Geophysics and Drilling Discovers New Mineralised Structure West of Horden Lake, further Potential along Strike.

Pivotal Metals Limited (ASX: PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide results from two further drill holes and a new airborne magnetic survey that highlights the regional scale growth potential of its 100% owned Horden Lake Project in Quebec, Canada.

Newly discovered mineralised zone adjacent to Horden Lake

• Airborne survey delineates 1.8km parallel magnetic anomaly, “Horden West”, 400m west of the main Horden Lake trend.
• First ever drill hole into Horden West provides strong encouragement for this new zone, highlights of HN-24-113:
  • 2.2m @ 0.77% CuEq from 10.6m
  • 1.1m @ 0.4% CuEq from 45m
  • 1.5m @ 0.84% CuEq from 241m
• Geophysical surveys and follow up drilling are planned to fully investigate the potential of this new discovery.

Additional 600m strike extension potential south of Horden Lake main zone

• 2024 drilling, DHEM and drone magnetics defines up to 600m of potential strike extension to the southwest of Horden Lake.
  • 3.2m @ 1.06% CuEq from 180.7m drilled in HN-24-108, in a low mag anomaly.
  • Off-hole DHEM conductor coincides with strengthening magnetics to the SW.
• Shallow historical drilling results, which lie outside the Horden Lake 2022 resource boundary, highlight the potential of this extension
  • 23.7m @ 1.24% CuEq from 33.4m, incl 7.9m @ 2.16% CuEq in HOR-13-02
  • 54m @ 0.56% CuEq from 59.9m in H26820

Pivotal work program delivering

• Significant growth potential shown through drilling and geophysics completed by Pivotal on the Horden Lake property.
• Assay results from 16 holes from the 2024 drilling results are still pending.
• Metallurgical testwork in progress, with resource update expected in Q4 2024.
• Follow up geophysics to refine regional targets planned for Q4 2024.
• Follow up drilling planned for Jan 2025.

Managing Director, Mr Fairhall said:

“The best place to look for a deposit, is next to a deposit. This parallel corridor is a major development in expanding the potential of the project. Previously undrilled, so hitting mineralisation in the first hole is a great first step in developing this into a potentially significant target source of feed to complement the main Horden Lake deposit.

Elsewhere, along strike from Horden Lake, we have further defined a prospective 600m potential strike extension. The new data, combined with exciting intersections in historical drilling, provide clear targets to prioritise as the Company builds its open-pit resources.

Like our successful down-plunge step-out drilling, these are important evidence of the significant potential to enlarge the resource base and bulk-up what is already a sizeable and compelling copper development opportunity.

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 3,333m / 16 holes have been reported prior to this announcement.

The main 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 targets.

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