Pivotal Metals (ASX:PVT) said step-out drilling at its Horden Lake copper-nickel-gold-platinum group metals-cobalt project in Canada identified high-grade intersections within wider zones of mineralization, according to a Thursday Australian bourse filing.

It encountered significant intersections during the 11-hole 1,556-meter step-out drill program of 19.5 meters at 0.71% grade of copper-equivalent from 125 meters, as well as 28.3 meters at 0.57% grade of copper-equivalent from 179.6 meters.

It targeted a shallow conductor identified via a fixed loop time domain electromagnetic survey, validating the technique as an effective tool for targeting mineralization at the project.

The firm's shares fell 25% in recent trading on Thursday.