Highlights:
· New drill results from the Cortadera copper-gold porphyry deposit in Chile confirm growth of shallow resources at both Cuerpo 1 and 2. These include:
CRP0148 – 156m grading 0.4% CuEq* (0.4% copper (Cu), 0.1g/t gold (Au)) from surface,
including 32m grading 0.6%CuEq* (0.5% copper (Cu), 0.2g/t gold (Au)) from 90m depth
CRP0183 – 80m grading 0.4% CuEq* (0.4% copper (Cu), 0.1g/t gold (Au)) from 10m depth
including 12m grading 0.6%CuEq* (0.6% copper (Cu), 0.1g/t gold (Au)) from 44m depth
CRP0178 – 72m grading 0.4% CuEq* (0.4% copper (Cu), 0.1g/t gold (Au)) from surface
including 28m grading 0.7%CuEq* (0.7% copper (Cu), 0.1g/t gold (Au)) from surface
CRP0176 – 114m grading 0.3% CuEq* (0.3% copper (Cu), 0.1g/t gold (Au)) from surface
including 24m grading 0.6%CuEq* (0.6% copper (Cu), 0.1g/t gold (Au)) from surface
CRP0158 – 62m grading 0.4% CuEq* (0.4% copper (Cu), 0.1g/t gold (Au)) from 4m depth
including 18m grading 0.7%CuEq (0.6% copper (Cu), 0.2g/t gold (Au)) from 26m depth
· Exploration drilling commenced across the Productora central porphyry target, immediately adjacent to the Productora Mineral Resource – several large copper-gold targets scheduled for testing this year
· Further assay results from Cortadera being compiled for release in advance of a major resource upgrade in Q1 this year, following over 46,000m of additional drilling completed in 2021
Hot Chili’s Managing Director, Christian Easterday, said 2022 is shaping up to be an exciting year following a very strong set of achievements in 2021.
“We commence the year with $34 million in treasury, 100 percent ownership of Cortadera, Glencore as a strategic investor and our Company now consolidated and dual-listed in Canada.”
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Cortadera Copper Deposit
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 Copper Deposit
