Breakthrough Minerals Commences Drilling Program at Barbara Copper-Gold Project

Breakthrough Minerals Limited (ASX: BTM) has wasted no time transitioning from acquisition to active exploration, commencing its maiden diamond drilling program at the Barbara Copper-Gold Project just three weeks after completing the North Queensland Copper-Gold Project acquisition. The 1,500-metre initial drilling program at Breakthrough Minerals targets high-grade copper-gold extensions that could significantly expand the project's existing 63,000 tonnes of contained copper equivalent within the broader 200,000-tonne global resource base.

The speed of execution demonstrates management's commitment to rapid value creation, with drilling operations targeting down-plunge extensions of copper-gold mineralisation at Barbara North and South. These targets include areas below previously reported high-grade intersections of 17 metres at 2.5% copper, 5 metres at 3.8% copper, and 6 metres at 2.1% copper – all of which terminated in or near mineralisation, suggesting significant expansion potential.

Strategic Targeting of High-Grade Extensions

The drilling program at Breakthrough Minerals follows a systematic approach designed to maximise near-term resource growth potential. Priority targets focus on depth extensions below known high-grade intersections where previous holes terminated in mineralisation, providing compelling geological rationale for resource expansion.

Furthermore, the strategic approach incorporates multiple target areas to optimise discovery potential across the broader deposit structure.

Key Target Areas:

• Barbara North Extension: Testing down-plunge continuity of the Barbara Shear Zone
• Barbara South Depth Extensions: Exploring mineralisation below current drilling footprint
• BARC071 Follow-up: Priority target 100 metres north of Barbara North Pit with 2.0 metres at 2.1% copper from 148 metres

The BARC071 intersection represents a particularly compelling target, occurring along the same shear structure controlling mineralisation at both Barbara North and South deposits. This intersection has received no follow-up drilling since first reported, making it a high-priority component of the current program.

Management Perspective on Program Execution

"To be turning the first drill rods at Barbara within four weeks from completing the acquisition of the North Queensland Copper-Gold Project is a genuine achievement, and a clear signal of the Company's intent. Barbara is a cornerstone asset within our portfolio. It already hosts a well-defined copper-gold Mineral Resource on a granted Mining Lease, and the geology tells us very clearly that this system continues at depth."

– Nigel Broomham, Managing Director

Advanced Targeting with Electromagnetic Surveys

The drilling program at Breakthrough Minerals incorporates sophisticated targeting techniques, with selected holes scheduled for downhole electromagnetic (EM) surveys upon completion. This approach will help identify and prioritise additional EM conductor targets sitting outside the current Mineral Resource boundary, providing direct input for follow-up drilling campaigns.

Moreover, the integration of EM technology demonstrates a methodical approach to exploration, potentially uncovering new mineralised zones that could further expand the resource base beyond current geological models. In addition, this technical approach maximises the value of each drill hole through comprehensive subsurface mapping.

Understanding Copper Equivalent: A Key Metric for Investors

Copper equivalent (CuEq) represents the combined value of copper, gold, and silver within an ore body, expressed as a single copper percentage. This metric allows investors to easily compare the total metal value across different deposits and mining projects.

For instance, the Queensland Copper-Gold Project's copper equivalent calculation incorporates specific recovery rates and current metal pricing to provide accurate economic assessment.

For the Queensland Copper-Gold Project, the copper equivalent calculation incorporates:

• Copper recovery: 91.2%
• Gold recovery: 68.6%
• Metal prices: USD $9,773/tonne copper, USD $3,300/ounce gold

This standardised measurement helps investors understand the true economic value of multi-metal deposits, making it easier to assess project economics and compare different opportunities within the copper-gold space.

Barbara Project Resource Profile and Expansion Potential

The Barbara Copper-Gold Project currently hosts a substantial resource base that forms approximately one-third of the Queensland Copper-Gold Project's global Mineral Resource. However, the deposit's characteristics highlight significant expansion potential that the drilling program at Breakthrough Minerals aims to unlock.

The resource remains open down-plunge and at depth, with the 2026 drilling program focused on both expanding the resource base and upgrading resource classification from Inferred to higher-confidence categories.

Geological Advantages Supporting Expansion

Geological Advantages:

• Located on granted Mining Lease ML90241
• 700-metre strike length with 400-metre vertical extent
• Up to 30-metre horizontal width
• Iron-sulphide copper-gold deposit (ISCG) classification
• Hosted within proven Barbara Shear Zone structure

These characteristics provide a solid foundation for the systematic expansion campaign currently underway through the company's strategic drilling initiatives.

Broader Exploration Pipeline: Lillymay and Beyond

Following completion of the initial Barbara drilling program, operations will extend to the Lillymay Prospect as part of a broader 4,500-metre exploration campaign across 2026. Consequently, the Lillymay Prospect presents compelling targets with previous drilling returning 3 metres at 7.41% copper from 106 metres – an intersection that remains open along strike and down-dip.

Lillymay Exploration Highlights:

• Clear copper anomaly identified through soil geochemistry
• Spatially coincident with airborne and ground EM anomalies
• NW-SE trending structural control confirmed
• Multiple untested EM conductors identified
• Additional prospects Mount Olive and Spectre earmarked for follow-up

Furthermore, the systematic approach to near-mine exploration demonstrates the project's potential for multiple discovery zones within the broader structural corridor. This provides numerous opportunities for resource growth beyond the current Barbara deposit.

Multiple Discovery Zones Potential

The broader exploration strategy recognises that successful mineral systems often occur in clusters along favourable structural corridors. Therefore, the drilling program at Breakthrough Minerals represents just the beginning of a comprehensive exploration campaign designed to unlock multiple value centres across the extensive tenure package.

Investment Thesis: Rapid Execution Meets Resource Growth Potential

Breakthrough Minerals has positioned itself as an execution-focused copper-gold developer in one of Australia's premier mining regions. The company's ability to commence drilling operations just three weeks after acquisition completion demonstrates operational excellence and management commitment to rapid value creation.

Key Investment Drivers:

1. Immediate Catalyst Potential: Drilling targets areas where previous holes terminated in mineralisation
2. Resource Expansion Opportunity: Current 63,000-tonne copper equivalent resource at Barbara represents only one-third of global project resource
3. Strategic Location: Queensland Copper-Gold Project spans 952 square kilometres of granted tenure including 21 square kilometres of Mining Leases
4. Technical Excellence: Integration of advanced EM targeting with systematic drilling approach
5. Financial Position: Well-funded exploration program with systematic campaign design

The combination of immediate drilling catalysts, substantial resource expansion potential, and proven management execution creates a compelling opportunity for investors seeking exposure to Australian copper-gold development.

Risk Mitigation Through Systematic Approach

However, the company has structured its exploration program to mitigate technical risks through systematic targeting and advanced geophysical techniques. This methodical approach increases the probability of successful resource expansion while maintaining cost-effective operations.

Why Investors Should Follow Breakthrough Minerals

The commencement of drilling at Barbara represents more than just another exploration program – it demonstrates Breakthrough Minerals' commitment to rapid execution and systematic value creation. With the broader Queensland Copper-Gold Project hosting 200,000 tonnes of contained copper equivalent across multiple deposits, the company has established a substantial platform for growth.

Compelling Tracking Reasons:

• Immediate News Flow: Regular drilling results expected throughout the program
• Resource Growth Potential: Multiple expansion targets across the broader project portfolio
• Strategic Asset Base: Granted Mining Leases provide development pathway
• Experienced Management: Proven track record of rapid project advancement
• Technical Innovation: Advanced targeting techniques maximising discovery potential

Key Investment Takeaway

Breakthrough Minerals has positioned itself as a dynamic force in Australian copper-gold development, with immediate drilling catalysts backed by substantial resource expansion potential. The company's rapid transition from acquisition to active exploration, combined with systematic targeting of high-grade extensions, makes it a compelling opportunity for investors seeking exposure to near-term resource growth in the proven Mount Isa region.

The drilling program at Breakthrough Minerals marks the beginning of what promises to be a highly active exploration period, with results expected to provide regular catalysts for share price appreciation. Consequently, as the company systematically unlocks the value within its substantial Queensland asset base, investors can expect continued operational momentum throughout the campaign.

Could Breakthrough Minerals Be Your Next Copper-Gold Investment Opportunity?

With drilling operations now underway at the Barbara Copper-Gold Project and multiple high-grade targets being systematically tested, Breakthrough Minerals presents a compelling opportunity for investors seeking exposure to near-term resource growth catalysts. The company's rapid execution capabilities, substantial expansion potential within its 63,000-tonne copper equivalent resource base, and strategic position across granted Mining Leases in Queensland's proven Mount Isa region make it a standout prospect in the Australian copper-gold sector. To explore the full investment potential and discover how Breakthrough Minerals' systematic exploration approach could unlock significant value across its 200,000-tonne global resource portfolio, visit breakthroughminerals.com.au for comprehensive company information and project details.