Pivotal Metals (ASX:PVT) has announced a 42% increase in its Horden Lake copper resource to 549,000 tonnes copper equivalent (CuEq).
The updated mineral resource estimate (MRE) totals 52.4 million tonnes (Mt) @ 1.05% CuEq for 549,000 tonnes of contained CuEq metal at the Quebec project.
The pit-constrained resource grew 46% to 45.5Mt @ 1.07% CuEq, containing 485,000 tonnes CuEq.
“When we drill Horden Lake, it gets bigger. With over 500,000 tonnes CuEq at >1% CuEq, this update increases our deposit by over 40% and underwrites a project of scale, grade, location and upside that is of significant strategic value in a world forecast to be structurally short of copper,” Managing Director Ivan Fairhall says.
The resource contains 292,000 tonnes of copper metal, representing a 30% increase in pit-constrained copper to 257,000 tonnes. Some 87% of the MRE tonnage sits within the pit shell, supporting potential for open pit mining.
The deposit extends 2,800m along strike and remains open in all directions. Resource growth came from drilling electromagnetic conductors identified in 2025 surveys, with large-scale conductive horizons remaining undrilled.
“This update demonstrates the power of geophysics to target deposit extensions, and underscores the scale of the exploration upside at Horden Lake that remains undrilled,” VP Exploration Paul Nagerl says.
The resource includes by-product credits of 549,000 ounces of 3E metals (gold, palladium, and platinum) and 17 million ounces of silver. Recent metallurgical test work confirmed conventional flotation can achieve 90% copper recovery and 55% nickel recovery into clean concentrates.
Pivotal acquired the project in 2022 and has nearly doubled the MRE tonnage while maintaining consistent CuEq grades. The company plans to complete a scoping study in the third quarter of 2026.
The deposit comprises copper-dominant polymetallic sulphide mineralisation along a contact zone between gabbroic intrusive and metasedimentary rocks. The project is located 131km north-northwest of Matagami in Québec, Canada, and has highway access and nearby hydroelectric power infrastructure.
The MRE was prepared by independent consultants Caracle Creek International Consulting and Atticus Geoscience Consulting in accordance with JORC Code (2012) guidelines. The estimate includes measured and indicated resources of 24.3Mt @ 1.17% CuEq and inferred resources of 28.1Mt @ 0.95% CuEq.
Write to France Pinzon at Mining.com.au
Images: Unsplash
