Pinnacles Drilling Uncovers Massive High-Grade Silver-Lead-Zinc Zone

Exceptional High-Grade Mineralisation Confirmed

Broken Hill Mines Limited (ASX:BHM) has announced outstanding drilling results from its Pinnacles Mine in New South Wales, confirming a large and continuous zone of very high-grade silver-lead-zinc mineralisation at the Perseverance target. The mineralised zone extends over 350 metres down dip and up to 100 metres wide, with thicknesses ranging from 2 to 10 metres. Notably, some intercepts have delivered grades exceeding 1,000 grams per tonne silver equivalent (AgEq), including a standout 2.2 metres at 1,556g/t AgEq.

This discovery positions the Perseverance target as one of Australia’s highest-grade undeveloped silver systems, underscoring its strategic importance to BHM’s growth plans.

Accelerating Underground Development and Open Pit Operations

In light of these results, Broken Hill Mines is actively assessing options to expedite underground development through the construction of an exploration decline. This would enable earlier access to the high-grade mineralisation, potentially accelerating production timelines.

Simultaneously, near-surface drilling adjacent to the historical Pinnacles open pit has yielded strong silver-lead-zinc intercepts, alongside significant gold and copper mineralisation. These shallow zones are targeted for open pit mining operations scheduled to commence in the June quarter of 2026, with ore destined for processing at BHM’s Rasp Mine plant located 15 kilometres away.

Ongoing Drilling and Resource Update

BHM’s 2026 Phase 2 drilling program is well underway, with approximately 6,700 metres completed out of a planned 25,000 metres. The program aims to further delineate mineralisation extensions and infill drilling to support both open pit and underground mining studies.

Over 9,000 metres of drilled core are currently being logged, sampled, and assayed, with an updated Mineral Resource Estimate (MRE) for Pinnacles expected in the second half of 2026. The current MRE for the Pinnacles Mine stands at 6.0 million tonnes at 13.5% zinc equivalent, with the Perseverance deposit accounting for 3.5 million tonnes at 15.1% zinc equivalent and 418g/t silver equivalent.

Geological Context and Historical Significance

The Pinnacles Mine is a silver-rich Broken Hill Type sulphide deposit located about 15 kilometres southwest of the main Broken Hill lode. Mining activity at Pinnacles dates back to 1886, with intermittent underground and open cut operations. The recent discovery of the high-grade Perseverance lode has significantly enhanced the resource base.

The deposit features multiple lode horizons containing lead, zinc, silver, copper, and gold, hosted within Proterozoic rocks of the Broken Hill Block. The complex geology includes folded and sheared units, which contribute to the variability and high grades observed.

Looking Ahead

Broken Hill Mines remains on track to deliver first ore from Pinnacles to the Rasp processing plant in the June quarter of 2026. The company’s strategic focus on both open pit and underground development options, supported by robust drilling results, positions it well to unlock significant value from this polymetallic asset.