In many companies the term BHAG – pronounced “bee hag” gets thrown around quite a lot. The acronym stands for ‘Big Hairy Audacious Goal’.
BHAG is a clear, compelling, and ambitious target that an organisation sets for itself and its employees. It was coined in the 1994 book Built to Last: Successful Habits of Visionary Companies by Jim Collins and Jerry Porras.
At Pivotal Metals (ASX:PVT), BAGB is the abbreviation on everyone’s lips. It refers to the company’s Belleterre-Angliers Greenstone Belt projects in Canada where nickel and copper discoveries have already been made.
Speaking to Mining.com.au, Managing Director Ivan Fairhall is confident in the year ahead that the company could make a new discovery at the BAGB projects, as it continues building the deposits out with additional exploration drilling.
“The plan is around making whatever we’ve found larger, looking towards defining resources and showing that there’s a pathway to extract those resources because the infrastructure in that area is very, very good,” Fairhall tells this news service.
“There’s a lot of mills around, power, and roads. It’s like the Kalgoorlie of Québec. So I think the new discovery down there is going to really excite people and if we’re successful there’s going to be a lot of emphasis to build on that.
“There’s a lot of mills around, power, and roads. It’s like the Kalgoorlie of Québec”
“And with Horden Lake we’re continuing to grow that project so we’ll have increased the resources by then. We’ve had some drilling and we plan to grow the resources and are also looking at the extraction of that resource and how to monetise that project.”
Pivotal focus
Fairhall says in the year ahead Pivotal will focus on work around ensuring BAGB is profitable, and potentially undertake economic studies down the line.
As a “very large project that sticks out of the ground in a great location”, Fairhall notes geological mapping, geophysical modelling, ground EM surveys, and drill testing will give the company further insights to BAGB’s potential.
With multiple historical intercepts and a proven regional scale mineralising system, the BAGB projects are more than a brownfields extension play, he adds.
“We’ve made an advanced discovery. We have a large project that is some of the cheapest copper you can find on the ASX, but it’s certainly on the open pittable side, it’s one of the better open pit copper projects on the ASX. So it’s got high quality, they’re high quality tonnes,” Fairhall tells Mining.com.au.
“That’s an advanced project. Now you get all of that for free when you consider what the exploration upside we have on our projects.
“So we’re trading like a little exploration company that’s hoping to make a discovery like Horden Lake. And we have properties that are very, very interesting and everyone’s got a good story as do we, but you get Horden Lake for free.”
As such, Pivotal believes it can grow the BAGB projects, which means investors receive “free exposure” to the other work it is undertaking, particularly at Horden Lake.
The company has initiated fieldwork and an AI program targeting new copper-nickel-platinum group metals deposits. At Midrim, within the BAGB projects, fieldwork has begun with the first results expected during Q3 2025.
Using deep penetrating electromagnetic methods to refine drill targets, discoveries of new high-grade semi-massive to massive sulphide accumulations similar to the known occurrences are being targeted.
In late June, Pivotal completed a high-resolution magnetic survey at the Lorraine Project, as part of the company’s strategy to pursue new discoveries. Lorraine is also part of the Belleterre-Angliers Greenstone Belt (BAGB) projects, which forms part of the Archean Superior Province of the Canadian Shield, as reported by this news service.
Also in June, the company received step-out drill results which confirm the resource growth potential of the Horden Lake deposit in Québec, as reported.
Write to Adam Orlando at Mining.com.au
Images: Pivotal
