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Hot Chili (ASX:HCH) - Managing Director, Christian Easterday
Managing Director, Christian Easterday
Source: The Market Herald
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  • Hot Chili (HCH) has recommenced diamond drilling at its Cortadera copper-gold discovery in Chile
  • The aim of this drilling is to expand the high-grade copper and gold mineralisation at the project and test areas which have not previously been tested
  • Hot Chili has also updated the market on preparations for lease mining at its Productora copper project
  • On June 2, the company announced it had teamed up with Chilean government agency, Empresa Nacional de Mineria (ENAMI)
  • These two companies will work together to speed-up production from the Productora project
  • Hot Chili has ended the day 5.56 per cent in the red and shares trading for 1.7 cents each

Hot Chili (HCH) has recommenced diamond drilling at its Cortadera copper-gold discovery in Chile.

Hole CRP0042D, which was temporarily suspended in March due to COVID-19, has been re-entered. This hole was suspended at a depth of 616 metres and it has been planned to extend another 420 metres.

A total of seven initial holes have been planned with aims to significantly expand the extent of high-grade copper and gold at the project.

The holes will first test areas within the main porphyry that have not been tested and remain open.

Hot Chili remains on-track to present a first resource estimate for Cortadera.

Cortadera is located 600 kilometres south of Santiago and it is considered one of the largest copper-gold discoveries in the world.

Since the discovery in 2011, only 39 diamond holes have been drilled, for 23,231 metres, with results peaking at one per cent copper and 0.4g/t gold.

Hot Chili has also updated the market on preparations for lease mining at its Productora copper project.

On June 2, the company announced it had teamed up with Chilean government agency, Empresa Nacional de Mineria (ENAMI).

This partnership will provide a low-risk pathway to speed-up first production at Productora as well as provide certainty for ore supply at ENAMI’s processing facility.

This will run for two-years and it involves the concession for the mining and processing of approximately 120,000 tonnes per annum of ore through ENAMI’s Vallenar plant.

An analysis of the underground mines at Productora has identified a new area, the Habanero Lode, which will be the next focus.

Hot Chili has ended the day 5.56 per cent in the red and shares trading for 1.7 cents each in a $37.29 million market cap.

HCH by the numbers
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