Pivotal Metals

Deeper Drilling Discovers Substantially Thicker Mineralisation at Horden Lake; Corresponding DHEM Results Indicate Exciting Depth Continuity

Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide the assay results of three further drill holes and, for the first time, the associated downhole electromagnetic survey (DHEM) results, from its 2024 diamond drill program completed at its 100% owned Horden Lake Project in Quebec, Canada.


Highlights

  • Step-out drilling and DHEM results discover material resource growth potential at the Horden Lake deposit
  • Step-out drilling delivers 32.1m @ 1.2% CuEq1, representing a substantially wider copper zone down plunge in HN-24-98
    • 32.1m @ 1.2% CuEq (0.57% Cu, 0.19% Ni, 0.08g/t Au, 0.13g/t Pd) plus additional 0.04g/t Pt, 192ppm Co, 8.2g/t Ag from 264.3m. Includes 14.2m @ 1.79% CuEq from 275.9m.
    • Deepest hole in this zone, 70-90m diagonally down-plunge from the two nearest historic holes.
  • Strong down-hole electromagnetic (DHEM) plates project extensions of mineralisation at depth
    • HN-24-98 plate indicates the highly conductive mineralised zone extends equally each way along strike, up-dip 170m, and is more responsive below the hole, extending 225m down-plunge.
    • HN-24-96 stacked plates indicate the hole hit the edge of a strongly mineralised zone which sits deeper and to the north of the previously reported 17.1m @ 0.58% CuEq and 11.9m @ 1.39% CuEq.
    • These first two plates link over 300m of strike extent which remains open down-plunge. Additional DHEM survey results pending.
  • Shallow infill drilling delivers 33.8m @ 0.81% CuEq from 38m in HN-24-100
    • Results again highlight the significant Au, Ag, PGM and Co by-products never previously assayed.
    • Demonstrates continuity of the wide zone of shallow open-pittable copper mineralisation.
  • Significant depth extension via drilling and DHEM in the southern zone
    • The lesser-drilled southern zone now demonstrates potential to match or possibly exceed the central zone where economic resources extend to 550m (still open), 50-60% deeper than currently defined in the south.
    • Only ~30% of the strike length has been drilled below 220m, yet this deeper area already hosts ~30% of the current JORC resource.
  • Assays from 25 holes remain pending, including multiple step-out and DHEM results across zones of open mineralisation.
Managing Director, Mr Fairhall said:

“These results show clearly the tremendous potential for Horden Lake to deliver substantial exploration upside, with hole 98 showing the copper zone expanding at depth with one of the best intersections on the project.

Most excitingly, we couple this with very strong DHEM conductors indicating this mineralisation has continuity along strike and clearly extends at depth.

It is important to highlight that drilling has defined high grade mineralisation to over 550m in the central zone (and still open), and we now see no reason why the southern zone cannot achieve a similar, or possibly better, result. We have a significant amount of news-flow in the pipeline and we shall release further assays as they become available, along with downhole EM results where surveyed.”

Overview

Horden Lake is a copper dominant Cu-Ni-Au-PGM-Co Project located 131km north-northwest of Matagami, in Quebec Canada. The Project hosts an indicated and inferred mineral resource estimate of 28mt at 1.5% CuEq, as a result of over 52,464m of drilling already completed on the property. Pivotal has recently completed a 7,097m / 34 hole diamond drilling campaign. 1,317m / 6 holes have been reported prior to this announcement.

The objectives of the drilling program were to infill missing by-product multi-element assay information, target resource expansion potential (which remains open at depth across its full extent) and collect a distribution of metallurgical sample for a complete test work program. Downhole EM surveys have also been completed to dimension future exploration potential and targeting.

The results of drilling in HN-24-98 together with HN-24-93 and HN-24-94, and DHEM across HN24-98 and HN-24- 96 provide strong evidence of substantial resource growth potential at depth. This southern portion of the deposit has only a couple of holes below ~200m vertical depth. In the central portion, drilling has defined continuous zone of resources to approximately 550m.

Figure 1: Drill plan map with significant 2024 results, Horden Lake Cu-Ni-Au-PGM Project

Drill Hole and DHEM Discussion

Reported results are focused in the southern portion of the Horden Lake deposit. Hole HN-24-98 was designed to test step out potential, whilst holes HN-24-99 and HN-24-100 were shallower holes designed to infill continuity and collect by-product assay information not taken previously. DHEM survey results for HN-24-98 are also reported here, along with the survey results of HN-24-96 (assays reported on 10 June 2024).


Click here for the full ASX Release

This article includes content from Pivotal Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

PVT:AU
The Conversation (0)
Glowing periodic table detail highlighting nickel.

Nickel Price Update: Q1 2025 in Review

Nickel prices have largely trended down since breaking US$20,000 per metric ton in May 2024.

The decline has been attributed to refined nickel oversupply, driven by high output from Indonesia, which mined an estimated 2.2 million metric tons of nickel in 2024 and accounted for more than 50 percent of global output.

The threat of US tariffs has also weighed heavily on markets that are reliant on nickel and its downstream products, such as the stainless steel and electric vehicle battery industries.

These factors pushed nickel to five year lows in the US$15,000 range in Q1.

Keep reading...Show less
FPX Nickel (TSXV:FPX)

FPX Nickel


Keep reading...Show less
Diagonal rows of nickel rolls.

Top 3 ASX Nickel Stocks of 2025

With its diverse applications in both technology and industry, nickel is a metal that will never go out of style.

Nickel is commonly used in alloys to create stainless steel, but more recently has found a modern use: batteries. As the electric vehicle trend gains steam, the base metal is in high demand for its role in lithium-ion batteries.

Nickel has encountered much volatility in the past few years. After spiking to record highs in 2022, the nickel price has been on a downward trend on oversupply from top-producing country Indonesia and economic uncertainty dampening demand.

Tariffs could further disrupt the nickel market going forward, but whether that's to the upside or the downside remains to be seen.

Against that backdrop, some Australian nickel companies are still making moves. Here the Investing News Network has listed the top nickel stocks on the ASX by year-to-date gains. Data was gathered using TradingView's stock screener on April 9, 2025, and all companies had market caps above AU$5 million at that time. Read on to learn more about them.

Keep reading...Show less

Latest Press Releases

Related News

×