Hecla Mining gets exploration green light at its #1 Nevada project

Hecla is the top producer of silver in the U.S and Canada

Rowan Dunne

Published

1 hour ago

Hecla Mining Co (NYSE: HL) (FRA: HCL) has obtained required permits for an exploration campaign next year at its Aurora project in Nevada. The United States Forest Service has deemed the program specs to be environmentally conscious and up to par with its standards.

Hecla will be pursuing gold and silver mineralization at the property’s Polaris target area. The Aurora Mining District where the project resides has historically produced 1.9 million ounces of gold and 20 million ounces of silver.

Hecla will benefit from being able to use a processing mill within reasonable proximity to Polaris. The leading American silver producer also has four other exploratory precious metals assets nearby: Midas, Monte Cristo, Hollister and Fire Creek. In Nevada, the company’s exploration budget accounts for 22 per cent of the total prospecting budget in North America.

“We have assembled a highly prospective land package and developed targets that we believe offer excellent potential for high-grade gold and silver discoveries,” said exploration manager Kurt Allen in a news release on Dec. 1.

As specified by Hecla, previously identified zones of mineralization will be sampled at multiple near-surface and deeper targets within the land package during the campaign.

Aurora gets added to FAST-41

Hecla revealed in its November update that the Aurora project has been selected for expediting permitting through the federal Fixing America’s Surface Transportation Act (FAST) 41 program.

The gold and silver producer is aiming to get the past-producing site operating at full-scale once again. Gold and silver’s high dollar value has been providing incentive. Silver just hit a record high at over US$58 per ounce.

Receiving the Finding of No Significant Impact and Decision Notice from the USFS this week demonstrates how projects with this status advance faster. Hecla’s Libby asset in Montana has also obtained this designation.

“We are excited to begin our 2026 exploration program at Aurora, which produced some of the highest-grade gold and silver ore in Walker Lane during its historic operations,” Allen added in Monday’s announcement.

Hecla reported a 35 per cent sequential increase in revenue last quarter at US$409.5 million — a record high. This success was largely fuelled by the elevated price of silver. Hecla produced 4.6 million ounces of the precious metal during the three-month period. Additionally, adjusted EBITDA hit a record high at US$195.7 million during the quarter.

Within Nevada’s mining sector, Hecla is joined by companies pursuing exploration at projects that could potentially also qualify for FAST-41 because of their strategic importance. NevGold Corp‘s (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) Limousine Butte gold-antimony project is a notable consideration for the federal initiative.

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