Breakthrough Minerals Barbara Copper-Gold Project Commences Ambitious Drilling Programme

Breakthrough Minerals Limited (ASX:BTM) has unveiled an ambitious drilling program at its Breakthrough Minerals Barbara Copper-Gold Project, marking a significant step forward in the company's resource expansion strategy. The 1,500-metre diamond drilling campaign represents the first phase of a broader 4,500-metre drilling program across the Queensland Copper-Gold Project (QCGP), with drilling expected to commence following the Hazel Creek program in late March 2026.

The Barbara Copper-Gold Project sits on a granted Mining Lease and hosts 6.5Mt @ 0.97% CuEq within the broader 18.8Mt @ 1.07% CuEq Queensland Copper-Gold Project. This substantial resource base provides a strong foundation for expansion, with multiple high-grade intersections demonstrating the project's significant upside potential.

Management Commentary

"The Barbara Copper-Gold Project is a cornerstone asset within our North Queensland portfolio, hosting approximately one-third of the Queensland Copper-Gold Project's current Mineral Resource and located on a granted Mining Lease in the highly prospective Mt Isa region." – Nigel Broomham, Managing Director

The timing coincides with the appointment of Managing Director Nigel Broomham on 1 March 2026, accelerating execution of the company's 2026 drilling programs and bringing fresh leadership to drive resource growth initiatives.

High-Grade Targets Drive Drilling Strategy

The upcoming drilling program targets down-plunge extensions of known high-grade copper-gold mineralisation, building on some impressive historical intersections that demonstrate the project's exceptional grade potential. Furthermore, these copper and gold intersections provide compelling evidence of the deposit's expansion potential.

Priority Drilling Targets:

• 17m @ 2.5% Cu from 225m (BADD053)
• 5m @ 3.8% Cu from 286m (BADD013)
• 6m @ 2.1% Cu from 290.5m (BADD029)

A standout target is BARC071, located approximately 100 metres north of the Barbara North Pit, which intersected 2.0m @ 2.1% Cu from 148m on the same shear structure controlling mineralisation at both Barbara North and South pits. This intersection remains untested by follow-up drilling and represents a high-priority target for resource expansion.

The Barbara deposit extends over a 700-metre strike length with up to 400 metres vertical extent and remains open at depth below the current drilling footprint. Consequently, this provides substantial room for resource growth through systematic drilling campaign expansion.

Exploration Beyond Barbara: Lilly May Prospect

The drilling program extends beyond the main Barbara deposit to include the Lilly May Prospect, where hole LMRC001 returned an exceptional 3m @ 7.41% Cu from 106m. This high-grade intersection requires additional drilling both further east and at depth, with mineralisation remaining open along strike.

Additional targets include:

• Untested Fixed Loop Electromagnetic plates
• North Gossan Prospect requiring further investigation
• Fault offset interpretation potentially extending eastern mineralisation to the south

The broader exploration drilling program encompasses approximately 4,500 metres of diamond drilling across multiple prospects, demonstrating BTM's systematic approach to unlocking value across the entire Queensland Copper-Gold Project.

Understanding Iron-Sulphide Copper-Gold (ISCG) Deposits

The Barbara deposit represents an Iron-Sulphide Copper-Gold (ISCG) deposit, a specific type of mineralisation characterised by semi-massive to disseminated chalcopyrite-pyrrhotite-rich mineralisation. In addition, these iron sulphide deposits often display exceptional metal grades and continuity.

Key ISCG Characteristics

These deposits exhibit distinctive features that make them particularly attractive for exploration and development:

• Hosted within biotite-rich shear zones (the Barbara Shear Zone)
• Enriched in copper, gold, and silver
• Linear veins in ductile biotite schist
• Larger clumps of quartz-carbonate veins in brittle rhyodacite

This deposit style is particularly significant for investors because ISCG deposits often contain multiple valuable metals in economic concentrations. Furthermore, they can extend over substantial vertical and horizontal distances, providing excellent expansion potential.

The Barbara Shear Zone's 60-degree dip to the southwest creates ideal structural controls for continued mineralisation at depth. However, understanding these geological controls is crucial for successful exploration targeting.

Strategic Project Portfolio Strengthens

The Queensland Copper-Gold Project acquisition from Aeris Resources (ASX:AIS) subsidiaries is now unconditional, with completion expected in early March 2026. The project comprises 952km² of granted tenure including over 21km² of granted Mining Leases, providing substantial exploration upside across four key project areas.

The Global Mineral Resource Estimate across all projects totals 18.8Mt @ 1.07% CuEq for 200kt of contained CuEq metal. This resource is distributed across Measured (3%), Indicated (31%) and Inferred (66%) categories, with the Breakthrough Minerals Barbara Copper-Gold Project representing approximately one-third of this total resource base.

2026 Drilling Campaign Timeline

The comprehensive drilling strategy unfolds in two phases, allowing for optimised resource allocation and continuous exploration momentum. For instance, this phased approach enables better logistical planning and cost management.

Phase 1: Hazel Creek Project

The initial phase focuses on establishing drilling operations and testing high-priority targets:

• Approximately 3,000 metres diamond drilling
• Commencing late March 2026
• Focus on Turpentine and associated deposits

Phase 2: Barbara Project

Following successful completion of Phase 1, the program transitions to Barbara:

• Approximately 1,500 metres diamond drilling
• Following Hazel Creek completion
• Targeting resource extensions and new discoveries

This systematic approach allows BTM to optimise drilling logistics whilst maintaining continuous exploration momentum across the project portfolio. The sequencing also enables learnings from initial drilling to inform later programs.

Investment Thesis: Resource Growth in Proven Copper District

Breakthrough Minerals presents a compelling investment opportunity centred on resource expansion in one of Australia's premier copper districts. The Mt Isa region's established infrastructure and mining-friendly jurisdiction provide significant operational advantages for resource development.

Key Investment Drivers:

1. Substantial Resource Base: 18.8Mt @ 1.07% CuEq provides strong foundation for growth
2. High-Grade Extensions: Multiple targets with >2% copper grades remain untested
3. Granted Mining Leases: 21km² of mining tenure reduces permitting risk
4. Experienced Leadership: New Managing Director accelerates execution capability
5. Systematic Exploration: 4,500-metre program targets multiple value-creation opportunities

The Barbara project's location within the Kalkadoon-Leichhardt zone of the Mount Isa inlier places it in a highly prospective geological setting. This region has a 1,900-1,500 Ma history of mineralisation events, creating multiple opportunities for copper-gold concentration.

Financial Milestone: The company also announced the vesting of 1,250,000 Performance Rights following achievement of a 10-day VWAP exceeding $0.20. This milestone demonstrates positive market momentum and management alignment with shareholders through performance-based incentives.

Why Should Investors Follow Breakthrough Minerals?

BTM has positioned itself as an emerging force in the Australian copper sector through strategic acquisition of a substantial, drill-ready resource base in a tier-one mining jurisdiction. The combination of existing resources, high-grade extension targets, and systematic exploration approach creates multiple pathways for value creation.

The immediate drilling catalyst at the Breakthrough Minerals Barbara Copper-Gold Project, followed by broader QCGP exploration, provides regular newsflow opportunities. Consequently, this builds toward potential resource upgrades and development studies whilst maintaining investor engagement.

With experienced management now in place and drilling commencing within weeks, BTM offers investors exposure to near-term exploration upside in a proven copper district. Additionally, the copper market outlook remains strong, supporting potential value realisation.

The company's unconditional acquisition of the Queensland project, combined with granted mining tenure and established resource estimates, significantly de-risks the investment proposition. However, substantial upside potential remains through resource expansion and new discoveries.

Key Takeaway

Breakthrough Minerals has assembled a compelling copper-gold portfolio in the Mt Isa region, with immediate drilling catalysts targeting resource growth at the high-grade Barbara deposit. With 4,500 metres of drilling planned across proven prospects and experienced leadership driving execution, BTM represents an attractive opportunity for investors seeking exposure to Australian copper exploration with near-term value catalysts.

Ready to Explore BTM's Copper-Gold Opportunity?

Breakthrough Minerals Limited (ASX:BTM) is poised to begin its ambitious 4,500-metre drilling campaign across the Queensland Copper-Gold Project, starting with the high-grade Barbara deposit in late March 2026. With 18.8Mt @ 1.07% CuEq in resources, granted mining leases, and multiple untested targets showing exceptional copper grades above 2%, BTM presents a compelling investment opportunity in Australia's premier copper district. To discover more about Breakthrough Minerals' strategic drilling programs, resource expansion potential, and investment proposition, visit breakthroughminerals.com.au for comprehensive company information and the latest developments.