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.
- 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
To access the announcement please click on the link below.
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