Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide the first assay results from the first 2 of 34 diamond drill holes completed at its 100% owned Horden Lake Project in Quebec, Canada.
Highlights
Drilling confirms broad zones of copper rich Cu-Ni-Au-PGM-Co mineralisation at Horden Lake, including 37.5m at 1.31% CuEq.Significant gold, silver, palladium, platinum and cobalt metals delineated, which were not assayed for in this part of the deposit during historical drill campaigns.Consistent news-flow ahead, including results from the remaining 6,833 m / 32 diamond drill holes and downhole EM surveys to be released progressively through the quarter, followed by mineral resource update and metallurgical testwork in H2.
Assay Highlights
HN-24-93
1.2m @ 4.44% CuEq (2.73% Cu, 0.35% Ni, 0.81g/t Au, 0.39g/t Pd) plus additional 0.11g/t Pt, 324ppm Co, 33.1g/t Ag from 87.45m
HN-24-92
4.8m @ 0.67% CuEq (0.2% Cu, 0.12% Ni, 0.05g/t Au, 0.18g/t Pd) plus additional 0.07g/t Pt, 96ppm Co, 2g/t Ag from 82m6.75m @ 1.54% CuEq (0.63% Cu, 0.28% Ni, 0.07g/t Au, 0.20g/t Pd) plus additional 0.10g/t Pt, 179ppm Co, 7.2g/t Ag from 99m
Including 3.85m @ 2.14% CuEq (0.85% Cu, 0.40% Ni, 0.09g/t Au, 0.26g/t Pd) plus additional 0.12g/t Pt, 234ppm Co, 9.5g/t Ag from 101.2m
Managing Director, Mr Fairhall said:
“I am very pleased to be sharing the first of many assays from Pivotal’s maiden drilling campaign at Horden Lake. These results showcase the shallow wide zones of copper rich mineralisation that characterises Horden Lake. Importantly they validate the existence of significant gold, palladium, platinum, cobalt and silver which were never previously assayed in this part of the deposit, and will serve as potential upside to our mineral resource update later this year.
We look forward to sharing consistent news-flow in the coming months as we receive more assays and downhole geophysics interpretations, to complement our strategy to grow Horden Lake and demonstrate its high-quality development credentials.”
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 a 28mt at 1.5% CuEq indicated and inferred mineral resource estimate, 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. The objectives of the drilling program were to infill missing by-product multi-element assay information, potentially expand the resource (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 targetting.
Drill Hole Discussion
Holes HN-24-92 and HN-24-93 were designed to target gaps in the resource blocks, infill and add additional missing metals assay information. Table 1 contains significant intercepts, and Figure 2 is a longitudinal section showing the spatial distribution of historical and new drill holes.
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