The price of copper has hit an 8 year high this morning at US$3.78/lb.
Copper is back to levels not seen since 2013, with the current market rally driven by = US stimulus driving economic + lower inventors + inflation expectations.
Hot Chili’s Costa Fuego copper resource in Chile is the largest copper resource held by an ASX-listed company, outside of the control of a major miner.
Costa Fuego’s resource stands at 2.9Mt of contained copper metal, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum (3.5Mt CuEq metal).
The Company looks forward to an exciting year of news flow from an aggressive, fully funded, 40,000m drilling programme which aims to establish Costa Fuego as the only Tier-1 copper developer on the ASX.
A strong period of news flow has begun and the Directors look forward to providing regular updates on our multiple activity streams.
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