Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) is pleased to announce that it is preparing to commence drilling a series of large-scale exploration targets in parallel with resource expansion drilling at its Costa Fuego copper-gold development hub in Chile.
Advanced Three-Dimensional (3D) Geochemical targeting,using multielement surface geochemical data, has been applied for the first time across Hot Chili’s consolidated Costa Fuego copper-gold development hub in Chile
The 3D geochemical approach generated probability models which accurately mirrored existing copper resource models at both Cortadera and Productora
Two, large-scale, 3D geochemical targets have been identified as high probability for immediate drill testing– Productora Central and Santiago Z – both considered potential game changers for Costa Fuego’s growing resource base
Both new 3D geochemical targets are larger in size than the main porphyry (Cuerpo 3) at the Company’s Cortadera copper-gold discovery, where three drill rigs are currently operating to upgrade its maiden 451Mt resource
A fourth drill rig is being secured to commence exploration drilling at Productora Central in Q4 this year and regulatory approval for drilling at Santiago Z is expected in December.
Next assay results from resource expansion drilling at Cortadera expected shortly
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Logging core at Cortadera
View looking SE across Productora – New, large 3D geochemical target set to be drilled in Q4 this year
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