Samso News: Pivotal Metals Limited (ASX:PVT) – Ore Sorting Delivers Up to 2.1x Grade Uplift at Horden Lake - Interesting Time.
- Noel Ong
- 2 hours ago
- 6 min read
Announcement
Copper Ore Sorting Delivers Up To 2.1x Grade Uplift at HL – 2 February 2026 ( view the announcement )
As the copper price continue to rise and global narrative are that the demand for copper is going to create a shock reaction to the market. The time lag that is required to find and then establish the supply infrastructure will struggle to meet the demand for copper.
As the world gear up for a new energy source to meet the surging demand for clean energy, those companies that are swimming in the "near-production" space is going to get a lot of interest, There will be no regard for the "grade" or "quality" of the project as gold investors are seeing in the gold sector in 2026.
This why Samso is showing interest in any stories that are hinting to be in that speher of influence. As I scoured the ASX for interesting news, Pivotal Metals is one of those that has been on our radar and this announcement appears to be creating noise that sits in the copper production chatter.
Pivotal Metals Limited is advancing the 100%-owned Horden Lake polymetallic (Cu-Ni-Au-PGM-Co) Project in Québec, Canada. The project hosts a 2025 Mineral Resource Estimate of 37Mt @ 1.10% CuEq for 407kt CuEq (Measured & Indicated + Inferred), with the majority amenable to open pit mining.
The latest ASX announcement dated 2 February 2026 reports large-scale XRT ore sorting test work that demonstrates the ability to materially upgrade plant feed grade while rejecting significant waste prior to grinding and flotation.
This update focuses on metallurgical optimisation and development pathway optionality which sits well in my earlier description.
Introducing Pivotal Metals Limited (ASX:PVT) - Ore Sorting Test work Demonstrates 2.1x Grade Uplift and Mass Rejection Benefits at Horden Lake
Figure 1: Grade uplift vs mass pull chart, showing CuEq grade uplift and recovery trade-offs. (source: PVT)
Pivotal announced results (Figure 1) from large-scale ore sorting trials conducted at the Saskatchewan Research Council (SRC), utilising industrial-scale TOMRA X-Ray Transmission (XRT) technology combined with heavy liquid separation (HLS).
The Horden Lake deposit hosts a 37Mt @ 1.10% CuEq Mineral Resource (In-pit and Out-of-pit combined), containing 407kt CuEq.
Highlights – Large-Scale Sorting Confirms Material Development Optionality
Table 1: Ore Sorting Summary Results (XRT + HLS). (source PVT)
Significant Grade Uplift Achieved
High-selectivity sorting produced a concentrate grading 2.08% CuEq, representing a 2.1x uplift from the 1.00% CuEq test feed grade.
This was achieved by rejecting 67.9% of the mass while recovering 68.9% of the copper.
Higher Recovery Operating Scenario
Using lower selectivity criteria, copper recovery increased to 86.2%.
This scenario delivered a 1.5x grade uplift with 43.6% mass rejection, providing flexibility between recovery and upgrade strategies.
Front-End Waste Rejection
Ore sorting removes waste at the crushing stage before grinding and flotation. Copper Ore Sorting Delivers Up …
Reduced downstream tonnage lowers grinding capacity requirements and flotation circuit size.
Capital and Operating Cost Levers
The announcement outlines potential benefits including:
Reduced plant capital intensity through smaller concentrator sizing.
Lower power, reagent and wear component consumption due to reduced throughput.
Reduced tailings volumes and smaller tailings management facility footprint.
Off-Site Processing Optionality
Higher-grade pre-concentrate may justify transport to third-party processing facilities in southern Québec. Copper Ore Sorting Delivers Up …
The Company notes that no binding arrangements currently exist for off-site processing.
Proven Commercial Technology
TOMRA XRT sorters operate at large-scale mining operations globally.
Examples cited include lithium operations at Pilgangoora and tungsten pre-concentration circuits.
Technical Context – Why Horden Lake is Amenable to Sorting
The Horden Lake mineralisation consists of disseminated to massive sulphide textures hosted along the contact between gabbroic intrusions and sedimentary rocks.
Drill intersections commonly include internal dilution from lower sulphide zones. The sorting program used continuous half-core composites across representative intervals to simulate mining dilution (Figure 2).
Figure 2 : Test protocols using sorting and sorting + gravity pre-concentration. (source: PVT)
The Phase 2 composite (251kg) was processed through cascade sorting tests to model grade-recovery trade-offs (Figure 4).
Figure 3 Screening, XRT sorting and HLS gravity, cumulative pre-concentrate grade vs recovery. (source: PVT)
Results (Figure 3) show that combined XRT and HLS provides higher grade uplift at lower recoveries, with diminishing benefits at higher recovery thresholds.
Figure 4: Spatial location of collected sample (green). (source: PVT)
Leadership Commentary
Managing Director Ivan Fairhall stated that the large-scale XRT results demonstrate development optionality for Horden Lake and support incorporation of ore sorting into future economic assessments.
He noted advantages in capital intensity, plant footprint, tailings management and permitting pathways, with XRT technology already proven at commercial scale globally.
Near-Term Milestones to Watch
Incorporation of ore sorting into internal project optimisation studies. Copper Ore Sorting Delivers Up …
Ongoing economic assessments of alternative development scenarios. Copper Ore Sorting Delivers Up …
Additional metallurgical testwork to assess flotation performance of sorted products. Copper Ore Sorting Delivers Up …
Continued resource and exploration upside review. Copper Ore Sorting Delivers Up …
Samso Concluding Comments
The February 2026 announcement presents metallurgical test work results focused on pre-concentration through ore sorting at Horden Lake. The reported outcomes show measurable grade uplift and mass rejection prior to downstream processing.
The test program outlines two operating scenarios: one prioritising grade uplift and one prioritising recovery. The data shows that selective sorting can materially increase feed grade while removing significant waste early in the flowsheet.
The technical work highlights potential impacts on capital intensity, operating costs and tailings volumes. These factors are directly linked to project design and economic modelling, and are expected to feed into future optimisation studies.
No new drilling results were reported. The focus of this release is metallurgical improvement and development pathway flexibility at an existing 37Mt @ 1.10% CuEq resource base in Québec.
Market Implication - The Investor Lens
Pivotal Metals has a current market valuation of AUD $27.52M (as of 18th February 2026) which is not so bad, in terms of retail investors taking a punt. As I have mentioned in the beginning of this Samso News, the while copper story is very hot and if PVT can make this current narrative work, the market is going to love the current market capitalisation.
Figure 5: The share price of PVT as of 18th February 2026. (source: commsec)
Looking at the current share price chart (Figure 5), there is interest starting to build in the story and I am sure, anyone who has had some exposure in this story will be starting to get excited. I strongly recommend DYOR and looking at your risk portfolio as timing to position yourself may be close.
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