Monster drill hits: BHM explores mine restart options at Pinnacles

• Broken Hill Mines receives high-grade silver-lead-zinc intercepts from first assays of FY26 drilling at Pinnacles
• The company is looking to upgrade the Pinnacles resource in the first half of 2026
• Phase 1 drilling is continuing and scheduled for completion in Q4
• Standout results showcase 7.3m at 21.4% ZnEq, 592g/t AgEq including 3.2m at 37.3% ZnEq and 1,031g/t AgEq 

Special report: Broken Hill Mines has struck impressive high-grade silver-lead-zinc intercepts in its first round of drilling at the Pinnacles project in Far West NSW for this financial year, beneath old workings.

Today’s results herald an opportunity of growth for the company that is revitalising a richly historic mining district. This certainly hasn’t gone unnoticed, with east coast broker Blue Ocean Equities slapping a “buy” rating on the stock last month.

With historical assays adding weight and gold-copper credits sweetening the mix, the project is also showing strong polymetallic potential.

Broken Hill Mines’ (ASX:BHM) first nine drill holes at Consols South, directly beneath and beside the Pinnacles open pit, have hit ground that’s never seen zinc mining before.

Historical operations did extract some silver and lead, but the latest drilling shows remnant ore remains.

These results are feeding into a resource update and fast-tracked plans for potential open pit mining.

So far, results from three of the nine holes are back and beginning to outline broad zones of mineralisation.

Some impressive high-grade sections include 7.3m at 21.4% ZnEq, 592g/t AgEq including 3.2m at 37.3% ZnEq and 1,031g/t AgEq  from 109.8m.

Uncovering zinc, silver, gold and copper

BHM’s drilling at Consols South is adding spark to the story, building on historical hits of unmined mineralisation right near the latest intersections.

To top it off, the company has also pulled back the curtain on previously unreleased results, giving a clearer picture of the opportunity.

These include 1.9m at 56.4% ZnEq and 1565g/t AgEq from 106.4m, 4.9m at 24.9% ZnEq and 688g/t AgEq from 106.4m and 17.5m at 23.3% ZnEq and 643g/t AgEq from 117.3m.

At Pinnacles, mineralisation is shaped by three folded zones – a silver-lead rich layer on top, underpinned by two zinc-rich zones, all laced with overprinting gold and copper.

Both recent historical work and BHM’s FY26 drilling have confirmed this structure, with gold and copper showing up within and around the zinc zones.

Importantly, strong gold assays reported in March 2025 – along with associated copper – have lifted equivalent grades and added another layer of value to the project, returning 8.9m at 54.6% ZnEq and 1537g/t AgEq from 11m, including 5.9m at 79.9% ZnEq and 2215g/t AgEq from 14m.

Drilling hits new silver zones as prices surge

BHM’s March 2025 assays are looking even better with silver’s long-term price outlook jumping from US$25 to US$35/oz, the company said.

That jump means the March 2025 assay results pack even more punch, with silver now playing a much larger role in Pinnacles’ overall value.

Diamond drilling is ongoing and so far, every hole has revealed visible mineralisation.

Drilling at the Rope Shaft and Junction Targets, just along strike from the previously reported assays, has hit multiple shallow lenses, believed to represent the silver-rich lead zone of the Pinnacles ore body.

Surveying and assays are underway with results expected in October 2025.

This article was developed in collaboration with Broken Hill Mines, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.