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Pivotal Metals Limited (ASX:PVT) has revealed a 1,500-metre extension to its diamond drilling campaign at the Lorraine Mine East target within the Belleterre project in Québec, Canada. This addition builds on an initial 1,800-metre program that is close to completion. The expanded drilling will focus on several IP-defined magmatic sulphide and vein-hosted gold-copper anomalies located immediately adjacent to the former Lorraine Mine, which have never been drilled before. With a rig currently onsite nearing the Shanty Lake target, the company plans to move drilling operations to Lorraine Mine East after finishing the current hole. Meanwhile, an updated Mineral Resource Estimate (MRE) for the Horden Lake project is also anticipated soon.<\/p> <\/div>
Key Points<\/h3>
- Company: Pivotal Metals Limited (ASX:PVT)<\/li>
- Drilling at Belleterre's Lorraine Mine East extended by 1,500 metres, adding to the nearly completed initial 1,800-metre program<\/li>
- Eight priority targets identified, covering magmatic Cu-Ni sulphide and vein-hosted Au-Cu mineralisation, with plans for 1-2 holes per target initially<\/li>
- Historic Lorraine Mine produced about 600,000 tonnes at 1.4% Cu, 0.6% Ni, and 0.6 g\/t Au from 1964 to 1968; high-grade vein system remains mostly undrilled outside mined areas<\/li>
- Current diamond hole 26-PIV-08 is 150 metres from the Shanty Lake target; drilling will then shift to Lorraine Mine East<\/li>
- Horden Lake MRE update expected shortly, with a scoping study targeted before the end of Q3 2026<\/li>
- Investors should monitor initial Lorraine Mine East drill results and the upcoming Horden Lake MRE update<\/li>
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Expanded Lorraine Mine East Drilling Enhances Belleterre Exploration Efforts<\/h2>
On 2 July 2026, Pivotal Metals confirmed it will increase diamond drilling at Lorraine Mine East by 1,500 metres, supplementing the near-complete 1,800-metre program at the Belleterre project. This combined 3,300 metres of drilling reflects the company's systematic approach to identifying and testing targets across its 160-square-kilometre, wholly owned greenstone belt in Québec, Canada.<\/p>
Managing Director Ivan Fairhall highlighted the expansion targets anomalies "in the shadow of a proven, high-grade mineralising system — yet remarkably remain untested by drilling." The December 2025 IP survey identified multiple anomalies over a 1.8-kilometre strike length, correlating with both the Lorraine Mine’s magmatic sulphide deposit and the high-grade gold-copper vein system discovered during historic underground mining. The next step involves mobilising the drill rig to Lorraine Mine East after completing the current Shanty Lake hole.<\/p>
Historic Lorraine Mine Production Supports Exploration at Lorraine Mine East<\/h2>
The Lorraine Mine, a massive sulphide copper-nickel-gold deposit, was mined from 1964 to 1968, producing an estimated 600,000 tonnes grading 1.4% copper, 0.6% nickel, and 0.6 g\/t gold. Mining focused on near-surface massive sulphide bodies, primarily targeting copper-nickel mineralisation. Notably, the high-grade vein-hosted gold system encountered underground was not systematically drill-tested after mining ceased, leaving much of the structural corridor unexplored.<\/p>
Grab samples from mine dumps have returned up to 13.8 g\/t gold and 11.6% copper, confirming the high-grade nature of the mineralisation. The Lorraine gabbroic lithology extends about three kilometres east of the mined zone, offering substantial prospective ground for magmatic sulphide discoveries. These geological factors underpin Pivotal’s rationale for targeting previously undrilled anomalies just east of historic workings.<\/p>
Eight Priority Targets Identified from IP and Legacy Data<\/h2>
Pivotal has pinpointed eight priority targets at Lorraine Mine East based on the December 2025 Induced Polarisation survey and reinterpretation of prior exploration data, including surface mapping, geochemical and magnetic surveys, and sampling. The initial plan is to drill one to two holes per target within a 1,500-metre diamond drilling program, with further drilling contingent on results and operational sequencing such as follow-up geophysical surveys.<\/p>
The targets fall into two mineralisation styles. Magmatic copper-nickel sulphide targets (LIP1, LIP2, LIP11) show coincident high-chargeability, low-resistivity IP anomalies, and positive magnetic signatures, interpreted as gabbro-hosted semi-massive and disseminated sulphides related to the Lorraine Mine deposit. Historic surface samples from these areas reached 0.63% copper and 0.93% nickel, with drill intersections up to 0.56% copper and 0.72% nickel. Vein-hosted gold-copper targets (LIP3, LIP4, LIP5, LIP10) are defined by high-chargeability IP anomalies extending 1.8 kilometres east of the Lorraine Mine, coinciding with historic high-grade underground and surface results.<\/p>
Exceptional Underground Channel Samples Highlight Vein-Hosted Gold Potential<\/h2>
The structural corridor hosting vein-hosted gold-copper mineralisation at Lorraine Mine East is a key focus. Historic underground channel samples from the sixth level of Lorraine Mine included intervals such as 28 metres grading 45 g\/t gold and 3.2% copper, and 9.5 metres at 14.1 g\/t gold and 3.2% copper. Despite these outstanding results from the 1960s, the corridor remains largely unexplored beyond the mined area.<\/p>
Surface exploration has also yielded promising results, with gold grades up to 5.5 g\/t in outcrop 600 metres east of the mine and anomalous soil gold values of 1.1 g\/t extending 1.5 kilometres east along the structural trend. These surface data, combined with IP anomalies and proven underground grades, provide multiple lines of evidence for a significant untested gold-copper system. Confirmation by drilling could have substantial implications for the Belleterre project.<\/p>
Shanty Lake Target: Current Drill Hole 150m from Conductive Zone<\/h2>
While Lorraine Mine East is the expanded focus, Pivotal’s rig is currently drilling at the Shanty Lake magmatic sulphide copper-nickel target within Belleterre. Diamond hole 26-PIV-08 is approximately 150 metres from the Shanty Lake conductor, identified by the 2025 Fixed Loop Time Domain Electromagnetic (FLTEM) survey as a steeply dipping bedrock conductor measuring 400 by 150 metres starting at 150 metres depth.<\/p>
Shanty Lake lies between the Blondeau and Kelly Lake gabbro-hosted copper-nickel deposits. The target is bordered by gabbro bodies disrupting narrow iron formations within mafic volcanic sequences where historic drilling intersected anomalous copper and nickel. The combination of a prospective host, nearby mineralisation, and both VTEM and FLTEM conductors makes Shanty Lake a high-priority target. After completing the current hole, drilling will move to Lorraine Mine East, providing a sequence of updates from both targets in coming weeks.<\/p>
Québec’s Premier Mining Jurisdiction Supports Pivotal’s Operations<\/h2>
The Belleterre project is situated in Québec, Canada, a globally recognised Tier-1 mining jurisdiction featuring over 20 operating mines, established permitting processes, access to low-cost hydroelectric power, and year-round infrastructure. These factors offer significant advantages to exploration companies by lowering sovereign risk, enabling cost-efficient operations, and providing a clear regulatory pathway toward development if discoveries occur.<\/p>
Pivotal’s 100% ownership of the 160-square-kilometre Belleterre greenstone belt makes it the dominant landholder in the area. This sizeable tenure allows the company to pursue exploration across multiple target types—from magmatic sulphide copper-nickel to structurally controlled gold-copper—without land constraints. The current drilling programs form part of a broader strategy to systematically evaluate the property and identify potential new discoveries.<\/p>
Horden Lake MRE Update and Scoping Study Expected by Q3 2026 End<\/h2>
In addition to Belleterre drilling, Pivotal confirmed that an updated Mineral Resource Estimate for its Horden Lake copper-nickel-PGM development project is imminent. A scoping study is progressing concurrently and is expected to be completed before the end of Q3 2026. Horden Lake is a more advanced development asset distinct from Belleterre’s exploration portfolio.<\/p>
This dual-track approach—advancing Horden Lake toward development while actively exploring Belleterre—reflects a strategy of building near-term resource credibility alongside discovery potential. The upcoming Horden Lake MRE update could serve as a catalyst for the stock, given its potential to influence market perception. The company has not disclosed specific updated resource tonnage or grades.<\/p>
Implications of the Lorraine Mine East Expansion for Pivotal’s Discovery Strategy<\/h2>
The decision to increase the Belleterre drilling by 1,500 metres before completing the initial program demonstrates operational confidence in the targeting. The December 2025 IP survey combined with reinterpretation of legacy data generated sufficient targets to justify the expansion. The program is designed to be flexible, with progression through the eight targets depending on results and possible follow-up geophysical surveys.<\/p>
Key factors for investors will be whether initial Lorraine Mine East drill holes intersect sulphide mineralisation—either magmatic copper-nickel or vein-hosted gold-copper—and the grades and widths encountered. Given historic underground grades reaching 28 metres at 45 g\/t gold in the largely undrilled structural corridor, high-grade intercepts are possible. However, historic results and IP anomalies are not guarantees of economic mineralisation; drill targets remain hypotheses to be tested.<\/p>
Near-Term Share Price Outlook and Catalysts for PVT Investors<\/h2>
The immediate impact on Pivotal Metals’ share price is unclear from public information. Nonetheless, the announcement establishes a near-term news flow pipeline with multiple updates expected in coming weeks and months. The sequential drilling—completing Shanty Lake then starting Lorraine Mine East across eight targets—suggests staged drill results releases, each potentially guiding follow-up drilling.<\/p>
Alongside drill results, the Horden Lake MRE update and scoping study represent additional catalysts on a separate asset. This combination of active exploration and advancing development projects provides PVT investors with multiple data points through the second half of 2026. Upcoming milestones include completing hole 26-PIV-08 at Shanty Lake, commencing Lorraine Mine East drilling, and releasing the Horden Lake MRE update.<\/p>
Competent Person and Historical Data Notes on Lorraine Mine Results<\/h2>
Pivotal stated that the Lorraine Mine’s historic production estimate of roughly 600,000 tonnes at 1.4% copper, 0.6% nickel, and 0.6 g\/t gold is based on historical records. Similarly, underground channel samples of 28 metres at 45 g\/t gold and 3.2% copper, and 9.5 metres at 14.1 g\/t gold and 3.2% copper from the 1960s are historical data provided for geological context but have not been verified under current NI 43-101 or JORC Code standards.<\/p>
Investors and analysts should recognize that historical exploration data carries inherent uncertainties regarding sampling methods, chain of custody, and analytical techniques used at the time. Pivotal’s current IP survey and diamond drilling are intended to test these historical indicators with modern methods. Results from the ongoing drill program will provide the primary data set for assessing the potential of Lorraine Mine East targets.<\/p>
Expanded Lorraine Mine East Drilling Enhances Belleterre Exploration Efforts<\/h2>
On 2 July 2026, Pivotal Metals confirmed it will increase diamond drilling at Lorraine Mine East by 1,500 metres, supplementing the near-complete 1,800-metre program at the Belleterre project. This combined 3,300 metres of drilling reflects the company's systematic approach to identifying and testing targets across its 160-square-kilometre, wholly owned greenstone belt in Québec, Canada.<\/p>
Managing Director Ivan Fairhall highlighted the expansion targets anomalies "in the shadow of a proven, high-grade mineralising system — yet remarkably remain untested by drilling." The December 2025 IP survey identified multiple anomalies over a 1.8-kilometre strike length, correlating with both the Lorraine Mine’s magmatic sulphide deposit and the high-grade gold-copper vein system discovered during historic underground mining. The next step involves mobilising the drill rig to Lorraine Mine East after completing the current Shanty Lake hole.<\/p>
Historic Lorraine Mine Production Supports Exploration at Lorraine Mine East<\/h2>
The Lorraine Mine, a massive sulphide copper-nickel-gold deposit, was mined from 1964 to 1968, producing an estimated 600,000 tonnes grading 1.4% copper, 0.6% nickel, and 0.6 g\/t gold. Mining focused on near-surface massive sulphide bodies, primarily targeting copper-nickel mineralisation. Notably, the high-grade vein-hosted gold system encountered underground was not systematically drill-tested after mining ceased, leaving much of the structural corridor unexplored.<\/p>
Grab samples from mine dumps have returned up to 13.8 g\/t gold and 11.6% copper, confirming the high-grade nature of the mineralisation. The Lorraine gabbroic lithology extends about three kilometres east of the mined zone, offering substantial prospective ground for magmatic sulphide discoveries. These geological factors underpin Pivotal’s rationale for targeting previously undrilled anomalies just east of historic workings.<\/p>
Eight Priority Targets Identified from IP and Legacy Data<\/h2>
Pivotal has pinpointed eight priority targets at Lorraine Mine East based on the December 2025 Induced Polarisation survey and reinterpretation of prior exploration data, including surface mapping, geochemical and magnetic surveys, and sampling. The initial plan is to drill one to two holes per target within a 1,500-metre diamond drilling program, with further drilling contingent on results and operational sequencing such as follow-up geophysical surveys.<\/p>
The targets fall into two mineralisation styles. Magmatic copper-nickel sulphide targets (LIP1, LIP2, LIP11) show coincident high-chargeability, low-resistivity IP anomalies, and positive magnetic signatures, interpreted as gabbro-hosted semi-massive and disseminated sulphides related to the Lorraine Mine deposit. Historic surface samples from these areas reached 0.63% copper and 0.93% nickel, with drill intersections up to 0.56% copper and 0.72% nickel. Vein-hosted gold-copper targets (LIP3, LIP4, LIP5, LIP10) are defined by high-chargeability IP anomalies extending 1.8 kilometres east of the Lorraine Mine, coinciding with historic high-grade underground and surface results.<\/p>
Exceptional Underground Channel Samples Highlight Vein-Hosted Gold Potential<\/h2>
The structural corridor hosting vein-hosted gold-copper mineralisation at Lorraine Mine East is a key focus. Historic underground channel samples from the sixth level of Lorraine Mine included intervals such as 28 metres grading 45 g\/t gold and 3.2% copper, and 9.5 metres at 14.1 g\/t gold and 3.2% copper. Despite these outstanding results from the 1960s, the corridor remains largely unexplored beyond the mined area.<\/p>
Surface exploration has also yielded promising results, with gold grades up to 5.5 g\/t in outcrop 600 metres east of the mine and anomalous soil gold values of 1.1 g\/t extending 1.5 kilometres east along the structural trend. These surface data, combined with IP anomalies and proven underground grades, provide multiple lines of evidence for a significant untested gold-copper system. Confirmation by drilling could have substantial implications for the Belleterre project.<\/p>
Shanty Lake Target: Current Drill Hole 150m from Conductive Zone<\/h2>
While Lorraine Mine East is the expanded focus, Pivotal’s rig is currently drilling at the Shanty Lake magmatic sulphide copper-nickel target within Belleterre. Diamond hole 26-PIV-08 is approximately 150 metres from the Shanty Lake conductor, identified by the 2025 Fixed Loop Time Domain Electromagnetic (FLTEM) survey as a steeply dipping bedrock conductor measuring 400 by 150 metres starting at 150 metres depth.<\/p>
Shanty Lake lies between the Blondeau and Kelly Lake gabbro-hosted copper-nickel deposits. The target is bordered by gabbro bodies disrupting narrow iron formations within mafic volcanic sequences where historic drilling intersected anomalous copper and nickel. The combination of a prospective host, nearby mineralisation, and both VTEM and FLTEM conductors makes Shanty Lake a high-priority target. After completing the current hole, drilling will move to Lorraine Mine East, providing a sequence of updates from both targets in coming weeks.<\/p>
Québec’s Premier Mining Jurisdiction Supports Pivotal’s Operations<\/h2>
The Belleterre project is situated in Québec, Canada, a globally recognised Tier-1 mining jurisdiction featuring over 20 operating mines, established permitting processes, access to low-cost hydroelectric power, and year-round infrastructure. These factors offer significant advantages to exploration companies by lowering sovereign risk, enabling cost-efficient operations, and providing a clear regulatory pathway toward development if discoveries occur.<\/p>
Pivotal’s 100% ownership of the 160-square-kilometre Belleterre greenstone belt makes it the dominant landholder in the area. This sizeable tenure allows the company to pursue exploration across multiple target types—from magmatic sulphide copper-nickel to structurally controlled gold-copper—without land constraints. The current drilling programs form part of a broader strategy to systematically evaluate the property and identify potential new discoveries.<\/p>
Horden Lake MRE Update and Scoping Study Expected by Q3 2026 End<\/h2>
In addition to Belleterre drilling, Pivotal confirmed that an updated Mineral Resource Estimate for its Horden Lake copper-nickel-PGM development project is imminent. A scoping study is progressing concurrently and is expected to be completed before the end of Q3 2026. Horden Lake is a more advanced development asset distinct from Belleterre’s exploration portfolio.<\/p>
This dual-track approach—advancing Horden Lake toward development while actively exploring Belleterre—reflects a strategy of building near-term resource credibility alongside discovery potential. The upcoming Horden Lake MRE update could serve as a catalyst for the stock, given its potential to influence market perception. The company has not disclosed specific updated resource tonnage or grades.<\/p>
Implications of the Lorraine Mine East Expansion for Pivotal’s Discovery Strategy<\/h2>
The decision to increase the Belleterre drilling by 1,500 metres before completing the initial program demonstrates operational confidence in the targeting. The December 2025 IP survey combined with reinterpretation of legacy data generated sufficient targets to justify the expansion. The program is designed to be flexible, with progression through the eight targets depending on results and possible follow-up geophysical surveys.<\/p>
Key factors for investors will be whether initial Lorraine Mine East drill holes intersect sulphide mineralisation—either magmatic copper-nickel or vein-hosted gold-copper—and the grades and widths encountered. Given historic underground grades reaching 28 metres at 45 g\/t gold in the largely undrilled structural corridor, high-grade intercepts are possible. However, historic results and IP anomalies are not guarantees of economic mineralisation; drill targets remain hypotheses to be tested.<\/p>
Near-Term Share Price Outlook and Catalysts for PVT Investors<\/h2>
The immediate impact on Pivotal Metals’ share price is unclear from public information. Nonetheless, the announcement establishes a near-term news flow pipeline with multiple updates expected in coming weeks and months. The sequential drilling—completing Shanty Lake then starting Lorraine Mine East across eight targets—suggests staged drill results releases, each potentially guiding follow-up drilling.<\/p>
Alongside drill results, the Horden Lake MRE update and scoping study represent additional catalysts on a separate asset. This combination of active exploration and advancing development projects provides PVT investors with multiple data points through the second half of 2026. Upcoming milestones include completing hole 26-PIV-08 at Shanty Lake, commencing Lorraine Mine East drilling, and releasing the Horden Lake MRE update.<\/p>
Competent Person and Historical Data Notes on Lorraine Mine Results<\/h2>
Pivotal stated that the Lorraine Mine’s historic production estimate of roughly 600,000 tonnes at 1.4% copper, 0.6% nickel, and 0.6 g\/t gold is based on historical records. Similarly, underground channel samples of 28 metres at 45 g\/t gold and 3.2% copper, and 9.5 metres at 14.1 g\/t gold and 3.2% copper from the 1960s are historical data provided for geological context but have not been verified under current NI 43-101 or JORC Code standards.<\/p>
Investors and analysts should recognize that historical exploration data carries inherent uncertainties regarding sampling methods, chain of custody, and analytical techniques used at the time. Pivotal’s current IP survey and diamond drilling are intended to test these historical indicators with modern methods. Results from the ongoing drill program will provide the primary data set for assessing the potential of Lorraine Mine East targets.<\/p>
