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- Hot Chili (HCH) is pushing ahead with pursuits to build its copper-gold core at the Cortadera discovery in Chile after receiving its newest drill results
- The explorer says the results confirm continuity and extensions on the high-grade copper-gold core at Cortadera, including 0.4 per cent copper and o.1 g/t gold
- One diamond drill hole recorded two wide zones of strongly mineralised porphyry, which Hot Chili says it now plans to extend
- Overall, it represents an incremental step in the company’s efforts to deliver a major resource upgrade this year
- Hot Chili shares are off a slight 2.44 per cent during the lunchtime session, trading at 4.1 cents each
Hot Chili (HCH) is pushing ahead with pursuits to build its copper-gold core at the Cortadera discovery in Chile.
The West Australian exploration company said it received “significant” new drill results confirming continuity and extensions on the high-grade core of the main
porphyry (igneous rocks) at Cortadera.
Key results from the CRP0052D drill come in at 0.4 per cent copper and 0.1g/t gold at 382 metres and include 80-metre gradings of 0.6 per cent copper & 0.2g/t gold.
Hot Chili says it has also recorded two wide zones of “strongly mineralised porphyry” in diamond drill hole CRP0046D, which it plans to extend a further 200 metres.
HCH says results are pending from this discovery.
In a broader context, it marks a steady step in HCH’s 2021 work programme to build Costa Fuego up to tier one copper project in the hope of delivering a major resource upgrade this year.
Hot Chili’s current contained metal resource base sits at 2.9 million tonnes copper and 2.7 million ounces gold, which it is looking to up to 5 million tonnes copper to earn tier one status.
There are currently two drill rigs at Hot Chili’s Cortadera campaign, with a third expected to arrive in February to execute an additional five diamond drill holes.
Hot Chili shares are off 2.44 per cent following the news, trading at 4.1 cents each at 12:37 pm AEDT.
