Drilling Delivers 10.2m @ 2.3% CuEq, and DHEM Expands Further Potential in all Three Directions at Horden Lake

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

Highlights

• Shallow drilling delivers 10.2m @ 2.3% CuEq¹ in HN-24-103
  • Sits within wider 28.6m @ 1.05% CuEq from 74m.
  • Expands the width of expected mineralisation in the open pit zone of the deposit.
• Assays confirm 270m down-plunge continuity from surface, linking with previously reported HN-24-100
  • 14.6m @ 0.84% CuEq from 272m, incl 5.7m at 1.41% CuEq in HN-24-104.
  • 7.3m @ 0.78% CuEq from 165m, and 13.2m @ 0.77% CuEq from 180.1m in HN-24-102.
• Up to 600m SW extended zone now defined by both DHEM and drilling as having strong potential for down-plunge extensions
  • HN-24-104 off-hole conductor extends 170m down-dip, for a potential 400m total depth extent, which may remain open.
  • Plates continue to extend the mineralised zones and connect with previously reported drilling and plates in HN-24-96,-97 and -98, highlighting the potential for southern zone mineralisation continuity from the central zone.
• Infill delivers continuity of mineralisation within the 2022 resource open pit shell
  • 15.6m @ 0.88% CuEq from 121m, incl 5.7m @ 1.41% CuEq in HN-24-101.
• All intersections show mineralisation in Au, Ag, PGM and Co by-products never previously assayed in this area, and represent important upside to the metal endowment reported in the 2022 mineral resource estimate.
• Assays from 21 holes remain pending, including multiple step-out and DHEM results across zones of open mineralisation.

Managing Director, Mr Fairhall said:

“Horden Lake continues to deliver - from both step-out, and infill from historical drilling. In the shallow areas, results indicate excellent continuity, in places widening, of expected mineralisation, along with a suite of valuable by-products which were overlooked in previous drilling.

Excitingly, deeper drilling and DHEM again combine to show excellent down plunge continuity of the deposit, and the huge potential for it to continue at depth. We now have a zone over 600m extending the mineralisation strike length that exhibits strong potential for expansive down-plunge extension with further drilling, potentially similar to that observed in the central zone which extends to over 490m vertical (and remains open).

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 previously completed on the property. Pivotal has recently completed a 7,097m / 34 hole diamond drilling campaign of which 1,800m / 9 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.

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

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