Back in 1883, the discovery of the Broken Hill ore body in western New South Wales launched an iconic moment in Australian mining history.
It marked the birthplace of Aussie mining titan, BHP Group Ltd (ASX: BHP).
Since then, the giant silver, zinc, and lead mine has changed hands more than a dozen times.
But all up, it has delivered more than one billion ounces of silver, 24 million tonnes of zinc, and 28 million tonnes of lead in about 140 years of production.
Fast forward to today and this famous mining project has recently found its way onto the ASX.
In essence, Broken Hills Mines Ltd (ASX: BHM) combined the producing Rasp mine with the nearby resource base at Pinnacles.
This marriage provided the catalyst for Broken Hill Mines to list on the ASX and offer investors exposure to one of Australia's most revered mining projects.
Image source: Getty Images
New beginning
Firstly, Rasp is an established mine that has been churning out zinc, silver, and lead since 2012.
Pinnacles, on the other hand, is not yet in production.
It has been privately owned by the Williams family since 1954 who continued to advance the project over the past 15 years.
This includes the discovery of the Perseverance ore body.
However, both Rasp and Pinnacles already hold a mineral resource containing silver, zinc, and lead.
Broken Hill Mines now seeks grow the existing resource base with a recently launched drilling campaign.
So far, results from this drilling have not gone unnoticed by the market.
What happened?
In September, drilling results from the first holes at Pinnacles delivered a string of shallow and rich intercepts.
Here, grades reached as high as 1,031 grams per tonne silver equivalent.
And just this week, the company upped the ante with the latest batch of assays returning "exceptional" silver grades going as high as 1,562 g/t silver equivalent.
In addition, management noted that the ongoing drilling at Pinnacles identified a zone of shallow gold and copper mineralisation.
Separately, drilling at Rasp has also been returning rich silver intercepts with grades reaching up to 2,103 g/t silver equivalent at the Main Lode ore body.
Notably, the company commenced mining and processing the ore from Main Lode just last week.
Mining of Main Lode provides a secondary high-grade feed source at Rasp, complementing the existing feed from the Western Mineralisation deposit.
Management also noted that the elevated silver grades at Main Lode could provide a revenue boost given the surging silver price.
Earlier this week, silver hit a new all-time high after breaking above US$52 per ounce for the very first time.
Running strong
The flurry of high-grade silver intercepts and production lift appears to have caught the market's attention.
Shares in Broken Hills Mines have bolted by 75% in just one month to $1.05 per share at Wednesday's close.
And in Tuesday's trading, shares in this ASX mining stock reached an all-time high of $1.10 per share.
What next for this ASX mining stock?
Moving forward, further news flow is expected throughout the year and into 2026.
The company has expanded the drilling campaign at Pinnacles by an additional 2,000 metres.
All up, it plans to drill 6,000 metres with conclusion of the programme pencilled in for the fourth quarter of this year.
In the meantime, results from 43 holes at Perseverance and its vicinity are already pending.
Results from this drilling will be used to compile an updated mineral resource estimate for Pinnacles, expected in the first half of 2026.
And at Rasp, the company plans to ramp up of ore feed from Main Lode in the coming months.
This represents a key initiative in the group's strategy of moving its processing plant towards full capacity.
