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Upcoming Exploration and Development Work Program Outlined for Quebec Battery Metals Project
Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to announce an extensive work program planned over the next 12 months on its 100% owned Horden Lake and BAGB battery metals projects in Quebec, Canada.Highlights:
- Up to 8,000 metre diamond drill campaign at Horden Lake commencing January 2024
- Targeting deposit grade increase by collecting Au, Ag, Pt and Co byproduct assay data not currently included in the 27.8mt at 1.49% CuEq JORC
- Targeting deposit tonnage increase by potentially extending mineralisation into open areas adjacent to, and below, the current resource envelope
- Resource update to following drilling and assay release through through Q2 2024.
- Downhole geophysical survey of the Horden Lake deposit, to be completed in January 2024.
- EM method to target massive sulphide bodies that sit outside the currently defined mineralised envelope, both at depth and along strike.
- Technique not used by prior operators, despite clear suitability.
- Results expected in time to support drill targeting.
- Deep geophysics at the BAGB Project during Q4 2023.
- Magnetotellurics (MT) selected as an ideal method to target deeper mineralised magmatic feeder systems below 300m overlooked by previous operators but considered highly prospective based on Pivotal’s geophysical reviews.
- Metallurgical testwork program for Horden Lake, commencing as early as Q4 2023
- Mineralogy, comminution and flotation testwork suite to optimise the flowsheet for recovery and payability and define parameters for use in future economic studies.
- Engineering and environmental studies to develop a robust and optimised long term execution plan for Horden Lake.
- The Company has $5.5m cash2, and consistent news-flow is expected as the Company executes its work programs across its properties.
Managing Director, Mr Fairhall said:
“We are poised to execute the largest and most comprehensive work program on our Canadian portfolio since acquisition. Shareholders can expect consistent news flow as we execute our strategy across our projects.
At Horden Lake we are looking to advance the project on all fronts. We already see clear potential for grade and tonnage improvements which drilling will target, and we are excited about potential for downhole geophysics to highlight further upside. In parallel we are ensuring we are well prepared with metallurgical, engineering, environmental data necessary to further advance the project.
At BAGB, we are making use of modern low-cost exploration techniques to target a discovery of scale. With exceptional grades of Ni-Cu-PGM already discovered in shallow gabbroic intrusions, your Company will target a broader intrusive magmatic complex believed to have acted as a feeder zone. The very high Ni-Cu-PGM grades seen in core provide encouraging potential for substantially more massive and semi-massive sulphide accumulations nearby which we will target with the planned MT survey."
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.
Countries across the globe are setting energy transition goals to meet emissions targets, leading to increasing global competition for critical minerals. Canada and the US have developed their own clean energy strategies, yet both countries are also heavily reliant on imports. A common denominator among the critical mineral strategies is the need to develop domestic supply chains. A domestic supply chain would create sustained growth for the energy transition, but getting there will require significant government investment. All of these factors add up to a steadily growing global demand for minerals and fierce competition to win the attention of mining companies necessary to build out the domestic supply chain.Pivotal Metals (ASX:PVT) is a global developer and explorer of world-class mineral deposits critical to an ever-increasing, technology-driven world economy. With copper and nickel assets in Canada, Pivotal Metals is committed to developing its projects in a manner that is environmentally and socially responsible.
Pivotal Metals’ exploration assets in Canada target the North American critical metals supply chain. The Horden Lake copper-nickel-PGM development project in Quebec, Canada, is the company’s most recent acquisition. With a JORC mineral resource estimate of 27.8 million tons (Mt) at 1.49 percent copper equivalent (CuEq) containing 414 kilotons (kt) of contained CuEq, Horden Lake is considered a “transformative acquisition” for Pivotal Metals. The project will be developed as a carbon-neutral operation connected to La Grange hydropower.
The company’s Quebec Belleterre-Anglier exploration project has known high-grade nickel-copper-PGE deposits at Midrim, Lorraine and Alotta. The project allows the company to build out a North American supply chain for the clean energy transition in a tier 1 mining jurisdiction that has committed $3.8 billion to advance its critical metals industry. PGMs in particular are gaining attention as a critical mineral required in the development of green hydrogen.
An experienced management team and board of directors lead the company. Steven Turner, managing director, brings 25 years of experience in the resource sector. Eddy Canova, executive operations, Canada, is a professional senior geologist with extensive experience of advancing exploration projects both in Quebec and internationally. The company’s board of directors also brings diverse experience to guide the company toward its ambitions.
- Pivotal Metals is an exploration and development mining company with assets in Canada, enabling it to become a significant contributor to domestic supply chains of critical minerals.
- The company’s Horden Lake copper-nickel-PGM project in Quebec has a JORC mineral resource estimate of 27.8 million tons (Mt) at 1.49 percent copper equivalent (CuEq) containing 414 kt of contained CuEq.
- The Belleterre-Anglier Project, also in Quebec, is an early-stage exploration asset with known high-grade nickel-copper-PGE deposits.
- Pivotal Metals is led by an experienced management team and board of directors that create confidence in its ability to reach its goals.
- Pivotal Metals recently raised AU$4 million through a flow-through share structure to advance its Quebec projects.
Horden Lake Copper-Nickel-PGM
Pivotal Metals acquired the Horden Lake polymetallic deposit in northwestern Quebec from Gestion Ora-Mirage Ltée in September 2022. Horden Lake is an advanced project
located approximately 140 kilometers north of the mining town of Matagami, and 300 kilometers north of the company’s wholly owned Belleterre-Angliers Copper-Nickel-PGM project, also in Quebec. The company has said that the project will be developed as a carbon-neutral operation, with its connection to the La Grange hydroelectric power complex.
- JORC Mineral Resource Estimate: 27.8 Mt at 1.49 percent CuEq containing 414 kt of contained CuEq
- Potential for Fast-tracking: Significant body of historical technical study work and more than 50,000 meters of drilling database makes for a huge potential to accelerate the project to pre-feasibility study
- Stable Infrastructure: Close to existing mines, transportation links and large hydropower facilities
- By-product Potential: Intercepts showed good grades of gold and cobalt, as well as silver and PGMs.
Pivotal Metals raised AU$4 million to advance its Quebec battery metals projects, Horden Lake and Belleterre-Angliers Greenstone Belt (BAGB). The capital raise will be used for a drill program at the flagship Horden Lake copper-nickel-PGM project, for which all necessary drilling permits have been received. An extensive metallurgical test program has been planned for Horden Lake, while additional exploration work at BAGB is also scheduled to progress this high-grade nickel-copper-PGM exploration project.
Belleterre-Anglier Exploration Project
Pivotal Metals strengthened its PGM-nickel-copper sulphide portfolio in Canada by acquiring the Alotta and Lorraine PGM-nickel-copper projects from Chase Mining Corporation. The acquisition, which combined with the Midrim and Laforce claims, now comprises the Belleterre-Anglier PGM-nickel-copper exploration project.
The Alotta and Lorraine tenement packages are adjacent to the Midrim and Laforce PGM-nickel-copper projects consolidating 157.4 square kilometers of the eastern portion of the Belleterre-Angliers Greenstone Belt located in the Abitibi-Pontiac Greenstone. The company now has a total of 137 new and reclassified targets identified across the combined exploration package, 20 of which were identified as ‘priority 1’ for further investigation.
- Previous open-pit mining at Lorraine during the 1960s produced recovered grades of 0.38 percent nickel, 0.90 percent copper, 0.62 g/t gold
- Drill results at Alotta are comparable to the historic high-grade polymetallic intersections at Pivotal Metals’ existing Midrim project, located just 1.5 kilometers NE of Alotta.
- Completed assays at Midrim and LaForce serve as proof of concept that the geological formations contain significant deposits. Testing has revealed 5 percent nickel in 10 percent sulfide at the Midrim nickel tenor and 10 percent sulfide at the Laforce nickel tenor
Simon Gray - Non-executive Chairman
Simon Gray was previously a director on the boards of Morgans Financial Limited and before that Shaw and Partners Limited, each being among the largest investment and wealth management firms in Australia. Prior to this, he was at various times Shaw’s deputy CEO and general counsel. Gray has a strong background in law and financial markets, having obtained a Bachelor of Laws, a Master of Law in Corporate and Commercial Law, and as a graduate of the Australian Institute of Company Directors.
Ivan Fairhall - Chief Executive Officer and Managing Director
Ivan Fairhall is a chartered engineer and mine finance professional with nearly 20 years of mining industry experience. He was most recently the CEO of TSX-listed Mawson Gold, prior to which he spent seven years as a senior investment manager with the UK private equity group Greenstone Resources, where he successfully identified, acquired and managed investments in development stage companies through to standalone production. Through his career, Fairhall has obtained an extensive technical grounding in various design, construction and commissioning roles, including considerable experience managing pre-development studies across the commodity and geographic spectrum.
Steven Turner - Non-executive Director
Steven Turner brings over 25 years of experience in the resource sector, having held senior roles in both industry and investment banking. During his career, Turner has been based in London, Aberdeen, Singapore, Brisbane and Madrid. Turner has raised significant capital for the development of resource projects, including equity, public bonds and project finance. Most recently he was head of business development at a private mining group, having been instrumental in the successful growth of the company from a junior to mid-tier Australian base metal operator. Turner holds Australian, Canadian and UK citizenship and is a fellow of The Chartered Accountants of England and Wales and a member of the Australian Institute of Company Directors.
Dr. Robert Wrixon - Non-executive Director
Dr. Robert Wrixon is currently a director of the mining venture capital group Starboard Global Limited and has 20 years of experience in corporate strategy, commodities marketing, mining M&A and mineral exploration management. He has previously run two listed junior resources companies in Australia, and prior to that spent five years in corporate strategy for Xstrata plc based in Sydney and London. Wrixon is an Irish national and holds a Ph.D. in mineral engineering from the University of California, Berkeley. Wrixon is not considered to be an independent director.
Daniel Rose- Non-executive Director
Daniel has extensive experience in the investment banking industry, commodity financing, origination and trading. He most recently served as CEO and director of VTB Capital Hong Kong (VTBC), overseeing an SFC-regulated investment banking platform focused on natural resources activities across global markets, structured and corporate finance, M&A and asset management. Rose has spent 18 years in the commodity markets working for Societe Generale (prior to VTBC) in Sydney, London, Hong Kong and Singapore. Rose holds a Bachelor of Law (Hons) and Bachelor of Commerce degrees from Bond University.
Eddy Canova – Executive Operations, Canada
Eddy Canova is a professional senior geologist (OGQ (403)-PGeo) with extensive experience of advancing exploration projects both in Quebec and internationally. Canova has successfully advanced exploration projects from inception to mine development, managed mining operations, and has followed through various study stages: preliminary economic evaluation, pre-feasibility, feasibility and environmental impact studies.
Amanda Wilton-Heald - Company Secretary
Amanda is a chartered accountant with over 20 years of accounting, auditing (of both listed and non-listed companies) and company secretarial experience within Australia and the UK. Amanda has been involved in the listing of junior explorer companies on the ASX and has experience in corporate advisory and company secretarial services.