Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) is pleased to announce that recent drill results from its Cortadera copper-gold discovery in Chile continue to add significant resource growth from extensional drilling, as the Company’s Costa Fuego coastal copper development draws ever-closer toward Tier-1 status.
Highlights
- Hot Chili has recorded further strong extensional results from the Cortadera, demonstrating continued expansion of high grade resources (+1% CuEq) across the northern flank (North Flank) of the main porphyry (Cuerpo 3)
- CRP0124D returned a broad intersection of 362m grading 0.6% CuEq (0.5% copper (Cu), 0.2g/t gold (Au)) from 480m depth down-hole, including 82m grading 1.0% CuEq (0.7% Cu, 0.3g/t Au) from 634m depth
- Final assays from CRP0088D have significantly upgraded the initial result (reported to ASX 16th June, 2021) to 486m grading 0.6% CuEq (0.5% Cu, 0.2g/t Au) from 426m depth down-hole, including 168m grading 1.0% CuEq (0.8% Cu, 0.3g/t Au) from 682m depth
- High Grade (+1% CuEq) mineralisation shows strong continuity across the North Flank over 400m of strike length with further extensions expected (assay results for CRP0134D pending)
- Successful drill testing of additional open flanks at Cuerpo 2, results pending for five drill holes which have visually recorded wide intersections of strong porphyry mineralisation from surface
- Three drill rigs in operation, 6,302m of assay results pending from 27 drill holes, assay turnaround currently 44 days
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CRP00124D (702m depth down-hole) – 1.0% copper, 0.5g/t gold, 2.2g/t silver and 49 ppm molybdenum. Early-stage porphyry, sericite-chlorite-albite alteration with 11% A-B vein abundance
Cortadera Copper Project
Cortadera’s maiden Mineral Resource positions Hot Chili with the largest copper Mineral Resource and one of the largest gold Mineral Resources for an ASX-listed emerging company.
The Cortadera maiden Mineral Resource of 451Mt at 0.46% copper equivalent (CuEq) takes the total Mineral Resource estimate for Costa Fuego (Cortadera, Productora & El Fuego) to 724Mt at 0.48% CuEq for 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum. Cortadera also contains a higher grade component of 104Mt at 0.74% CuEq, and this has strong potential to continue growing rapidly with further drilling.
| Hot Chili Limited Head Office (Perth) First Floor, 768 Canning Highway, Applecross, Western Australia 6153 P: 08 9315 9009 |
