft (HYMC)?
