Breakthrough Minerals Extends Turpentine with 5m at 3.21% CuEq

High-grade copper-gold results extend Turpentine’s reach at Breakthrough Minerals

On 1 September 2026, Breakthrough Minerals released a second batch of assay results from its ongoing resource expansion drilling program at the Turpentine Deposit in North Queensland, building on the strong initial results announced on 6 August 2026. Three new holes — 26TUR005, 26TUR006, and 26TUR007 — have all returned significant copper-gold mineralisation outside the existing Mineral Resource envelope, reinforcing the continuity and resource growth potential of the Turpentine mineralised system.

The headline result from this release is 26TUR005: 5m @ 3.21% CuEq (2.96% Cu, 0.31g/t Au) from 137m downhole. Supporting that is 26TUR006, which returned 12m @ 0.87% CuEq (0.77% Cu, 0.12g/t Au) from 235m, including 4m @ 1.42% CuEq from 236m. The broadest intersection came from 26TUR007: 26m @ 0.63% CuEq (0.53% Cu, 0.12g/t Au) from 249m, including 15m @ 0.99% CuEq from 254m.

Nigel Broomham, Managing Director, Breakthrough Minerals Limited

“These latest results continue to build confidence in the scale and quality of the Turpentine mineralised system, with multiple holes now returning significant copper-gold intersections. Importantly, 26TUR005 has delivered a further high-grade intersection of 5 metres at 3.21% CuEq. This continues the pattern of high-grade zones we’ve seen emerging from this program. 26TUR007 is also particularly encouraging, returning a broad 26-metre mineralised interval including 15 metres at approximately 1% CuEq, demonstrating the combination of width and grade that we are looking for as we systematically test this system.”

Q1 FY27 drilling results at a glance

The table below summarises significant intercepts reported to date from the current Turpentine drilling campaign (26TUR001 through 26TUR007, excluding pending results from 26TUR004, 26TUR008, and 26TUR009). All intercepts are downhole lengths; estimated true widths are approximately 75–95% of downhole length.

What copper equivalent grade means for investors

When a deposit contains more than one valuable metal — as Turpentine does with both copper and gold — comparing results hole to hole becomes complicated. Different metals have different prices and different recovery rates, which makes a straight comparison of raw grades misleading. CuEq, or copper equivalent grade, solves this by converting all metal values into a single number expressed as if everything were copper.

Here is how to think about it in three steps:

1. What CuEq is: A single grade figure that combines the economic contribution of both copper and gold into one comparable number, expressed as a percentage.
2. How it is calculated: BTM uses metal prices of USD9,773/t for copper and USD3,300/oz for gold, with recoveries of 91.2% for copper and 68.6% for gold. The gold value is converted into its copper-equivalent contribution using these figures.
3. Why grade and width together matter: A narrow, very high-grade intercept and a broad, moderate-grade intercept can deliver similar total metal content. For resource growth, the combination of both — what management is specifically targeting at Turpentine — is what drives the case for upgrading or expanding a Mineral Resource estimate.

Turpentine’s place in a 200,000-tonne copper-gold resource base

Turpentine sits within BTM’s broader North Queensland Copper-Gold Project (NQCGP), a portfolio of copper-gold deposits across North Queensland with a combined resource inventory of 200,000 tonnes of contained CuEq. Understanding Turpentine’s weight within that portfolio is important context for the drilling results.

Turpentine — the largest deposit in the portfolio

The NQCGP resource base, verified from Table 3 in the source announcement, breaks down as follows:

• Turpentine: 8.7Mt @ 1.16% CuEq for 101,000t contained CuEq (Inferred)
• Turpentine South and Eight Mile Creek North: 3.0Mt @ 0.79% CuEq for 23,000t contained CuEq (Indicated)
• Barbara: 6.5Mt @ 0.97% CuEq for 63,000t contained CuEq (Measured and Indicated)
• Mt Colin: 0.6Mt @ 2.13% CuEq for 13,000t contained CuEq (Measured, Indicated, and Inferred)
• Total NQCGP: 200,000t contained CuEq

Turpentine’s Mineral Resource is entirely classified as Inferred — the earliest confidence category under the JORC Code. All new drill results from the current program sit outside the existing resource model, meaning every successful assay has direct potential to support a future resource upgrade or extension. That is precisely what makes this drilling campaign strategically significant.

Systematic testing builds a stronger geological picture

The current Turpentine drilling program involves an initial approximately 4,000m campaign designed to test the interpreted northern down-plunge continuation of the mineralised system beyond the existing resource boundary. The targeting is hypothesis-driven, informed by gravity inversion modelling and magnetic data — not speculative step-out drilling.

Three holes, consistent results

Each new hole adds a distinct piece to the geological picture:

• 26TUR005 returned a high-grade hit at a relatively shallow depth of 137m, confirming that high-grade copper-gold zones persist to the north of the existing resource model.
• 26TUR006 confirmed mineralisation continuity at depth (approximately 235m), with a narrower but solidly graded intersection demonstrating the system does not pinch out laterally.
• 26TUR007 delivered the broadest intersection of the three at 26m, providing evidence of the width-and-grade combination management is specifically targeting as a driver of resource growth.

The earlier holes from the program also continue to strengthen the picture. Results from 26TUR002 and 26TUR003, first announced on 6 August 2026, were extended with subsequent assays confirming 26TUR002: 17m @ 1.24% CuEq (including 6m @ 2.18% CuEq) and 26TUR003: 19m @ 1.03% CuEq (including 9m @ 1.84% CuEq and 4m @ 2.83% CuEq). Across seven holes, the program is consistently returning significant copper-gold intersections — that pattern of consistency is what builds geological conviction.

What comes next for BTM’s North Queensland campaign

Drilling at Turpentine remains ongoing, with further assay results from the current program pending and expected to be reported progressively. The forward program extends well beyond Turpentine:

• A further approximately 2,500m RC drilling program is planned across the broader Hazel Creek Copper-Gold Project
• Priority targets for that program include Turpentine South, Eight Mile Creek North, and Eight Mile Creek East
• All programs form part of BTM’s broader approximately 10,000m 2026 exploration campaign across the NQCGP
• The overarching objective is to grow the existing 200,000t CuEq NQCGP resource inventory

For investors tracking BTM, the pipeline of pending assays combined with the planned RC program means news flow from the North Queensland campaign is expected to continue. This is not a single-announcement story. The systematic, hypothesis-driven approach means each subsequent result either reinforces or refines the geological model — and with Turpentine’s entire resource classified as Inferred, there is meaningful scope for that model to grow.

Ready to Explore the Turpentine Deposit’s Resource Growth Potential?

Breakthrough Minerals’ ongoing North Queensland drilling campaign is consistently delivering high-grade copper-gold intersections outside the existing Mineral Resource envelope, with results like 5m @ 3.21% CuEq reinforcing the scale and continuity of the Turpentine system. With the entire Turpentine resource classified as Inferred and further assays pending, the scope for resource expansion remains substantial.

Dig deeper into BTM’s North Queensland Copper-Gold Project by visiting the Breakthrough Minerals investor profile on Discovery Alert, where you can track the latest announcements and assess the full investment case. With a 10,000m 2026 exploration campaign underway, the news flow from this program is only just getting started.