Breakthrough Minerals Hits 3.75% CuEq at Turpentine as North Extension Opens Up

BTM extends Turpentine copper-gold system north with high-grade drilling results

Breakthrough Minerals has reported three new drill results from its Turpentine Deposit in North Queensland, with hole 26TUR009 returning 5m @ 3.75% CuEq (3.07% Cu, 0.84g/t Au) from 252m — the highest-grade intersection from this phase and the northernmost hole drilled at Turpentine to date. All three new holes (26TUR004, 26TUR008, 26TUR009) confirmed further copper-gold mineralisation extending north beyond the existing resource model.

The result reinforces one of the clearest performance signals from this program: every one of the nine holes drilled by BTM at Turpentine in 2026 has intersected copper mineralisation. A dedicated reverse circulation (RC) rig is expected to recommence drilling next week, targeting further northern extensions.

The three new headline intercepts are:

• 26TUR004: 9m @ 1.59% CuEq from 262m, including 5m @ 2.62% CuEq from 263m
• 26TUR008: 24m @ 0.46% CuEq from 271m, including 3m @ 0.99% CuEq from 271m
• 26TUR009: 14m @ 1.57% CuEq from 251m, including 5m @ 3.75% CuEq from 252m

Nigel Broomham, Managing Director

“These latest results continue to strengthen our confidence in the scale and continuity of the Turpentine mineralised system. Importantly, every hole drilled by BTM at Turpentine this year has intersected copper mineralisation, with multiple holes returning broad zones containing materially high-grade copper-gold intervals.”

Drilling results in detail — what the three new holes revealed

26TUR004 — multiple mineralised zones confirmed at depth

The headline intercept from 26TUR004 was 9m @ 1.59% CuEq (1.36% Cu, 0.29g/t Au) from 262m, including a high-grade sub-interval of 5m @ 2.62% CuEq (2.23% Cu, 0.48g/t Au) from 263m.

Beyond the primary intersection, the hole returned two additional mineralised zones: 4m @ 0.76% CuEq from 277m and 9m @ 0.42% CuEq from 291m. The announcement notes this indicates the potential of a broader mineralised package at this location than previously interpreted.

26TUR008 — broader zone demonstrates system continuity

26TUR008 returned 24m @ 0.46% CuEq (0.41% Cu, 0.06g/t Au) from 271m, including 3m @ 0.99% CuEq (0.82% Cu, 0.20g/t Au) from 271m. The 24m width is the standout feature here. Even where grade is moderate, a coherent intersection of that length signals a continuous, connected mineralised system rather than isolated pods.

26TUR009 — northernmost hole, highest grade

26TUR009 is the northernmost extensional hole drilled at Turpentine to date, and it delivered the strongest result from this phase of drilling: 14m @ 1.57% CuEq (1.30% Cu, 0.34g/t Au) from 251m, including 5m @ 3.75% CuEq (3.07% Cu, 0.84g/t Au) from 252m. The fact that the highest-grade result comes from the furthest-north hole provides the clearest evidence yet that mineralisation continues beyond the existing Mineral Resource boundary.

Source: Table 1, BTM ASX Announcement 15 September 2026. All intercepts are downhole lengths; true widths estimated at approximately 75–95% of downhole length.

What is copper equivalent grade and why does it matter for investors?

Copper equivalent grade, or CuEq, is a standardised metric that combines multiple metal grades — in this case copper and gold — into a single comparable number. It allows investors to assess the economic value of a mineralised interval without needing to separately track two different commodity prices and recovery rates.

BTM calculates CuEq using copper at USD9,773/t and gold at USD3,300/oz, with assumed recoveries of 91.2% for copper and 68.6% for gold. The formula converts gold’s contribution into its copper-equivalent weight, then expresses the total as a percentage grade. Three points worth understanding:

1. Gold adds meaningful economic value — even a modest gold grade alongside copper can materially lift the CuEq figure, improving project economics compared to a pure copper system.
2. CuEq enables apples-to-apples comparison — you can directly compare the grade of one interval against another, or benchmark against industry peers, regardless of which metals are present.
3. Grade context matters — the 3.75% CuEq returned by 26TUR009 is a high-quality result by industry standards for copper-gold systems of this type, and sits well above the deposit’s current resource grade of 1.16% CuEq.

Building toward a larger resource — the strategic picture

Turpentine’s position within the broader North Queensland project

Turpentine is BTM’s largest single deposit, hosting an Inferred Mineral Resource Estimate (MRE) of 8.7Mt @ 1.16% CuEq for 101,000 tonnes of contained CuEq. That resource sits within BTM’s broader North Queensland Copper-Gold Project, which carries a total resource base of 200,000 tonnes of contained CuEq across all deposits, as reported in the MRE announced 30 October 2025.

The broader portfolio includes the Barbara Deposit (6.5Mt @ 0.97% CuEq for 62,000 tonnes contained CuEq), Mt Colin (600,000t @ 2.13% CuEq for 13,000 tonnes contained CuEq), and the Turpentine South and Eight Mile Creek North deposits (3.0Mt @ 0.79% CuEq for 23,000 tonnes contained CuEq). Turpentine’s scale and grade profile make it the centrepiece of the company’s resource growth strategy.

What comes next — RC drilling and the Hazel Creek pipeline

The near-term program is well defined. As at the announcement date of 15 September 2026, BTM’s planned activity sequence is:

1. RC drilling restarts at Turpentine next week, targeting the northern down-plunge extension of the mineralised system beyond the existing Mineral Resource envelope
2. Further assay results expected from early October 2026, to be reported progressively as received
3. A further ~2,500m RC drilling program is planned across broader Hazel Creek targets: Turpentine South, Eight Mile Creek North, and Eight Mile Creek East
4. All programs form part of BTM’s broader ~10,000m 2026 exploration campaign across the North Queensland Copper-Gold Project

The investment case — consistent results, growing confidence

The pattern emerging from Turpentine is worth examining clearly. Key points from the 2026 drilling program to date:

• 9 from 9: Every hole drilled by BTM at Turpentine in 2026 has intersected copper mineralisation — a consistency rate that is difficult to dismiss.
• Both scale and grade: Multiple holes are returning broad mineralised intervals alongside discrete, high-grade sub-intervals, demonstrating the system has width as well as quality.
• Open to the north: The northern extension remains open. 26TUR009 — the furthest-north hole drilled — returned the highest grade from this phase, a combination that directly supports further extension potential.
• Prior results reinforce the pattern: Previously reported standout results include 26TUR002 (17m @ 1.24% CuEq), 26TUR003 (19m @ 1.03% CuEq), and 26TUR005 (5m @ 3.21% CuEq).
• Near-term catalysts: RC rig restart, October assay results, and the broader Hazel Creek drilling campaign provide a clear sequence of upcoming news flow.

The earlier high-grade Turpentine results, including standout intervals from holes 26TUR002 and 26TUR003, established the grade continuity pattern that the latest northern extensional holes are now reinforcing across a wider spatial footprint.

Nigel Broomham, Managing Director

“Turpentine remains our largest deposit and a key focus of our strategy to grow the existing 200,000-tonne contained CuEq resource base across the North Queensland Copper-Gold Project.”

Ready to Learn More About the Turpentine Copper-Gold Deposit?

Breakthrough Minerals continues to demonstrate exceptional drilling consistency at Turpentine, with every 2026 hole intersecting copper mineralisation and the northernmost hole delivering the highest-grade result of the programme at 5m @ 3.75% CuEq.

With an RC rig set to restart imminently and further assay results expected from October, the news flow pipeline remains active — explore Breakthrough Minerals’ full North Queensland project profile on Discovery Alert to assess the broader investment case.