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Base Metals Energy Hotchili

Cortadera’s North Flank Delivers Again – 610m at 0.5% CuEq

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

To access the announcement please click on the link below.


Download full announcement here

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.

View the Cortadera Project

Hot Chili Limited
Head Office (Perth)
First Floor, 768 Canning Highway,
Applecross, Western Australia 6153

P: 08 9315 9009

Categories
Base Metals Energy Exclusive Interviews Junior Mining

HOT CHILI | Announces Cortadera Maiden Resource World-Class Copper-Gold Discovery


Transcript


https://youtu.be/3yFYkwv4hJU

Joining us for a conversation is Christian Easterday the CEO of Hot Chili Limited, which has just released their Maiden Resource on a Wold-Class Cortadera Copper-Gold Discovery in Chili! The
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.

The 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.The gold price forecast will be a driving catalyst, as a rising gold price will provide gold credits to allow Hot Chili’s organic growth. Find out why Rick Rule and Sprott have been early investors in Hoti Chili Limited.

TIMESTAMP:
:34 Introduction
4:00 Rick Rule commentary on investing Gold vs. Copper
6:42 What is the outlook Copper supply and demand fundamentals
12:22 The Cortadera Maiden Resource highlights
15:00 The Intangibles complimenting the Tangibles
24:37 Intermission
25:53 Gold Credits and Organic Growth
29:00 Fully Permitted/Licensed
31:54 What is the next unanswered, when can we expect results, and what determines success
36:04 What is the Capitals Structure for Hot Chili
39:00 How much cash is in the Treasury
41:40 Debt and Burn Rate
43:10 Who are the Major Shareholders for Hot Chili
46:35 What is the Float
48:15 What keeps Mr. Easterday up at night that we don’t know about
51:11 What did I forget to ask

HOT CHILI | ASX: HCH
Website: https://www.hotchili.net.au/
Corporate Presentation: https://bit.ly/2HxuYiG
Maiden Resource: https://bit.ly/31C79Nv
Contact Hot Chili:
P: 08 9315 9009
F: 08 9315 5004
E:admin@hotchili.net.au

Website| www.provenandprobable.com
Call me directly at 855.505.1900 or email: Maurice@MilesFranklin.com
Precious Metals FAQ – https://www.milesfranklin.com/faq-maurice/

Categories
Base Metals Blog Energy Junior Mining Top Bar

HOT CHILI | Releases Maiden Cortadera Resource Adds 451Mt grading 0.46%CuEq*


Mineral Resource


Corporate Presentation

 

Hot Chili Drilling

Building a copper super hub in Chile – ASX: HCH

Hot Chili is one of the top ASX listed copper developers with a Leading Global Copper Project with 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum – Costa Fuego

Hot Chili Limited (ASX.: HCH) ACN 130 955 725
First Floor, 768 Canning Highway, Applecross, Western Australia 6153
PO Box 1725, Applecross, Western Australia 6953
P: +61 8 9315 9009 F: +61 8 9315 5004
www.hotchili.net.au