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 demonstrate strong resource growth.
Hot Chili’s Resource Development Manager Kirsty Sheerin said the expansion of the main porphyry was very pleasing ahead of the Company’s plans to up-grade the maiden 451Mt Cortadera resource.
“We have added approximately 170m of width to Cuerpo 3 and hope to extend several other open flanks to the high grade core by year-end.
“The next resource upgrade at Cortadera will provide a strong basis for the first combined open pit and block cave mining reserve estimate at our growing Costa Fuego copper-gold development.”
Highlights:
- Hot Chili has recorded another strong extensional result at the Cortadera copper-gold porphyry discovery in Chile, further expanding the high grade resource (+0.7% CuEq) across the northern flank (North Flank) of the main porphyry (Cuerpo 3)
- CRP0134D returned an extensive intersection of 610m grading 0.5% CuEq (0.4% copper (Cu), 0.1g/t gold (Au)) from 216m depth down-hole, including 138m grading 0.8% CuEq (0.6% Cu, 0.1g/t Au) from 634m depth
- Results from CRP0134D and those recently reported from CRP0124D (362m grading 0.6% CuEq, including 82m grading 1.0% CuEq) have extended the North Flank by approximately 170m
- The Northern Flank of Cuerpo 3 remains open with another 80m step-out diamond drill hole underway (CRP0155D, currently at 490m depth and in mineralisation)
- Results pending for five drill holes from Cuerpo 2 which have visually recorded wide intersections of mineralisation from surface
- Three drill rigs in operation, 4,946m of assay results pending from 20 drill holes, assay turnaround currently 44 days
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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
