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Broken Hill Mines Hits High-Grade Zinc, Silver at Pinnacles
Broken Hill Mines reports high-grade zinc-silver intercepts from Pinnacles Phase 2 drilling, supporting open-pit viability as zinc and silver prices rally.
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Broken Hill Mines (ASX: BHM) has reported high-grade lead, zinc, and silver intercepts from Phase 2 drilling at the Pinnacles mine in New South Wales, with assays from 29 drill holes confirming broad, shallow mineralisation immediately under and adjacent to the historical open pit.
Best results include 3.8 metres at 31.5% zinc equivalent and 873 grams per tonne silver equivalent from 77 metres, plus 14.4 metres at 20.3% zinc equivalent and 561 g/t silver equivalent from 69.3 metres. Gold-copper assays returned 5.6 metres at 3.2 g/t gold and 0.2% copper from 87 metres, and 10 metres at 1.6 g/t gold and 0.3% copper from 111 metres.
The company said the results support open-pit mining during current market conditions, with zinc at US$3,800 per tonne and silver rebounded to US$64 per ounce. The 25,000-metre Phase 2 extensional and infill campaign is "progressing strongly", according to Broken Hill Mines, and will inform its analysis of open-pit versus underground options.