Catalina Resources (ASX:CTN) Advances Breakaway Dam with 12-Hole Copper Drill Campaign

Highlights

• Catalina is launching a 12-hole, ~3,160m RC program at Breakaway Dam.
• Newly processed geophysics and DHEM data sharpen focus on the interpreted core of the Breakaway Dam copper-rich VMS system.
• The planned BDCRC26016 drillhole will target multiple high-priority conductors to test central sulphide thickening.
• Drilling to systematically test a ~700m mineralised corridor within a ~16km conductive trend.
• Site works to begin on 21 February 2026, with drilling to follow immediately after preparation.

As drill planning shifts from interpretation to execution, Catalina Resources Limited (ASX:CTN) has outlined the next phase of work at the Breakaway Dam Copper Project. Newly processed geophysical data on the project have narrowed the focus to a set of high-priority targets within a volcanogenic massive sulphide system.

The company is preparing an initial reverse circulation campaign of 12 holes for about 3,160 metres, with flexibility to extend the program as geological insights emerge.

The planned drilling is structured as a systematic follow-up to earlier drilling and geophysical surveys that identified copper-rich VMS mineralisation, with the aim of testing the refined conductors and advancing understanding of the mineralised system’s scale and continuity.

Reflecting on the development, Executive Director, Ross Cotton, commented: “The upcoming program represents a disciplined step forward in Catalina’s evaluation of the Breakaway Dam Cu-VMS system. Our targeting strategy is grounded in the integration of geological observations and DHEM data, which increasingly indicate that previous drilling intersected the margins of the conductive system rather than its core. The design of planned BDCRC26016 drillhole as a multi-plate conductor test is particularly important, as it provides a direct assessment of zones where sulphide thickening and metal tenor may be enhanced. In parallel, the broader drill program is structured to improve confidence in system continuity and scale.”

Copper System Backed by Multiple Datasets

Breakaway Dam is interpreted to host copper-rich VMS mineralisation, supported by historical work, recent diamond drilling, and DHEM surveys that identified sulphide-bearing horizons and conductive responses. Integrated geological and geophysical analysis indicates earlier holes intersected the margins of modelled conductor plates, highlighting partly tested zones that may host thicker sulphide accumulations.

Strike Growth and Scale Potential

Drilling has outlined Cu-VMS-style mineralisation over about 700 metres of strike, with the conductive horizon interpreted to extend well beyond this area. Much of the trend remains lightly tested, and the favourable stratigraphy is considered to continue for at least 16 kilometres, providing the basis for follow-up drilling to assess grade distribution and overall system scale.

Twelve Holes Target Priority Corridor

The current program consists of twelve drillholes planned to systematically test the priority conductive corridor outlined by recent geological work and DHEM interpretation. One of the central holes has been designed to intersect three independently modelled conductor plates, providing a direct test of the interpreted core of the system where earlier drilling is considered to have only clipped the margins. This hole is expected to define conductor geometry, clarify sulphide distribution, and assess thickness variations within the central conductive zones.

DHEM to Map Continuity and Scale

Downhole electromagnetic surveys will be embedded throughout the campaign to refine conductor plate models, detect off-hole conductive responses, and guide follow-up targeting. The method is intended to improve resolution of the conductive framework and supply vectoring data in areas where sulphides are not directly intersected. Together, the drill pattern and DHEM integration shift the focus from isolated targets to a broader evaluation of continuity, spatial distribution, grade potential, and the overall architectural scale of the Breakaway Dam Cu-VMS system.

Looking forward, Catalina will commence site preparation at Breakaway Dam on 21 February 2026 through JB Contracting, marking the start of on-ground activities for the upcoming drill campaign. Mobilisation of Core Drilling Pty Ltd, along with the company’s geological team and supporting field assets, is scheduled for the week beginning 23 February 2026, positioning the project for the execution phase.

Shares of CTN traded at AUD 0.079 on 19 February 2026.