Breakthrough Minerals Advances Queensland Copper-Gold Ambitions with Major Acquisition and Drilling Launch

Strategic Acquisition Secures District-Scale Copper-Gold Landholding

Breakthrough Minerals Limited (ASX:BTM) has transformed its portfolio with the completion of a 100% acquisition of the North Queensland Copper-Gold (NQCG) Project, a sprawling ~952km² tenure in the Mt Isa region. This acquisition not only adds a substantial resource base but also includes granted Mining Leases covering ~21.5km² and existing infrastructure such as a 70-person mining camp and mining equipment. The project sits strategically close to major processing facilities operated by Glencore and Harmony Gold, positioning Breakthrough well within a prolific copper-gold corridor.

The NQCG Project boasts a Global Mineral Resource Estimate (MRE) of 18.8 million tonnes at 1.07% copper equivalent (CuEq), equating to roughly 200,000 tonnes of contained CuEq metal. The resource is predominantly inferred (66%) but includes measured (3%) and indicated (31%) categories, providing a solid foundation for expansion through systematic exploration. Historical drilling highlights significant high-grade intercepts, such as 30m at 1.5% Cu and 15m at 9.1g/t Au & 1.5% Cu, underscoring the potential for further discoveries across multiple advanced prospects.

Drilling Campaigns Kick Off at Barbara and Hazel Creek

Following the acquisition, Breakthrough swiftly initiated drilling at the Barbara Copper-Gold Project, located on granted Mining Lease ML90241. The initial diamond drilling program targets down-plunge extensions of known mineralisation and coincident electromagnetic conductors identified southeast of the current resource envelope. This campaign marks a significant milestone for Breakthrough, heralding a new phase of resource growth and discovery across the portfolio. The Barbara Project alone hosts an MRE of 6.5 million tonnes at 0.97% CuEq, with the resource remaining open down plunge and at depth.

Meanwhile, at the Hazel Creek Project, home to over half of the NQCG’s global resources, a 3,000-metre diamond drilling program is planned to test extensions at the Turpentine Deposit, which contains 8.7 million tonnes at 1.16% CuEq. The mineralisation remains open to the north, supported by gravity inversion modelling. Additional reverse circulation drilling is slated to expand resources at Turpentine South and Eight Mile Creek North and to convert advanced exploration targets into resource estimates, focusing on untested electromagnetic anomalies and geochemical signatures.

Exploration Targets Spread Across Multiple Project Areas

Beyond Barbara and Hazel Creek, Breakthrough’s NQCG Project includes the Mt Colin Mine Project and the Soldiers Cap / Cloncurry Exploration Project. The latter hosts a mix of copper-gold and Cannington-style zinc-lead-silver targets, with prospects such as Canteen, Victory, and Strathfield showing promising drill results. Notably, Victory returned 15m at 9.1 g/t Au and 1.3% Cu from 6m, indicating potential for high-grade mineralisation that warrants further follow-up.

The company is also advancing exploration at the Lillymay Prospect near Barbara, where historic drilling intersected 3m at 7.41% Cu, alongside several untested electromagnetic plates. These targets are poised for follow-up drilling as part of a broader 4,500-metre program planned for 2026. The Errolls Gold Project in Western Australia remains in the heritage approval phase, awaiting further progress.

Capital Raising and Leadership to Drive Growth

To fund the acquisition and aggressive exploration agenda, Breakthrough completed a placement raising A$8.15 million at A$0.15 per share during the quarter. At quarter end, the company held approximately A$2.39 million in cash, following significant expenditure on the acquisition (~A$5.5 million) and exploration activities (~A$113,000). Operating and corporate costs, including director fees and consulting, were consistent with prior periods.

Leadership has been bolstered by the appointment of Nigel Broomham as Managing Director, effective March 2026. Broomham brings over 15 years of mining and corporate experience, having led Battery Age Minerals through exploration growth and acquisitions. His arrival signals a strategic push to translate Breakthrough’s substantial land and resource position into tangible growth outcomes.

Breakthrough’s approach is deliberate: prioritising resource expansion at key deposits like Turpentine and Barbara before systematically testing advanced exploration targets across the tenure. This staged strategy aims to unlock the full potential of the NQCG Project, with a steady flow of drilling results expected through 2026.

These developments build on the company’s recent 100% acquisition completion and follow the commencement of the maiden drilling campaign at Barbara, which was detailed in a prior update maiden drilling at Barbara. Meanwhile, the planned resource growth push at Hazel Creek remains a focal point for the coming months Hazel Creek drilling push.