Horden Lake's Copper Surge
Pivotal Metals Boosts Horden Lake Copper Resource by 42%, Reinforcing Scalable Development Potential
Key Points
Geology: Horden Lake is described as copper-dominant polymetallic sulphide mineralisation forming along a contact between gabbroic intrusive rocks and metasedimentary rock, a detail not included in the summary.
Ownership and scale since acquisition: Pivotal acquired Horden Lake in 2022 and now owns the project outright (100%), with the Mineral Resource Estimate nearly doubling in tonnage while CuEq grades remain consistent.
Open-pit copper within the pit shell: Contained copper in the open-pit portion sums to about 256,000 tonnes, roughly a 30% increase, underscoring the potential for open-pit development.
Exploration upside and horizons: The deposit extends about 2,800 metres along strike and remains open in multiple directions, with large-scale conductive horizons identified by 2025 geophysics that remain 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," said VP Exploration Paul Nagerl.
Pivotal Metals (ASX:PVT) has lifted the mineral resource at its Horden Lake project in Quebec by 42%, reaching 52.4 million tonnes at 1.05% copper-equivalent (CuEq) and containing 549,000 tonnes of CuEq metal, according to Kalkine. The update nearly doubles the project's tonnage since Pivotal acquired it in 2022, while keeping grades steady — a rare combination in early-stage copper development.
About 87% of the resource now sits inside a conceptual open-pit shell, with pit-constrained tonnage up 46% to 45 million tonnes at 1.07% CuEq. The result sets up a Scoping Study planned for Q3 2026, as the company bets on a copper-short global market, Mining.com.au reported.
Open-Pit Copper Jumps 30% in New Estimate
The open-pit portion of Horden Lake now holds roughly 256,000 tonnes of contained copper — a 30% increase over the previous estimate, according to Kalkine. Total contained copper across the full resource sits at about 292,000 tonnes. That is a meaningful jump for a project still in early development.
By-products add further value. The resource includes 549,000 ounces of platinum-group and gold metals (3E) and 17 million ounces of silver. Metallurgical tests show 90% copper recovery and 55% nickel recovery into clean concentrates, Kalkine reported. Those numbers suggest a straightforward processing path.
Geophysics Drives Deposit Extensions Along 2,800-Metre Strike
Horden Lake's mineralisation runs along a contact between gabbroic intrusive rocks and metasedimentary rock. The deposit now stretches about 2,800 metres along strike and remains open in multiple directions. That means the current resource is not the ceiling — it is a floor.
VP Exploration Paul Nagerl said the results highlight real upside. "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," he said. Large conductive horizons found during 2025 geophysics surveys have yet to be drilled, according to Mining News Net.
Pivotal Owns 100% of Project After 2022 Acquisition
Pivotal bought Horden Lake outright in 2022 and now holds 100% of the project. Since then, the mineral resource tonnage has nearly doubled. Grades have held firm throughout, which tells investors the drilling campaign is finding real deposit extensions — not lower-quality material on the fringes.
Kalkine noted that the updated resource strengthens the case for scalable open-pit development. Pivotal views Horden Lake as a flagship asset in its critical minerals portfolio, positioning the company to benefit from tight global copper supply.
Scoping Study and Investor Webinar Set for Mid-2026
Pivotal plans to advance Horden Lake through a Scoping Study in Q3 2026, with associated feasibility work to follow. The study will define a development path for what the company calls its most important asset.
Managing Director Ivan Fairhall will host a live investor webinar on July 8, 2026, to walk through the resource update and project trajectory, Kalkine reported. The session gives investors a direct look at how Pivotal plans to take Horden Lake from resource to mine.
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