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Deeper Drilling Discovers Substantially Thicker Mineralisation at Horden Lake; Corresponding DHEM Results Indicate Exciting Depth Continuity
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.
First Two Step-out Holes Extend High Grades at Horden Lake
Highlights
- High grade copper mineralisation extended down-plunge in hole HN-24-97, the first step-out hole reported from the 2024 drill program.
- 21.5m @ 0.98% CuEq1 (0.56% Cu, 0.12% Ni, 0.07g/t Au, 0.09g/t Pd) plus additional 0.03g/t Pt, 119ppm Co, 8.3g/t Ag from 266.1m
Including 7.2m @ 1.56% CuEq from 280.4m - Deepest hole in this zone, 80-110m diagonally down-plunge from the two nearest historic holes
- 21.5m @ 0.98% CuEq1 (0.56% Cu, 0.12% Ni, 0.07g/t Au, 0.09g/t Pd) plus additional 0.03g/t Pt, 119ppm Co, 8.3g/t Ag from 266.1m
- HN-24-96 extends downwards and infills high grade mineralisation in 130m gap between previously drilled holes.
- 17.1m @ 0.58% CuEq (0.25% Cu, 0.1% Ni, 0.03g/t Au, 0.06g/t Pd) plus additional 0.03g/t Pt, 95ppm Co, 3.9g/t Ag from 203m
Including 5.1m @ 0.95% CuEq from 206.6m - 11.9m @ 1.39% CuEq (0.42% Cu, 0.33% Ni, 0.03g/t Au, 0.13g/t Pd) plus additional 0.04g/t Pt, 230ppm Co, 4.8g/t Ag from 229.7m.
Including 7.8m @ 2.1% CuEq from 229.7m
- 17.1m @ 0.58% CuEq (0.25% Cu, 0.1% Ni, 0.03g/t Au, 0.06g/t Pd) plus additional 0.03g/t Pt, 95ppm Co, 3.9g/t Ag from 203m
- Mineralisation now defined to 200-230m vertical depth in the vicinity of these holes. This is less than half the ~550m depth that mineralisation has been defined to in the central part of Horden Lake.
- Significant gold, silver, palladium, platinum and cobalt metals delineated once again, which were not assayed in this part of the deposit during previous drill campaigns.
- Consistent news-flow ahead, including results from the remaining 5,780m / 28 diamond drill holes and downhole EM surveys to be released, followed by a mineral resource update and metallurgical test-work in H2.
Managing Director, Mr Fairhall said:
“Down plunge extensions are a key pillar of the significant upside story at Horden Lake. The southern flank of the deposit has only been drilled to around 200m, whereas mineralisation is defined to ~550m in the central portion. These high grade results in the south demonstrate the strong potential for resource growth at depth, with the deposit remaining completely open across its full strike extent. In addition, we anticipate increasing the metal content of the resource through inclusion of the significant palladium, gold, cobalt, platinum and silver assays we are seeing which were never before assayed for in this portion of the deposit.
We have a significant amount of news-flow in the pipeline as we release further assays and the results of downhole surveys as they become available.”
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. 705m / 4 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 of the Horden Lake Cu-Ni-Au-PGM Project
Drill Hole Discussion
Holes HN-24-96 and HN-24-97 were designed to test step out and infill the deeper extensions in the southern portion of the Horden Lake deposit. Table 1 contains the significant intersections, and Figure 2 is a longitudinal section showing the spatial distribution of historical and new drill hole pierce points.
Table 1: Significant intersections. Lower cut 0.3% CuEq over 1.5m (max dilution 5m). Higher cut 1.1% CuEq over 1.5m (5m max dilution).
Figure 2: Longitudinal section looking southeast through the Horden Lake deposit
Hole HN-24-97 is located 140m down-plunge from the 2024 hole HN-24-95 (refer ASX announcement 16 May 2024), and 80m and 110m respectively diagonally down-plunge from holes previously drilled holes H25315 and H26812. Mineralisation falls within one wide intersection of 21.45m grading 0.98% CuEq (0.56% Cu, 0.12% Ni) from 266.1m (Figure 3). Higher grade intersections include 7.17m grading 1.56% CuEq (1.10% Cu, 0.13% Ni) from 280.38m, which includes 4.53m grading 2.05% CuEq (1.48% Cu, 0.18% Ni) from 282.15m. Mineralisation between 266.1 to 282.85 occurs within meta-pyroxenites, meta-gabbros, and mafic dykes and one semi massive sulphide zone. The highest grade zone, 282.85 to 287.55 m occurs within the metasediments with one massive sulphide mineralisation and included a single assay of 4.08% copper over 0.66m at 282.85m. Whilst an inferred zone of mineralisation above 0.3% CuEq was interpreted in this zone, no higher grade zone extended to this area and this intersection shows very encouraging extensions of high grade mineralisation at depth.
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.
