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Highlights

  • Strategic Acquisition: Breakthrough Minerals secures a 100% interest in Errolls Gold Project in WA’s Murchison region.

  • High-Grade Gold Potential: Historical intercepts include 22m @ 7.46g/t Au from the surface, with peak grades over 50g/t.

  • Strong Market Response: BTM shares surged 25.3% to 9.4 cents following the announcement.

Breakthrough Minerals Limited (ASX:BTM) has entered into a binding agreement to acquire the Errolls Gold Project, a high-grade gold asset located in Western Australia’s Murchison region, known for its rich mineral potential.

The acquisition, which includes exploration license E57/996 and a mining lease application (M57/653), covers a high-grade gold zone hosted along a sheared granite-greenstone contact. Historical mining and shallow drilling have confirmed significant mineralisation, but exploration has so far been limited to depths of just 40 metres, leaving substantial untapped potential.

Exploration and Drill Targets

The Errolls Gold Project boasts multiple walk-up drill targets near previous high-grade gold intercepts. Historical results include:

  • 22m @ 7.46g/t Au from surface, including 5m @ 31.76g/t Au and 3m @ 51.85g/t Au

  • 20m @ 2.74g/t Au from 14m, including 6m @ 7.24g/t Au

  • 11m @ 6.88g/t Au from 14m, including 6m @ 12.3g/t Au

With an average drill hole depth of just 34 meters, the company sees immediate potential for deeper extensions both down-plunge and along strike.

Funding and Market Response

Breakthrough Minerals has also secured AU$1.2 million via a placement of 16.55 million shares at $0.074 per share to support the project's exploration. The placement is subject to shareholder approval at an Extraordinary General Meeting (EGM) in May 2025, with the acquisition expected to be finalised in June 2025.

Executive Director Peretz Schapiro emphasied the significance of the deal, calling it a “company-making acquisition” that offers shallow, high-grade gold in a world-class mining jurisdiction.

Breakthrough Minerals has already submitted a program of work and plans to commence drilling immediately upon transaction completion.

Following the announcement, BTM shares jumped 25.3% to 9.4 cents, reflecting strong investor enthusiasm for the company's latest move.