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- Hot Chili (HCH) has received another record drill result from its Cortadera copper-gold porphyry discovery in Chile
- This new result graded 0.7 per cent copper and 0.2 grammes per tonne gold
- However, Hot Chili will not be able to follow up this result as operations have been temporarily suspended due to the COVID-19 pandemic
- During this time, the company will speed up estimations for a first resource at Cortadera
- Before operations shut down, Hot Chili had drilled just over half of its next expansion diamond drill hole
- Results from multiple holes are expected in the coming weeks, subject to turn-around time at laboratories
- Hot Chili is up a hot 9.09 per cent on the market today and shares are trading for 1.2 cents each
Hot Chili (HCH) has received another record drill result from the Cortadera copper-gold porphyry discovery in Chile.
The new result from diamond drill hole CRP0040D recorded a 542 metre intersection grading 0.5 per cent copper and 0.2g/t gold from 422 metres, including 218 metres at 0.7 per cent copper and 0.2g/t gold.
This is Hot Chili’s sixth record drill result delivered from Cortadera since July last year.
Importantly, this result has significantly extended the strike length of the largest porphyry discovered to date — Cuerpo 3 — by a further 100 metres.
The bulk tonnage and high grade core discovered at Cuerpo 3 is continuing to expand as a key value driver in the development potential of Cortadera.
However, Hot Chili will not be able to follow this up as the company has temporarily suspended drilling operation in Chile due to the COVID-19 pandemic.
Despite this, the company will use this time to accelerate its preparations towards the estimate of a first resource for Cortadera.
Before operations shut down, Hot Chili drilled its next expansion diamond drill hole, CRP0042D, to a depth of 616 metres.
This hole is designed to test the southern extension of Cuerpo 3 at depth.
CRP0042D has been temporarily suspended in mineralised porphyry, having intersected mineralised skarn and mineralised porphyry dykes from a depth of 480 metres.
Upon re-commencement of operations, CRP0042D will be drilled to a depth of 1200 metres.
In addition, Hot Chili have completed two deep reverse circulation (RC) pre-collars across the Cuerpo 3 North target ,which is located 500 metres north of the main porphyry.
Results from diamond hole CRP0042D and RC holes CRP0041 and CRP0043 are expected in the coming weeks, subject to turn-around time from laboratories.
Hot Chilli is up a hot 9.09 per cent today with share trading for 1.2 cents each at 12:01 pm AEDT.
