Veronneau Property

Property Overview

The Veronneau Property is a district-scale, drill-ready base and precious metals exploration project located in a top-tier mining jurisdiction in Québec, Canada. Spanning 259 squared km across 512 mining claims, the property covers nearly an entire greenstone belt and controls over 45 kilometers of highly prospective potential strike length. The asset features an established setting for high-impact nickel, copper, cobalt, gold, and platinum group element (PGE) discoveries, and directly adjoins the 37-million-ton Horden copper-nickel deposit. Additionally, the project benefits from premium logistical advantages, including direct road access via the Billy Diamond Highway and proximity to a low-cost, low-carbon Hydro-Québec substation.

The Veronneau Property consists of 512 mining claims spanning 259 km² (25,400 hectares) in Québec, Canada.
The land package covers a potential strike length of over 45 kilometers and encompasses nearly the entire greenstone belt.
The asset is a district-scale, drill-ready project featuring multiple base metal and gold showings.

Location & Infrastructure

Access: The property has direct road access via the Billy Diamond Highway (Route 109). It is situated 100 km from Waskaganish and 150 km from Matagami.
Power: A Hydro-Québec substation is located across the highway, providing immediate access to low-cost, low-carbon energy linked to the La Grande hydroelectrical dam network.
Jurisdiction & Tenure: Québec is a top-tier global jurisdiction with low political and permitting risk. The claims are situated on Category III lands defined under the 1975 James Bay and Northern Québec Agreement and supported by the 2018 Cree Nation of Eeyou Istchee Governance Agreement Act, establishing clear land tenure and partnerships with First Nations.
Fiscal Incentives: The project qualifies for Québec tax incentives that refund up to 45% of eligible exploration and development costs.

Horden Extention Zone

2023/24 Drill Program: First Drilling in Over 50 Years in the Horden Extension. As of April 2025, Pivotal reported an updated MRE of 37Mt @ 1.1% CuEq.

Horden Cu-Ni Deposit –Pivotal Metals (ASX: PVT)

MRE of 37Mt @ 1.1% CuEq, 51,814m of drilling

LEJ Showing (2017)

39,4% Ni –0,29% Co –35,5 g/t Au 24,2% Ni –0,51% Co –23,3 g/t Au

NE Zone

First-order structural corridor analogous to Abitibi-style greenstone belt, with Ni-Cu-Co, Au, & VMS Potential

Veronneau Property

512 mining claims – 259km2 (25,400 ha)

Regional Context

The property is located within the Canadian Archean Craton of the Superior Province, along the boundary of the Nemiscau and Opatica subprovinces.
It is adjacent to the Horden Cu-Ni Deposit (Pivotal Metals), which has a stated Mineral Resource Estimate of 37Mt at 1.1% CuEq based on 51,814 meters of drilling.

Exploration History

Late 1950s – 1960s: Initial mapping and geophysics were conducted following the discovery of the adjacent Horden Lake deposit by INCO. Initial sulphides were intersected without economic development.
1980s: SOQUEM executed airborne and ground geophysics seeking extensions to the Horden Lake deposit, identifying multiple conductors. A subsequent 14-hole drill program intersected anomalous gold.
1990s: Fancamp Resources and Fort Rupert Resources completed geological mapping, ground geophysics, and prospecting. The Marcaut Lake occurrence was discovered in 1987, returning high-grade channel samples up to 27 g/t Au. Teck Exploration completed subsequent geophysics and drilling, and Cambiex confirmed the high-grade gold mineralization through sampling in 1994.
2010s: Renewed government and company sampling (2015-2016) verified Au, Ag, and Cu mineralization at Veronneau Lake, including high-grade surface and channel results. Between 2016 and 2018, X-Terra conducted extensive airborne electromagnetics, mapping, and drilling. This work identified multiple conductive zones and confirmed structurally controlled, sulphide-hosted gold mineralization.
2020s: Drill campaigns in 2021 and 2022 confirmed multiple gold-bearing zones. In 2023 and 2024, Cunico Metals (via a predecessor company) operated drill programs that successfully explored the Horden Extension Zone.

NE Zone

First-order structural corridor analogous to Abitibi-style greenstone belt, with Ni-Cu-Co, Au, & VMS Potential

Bonanza-grade Ni-Au discovery within provincial park, on property border
LEJ Showing: remobilized sulphides grading 23-35 g/t Au & 24-39% Ni
Primary Target: bullseye mag-EM anomaly on strike to the NW of the LEJ Showing
Two prominent fault structures offset stratigraphy – Primary Target occurs between the two main faults
Geophysical survey has identified highly-prospective anomalies to the NW of LEJ (niccolite) Showing are untested