Pivotal Metals (ASX:PVT) has discovered a new mineralised structure 400m west of its Horden Lake Project Quèbec, Canada.
The new discovery was made via an airborne survey which revealed a 1.8km parallel magnetic anomaly, now known as Horden West.
This was followed by the first ever hole drilled into the new trend, which intersected four mineralised zones and returned intercepts of 2.2m @ 0.77% copper equivalent from 10.6m, 1.1m @ 0.4% from 45m and 1.5m @ 0.84% from 241m.
Pivotal is planning to undertake geophysical surveys and follow-up drilling to fully investigate the potential of this new discovery.
Managing Director Ivan Fairhall says 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,” he says.
“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.”
Meanwhile, a combination of drilling, downhole electromagnetics (DHEM) and drone magnetics points to up to 600m of potential strike extension to the southwest of Horden Lake.
Drilling into a low-mag anomaly returned an intercept of 3.2m @ 1.06% copper equivalent from 180.7m, while a new off-hole DHEM conductor coincides with strengthening magnetics to the southwest.
Shallow historical drilling undertaken to the west of the anomaly returned intercepts of 23.7m @ 1.24% copper equivalent from 33.4m, including 7.9m @ 2.16%; and 54m @ 0.56% from 59.9m that sit outside of the resource boundary and highlight the potential of this extension, Pivotal says.
“The new data, combined with exciting intercepts in historical drilling, provide clear targets to prioritise as the company builds its open-pit resources,” Fairhall says.
“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.”
Horden Lake currently hosts an indicated and inferred resource of 28 million tonnes @ 1.5% copper equivalent.
Metallurgical testwork is underway, with a resource update slated for release in the final quarter of 2024.
Follow up geophysics to refine regional targets is also planned for the fourth quarter, with follow-up drilling scheduled for January 2025.
Write to Angela East at Mining.com.au
Images: Pivotal Metals
