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Drill rigs at the Cortadera discovery. Source: Hot Chili
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  • Hot Chili (HCH) has extended the main Cuerpo 3 porphyry zone by 170 metres
  • This porphyry zone is located within the Cortadera copper-gold discovery in Chile where the company is conducting extensional resource drilling
  • The extension demonstrates the strong continuity of mineralisation ahead of Hot Chili upgrading the project’s maiden mineral resource
  • HCH is drilling a follow-up hole to extend the North Flank by a further 80 metres and the hole is currently at a 490-metre depth and is in mineralisation
  • Company shares are trading in the grey at 3.7 cents at 1:16 pm AEST

Hot Chili (HCH) has announced more drill results from the Cortadera copper-gold discovery in Chile.

The company has been conducting extensional resource drilling within the project which has continued to yield strong results from across the North Flank to the high-grade core of the main Cuerpo 3 porphyry.

One hole returned 610 metres at 0.5 per cent copper equivalent from 216 metres downhole including 138 metres at 0.8 per cent copper equivalent from 634 metres.

These results were reported at about the same vertical and lateral depth to a previously drilled hole which returned 82 metres at one per cent copper equivalent within a broader intersection of 362 metres at 0.6 per cent copper equivalent from 634 metres.

The latest intersection has extended the North Flank by around 170 metres, demonstrating the continuity of mineralisation.

Resource Development Manager, Kirsty Sheerin, was pleased to have expanded the main porphyry ahead of Hot Chili’s plans to upgrade Cortadera’s maiden mineral resource.

“The North Flank of the high grade core to the main porphyry has continued to be a significant resource addition,” she said.

“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.”

Hot Chili is now drilling a follow-up hole to extend the North Flank by a further 80 metres. The hole is currently at a 490-metre depth and is in mineralisation.

The company is also waiting on assays for another five holes which have recorded wide zones of oxide and sulphide mineralisation from surface.

Furthermore, HCH is preparing to list on the TSX Venture Exchange before the end of the year. Following the dual listing, it aims to release the resource upgrade which will be followed by the completion of a pre-feasibility study.

Company shares are trading in the grey at 3.7 cents at 1:16 pm AEST.

HCH by the numbers
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