Horden Lake Drilling Completed

Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide an update on its exploration program at its 100% owned Horden Lake project in Quebec, Canada.

Highlights

• 33 holes for 7,014 metres of diamond drilling completed at Horden Lake.
  • Program targeted grade and tonnage opportunities within the 412 kt CuEq (27.8mt at 1.5% CuEq) Indicated and Inferred Resource¹.
• Logging and assay in progress. First assay results are expected shortly, and will be released progressively during Q2 2024.
• Extensive 21 hole downhole EM geophysical survey in final stages of completion.
  • Objective to show resource growth potential around the defined Resource, which was open along NE-SW strike and down-plunge directions.

“We are proud to be wrapping up our successful drilling and downhole geophysics program on schedule at Horden Lake – the first since Pivotal’s acquisition of the property. Our strategy to target grade and tonnage increases on the project is firmly intact, and we look forward to sharing the results shortly.

This work program sets us up for a busy 2024 as we work towards a resource update, metallurgical testwork, and follow up drilling to continue to grow the already significant mineral endowment. I would like to thank our in-country team and contracting partners for a safe and well executed program”

Horden Lake Drill Program

The Company has completed 33 diamond drill holes at Horden Lake, for a combined program of 7,014 metres (Figure 1).

Figure 1: Horden Lake drilling and geophysics collar plan

The program was designed to target improvements to both the quality and scale of the Horden Lake project and provide the foundation for advancing the asset from both a geological, and an engineering, perspective.

• Exploit the potential for increase in grade by collecting Au, Ag, Pt and Co by-product assay data for parts of the deposit that were not assayed for these metals in the past.
• Exploit the potential for increase in tonnage by drilling areas of limited density in or around the 27.8 mt Resource envelope. Downhole geophysics has been used to refine targets for further step-out drilling (see below).
• Collect significant sample for metallurgical testwork for flowsheet optimisation to support more detailed engineering studies.

Drill core is being progressively logged by the geological team in Val d’Or and sent for multielement assay with ALS Global. The first assays were sent on 19 February, and results are expected shortly.

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