Pivotal Metals Expands Cu-Ni-PGM Footprint with Bambino Acquisition at Belleterre

Bambino Acquisition Broadens Belleterre's Polymetallic Potential

Pivotal Metals (ASX:PVT) has taken a decisive step to deepen its stake in Québec's prolific Belleterre district by securing an option agreement to acquire the Bambino Project. This 3,320-hectare property surrounds and connects key known polymetallic occurrences at Delphi-Patry and Zullo, effectively consolidating a 6km corridor of high-grade copper-nickel-platinum group metals (Cu-Ni-PGM) mineralisation dubbed the Midrim-Zullo trend.

The acquisition not only enlarges Pivotal’s exploration footprint but also provides access to extensive underexplored gabbroic host rocks interpreted as folded sills; prime structural settings for magmatic sulphide deposition. Historical data underpinning the project reveal impressive mineralised intersections, including 21.1m at 2.5% copper, 1.7% nickel, and 2.7g/t PGE at Midrim, and 25.6m at 1.8% copper, 1.4% nickel, and 1.7g/t PGE at Alotta, reinforcing the district’s prospectivity.

Strategic Consolidation Enables Systematic Exploration

Prior to this deal, exploration was fragmented and largely focused on shallow, outcropping zones, with the Bambino area seeing no drilling since 2002. Pivotal’s acquisition resolves ownership complexities, notably at the Zullo occurrence last drilled in 1987, and opens up substantial tracts of prospective gabbro that have seen limited effective exploration.

Managing Director Ivan Fairhall highlighted Bambino’s potential to expand the company’s control over a regional mineralising system with proven high-grade results. He emphasised the importance of structural features such as fold limbs and noses as key vectors for sulphide accumulation, which will be the focus of upcoming geophysical surveys scheduled to commence in September, paving the way for drilling in the fourth quarter.

Option Agreement Terms and Next Steps

Pivotal’s option to acquire 100% interest in Bambino involves C$125,000 in cash, issuance of 9.6 million shares, and a commitment to C$500,000 in exploration expenditure over three years. The vendors will retain a 2% net smelter return royalty, with Pivotal holding the right to buy back 1% for C$1 million. Milestone payments tied to mining decisions and production are also structured to offset future royalties.

Initial exploration efforts will integrate historical drilling, soil geochemistry, and magnetic data to refine geological models and prioritise targets, particularly fold noses and structural conduits identified as prospective for sulphide mineralisation. Electromagnetic surveys will be employed to detect conductive massive sulphides beyond known occurrences.

Ongoing Drilling at Lorraine and Regional Infrastructure Advantages

Meanwhile, drilling continues at Pivotal’s Lorraine Mine, with over 1,000 metres completed across multiple targets despite some delays due to contractor productivity. Assays from the recently completed Shanty Lake target are awaited, alongside downhole electromagnetic survey results.

The Belleterre project benefits from robust infrastructure, including road access, electrical grid, skilled workforce, and proximity to existing milling and smelting facilities such as Agnico Eagle’s Canadian Malartic Mine and Glencore’s Horne and Sudbury smelters. These factors could materially reduce development costs for any future discoveries.

In parallel, Pivotal’s flagship Horden Lake project continues to underpin the company’s growth, with a recent resource upgrade to 52 million tonnes at 1.05% copper equivalent, supporting ongoing studies and exploration at Belleterre and beyond.