Source: Hot Chili
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Hot Chili (HCH) finds another “outstanding” copper drill result at the Cortadera porphyry deposit, part of the Costa Fuego gold hub in Chile
  • One hole has intersected 658 metres at 0.6 per cent copper equivalent, including 130 metres at 0.9 per cent copper equivalent
  • Managing Director Christian Easterday says Cortadera has a “track record of outperforming expectations”
  • Hot Chili has now begun resource growth drilling at the San Antonio and Valentina copper deposits, located five kilometres northeast of Cortadera
  • Hot Chili is up 4.2 per cent and shares are trading at $1.24 at 11:46 am AEST

Hot Chili (HCH) has found another “outstanding” copper drill result at the Cortadera porphyry deposit, part of the Costa Fuego gold hub in Chile.

Drill hole CORMET005 has returned 658 metres at 0.6 per cent copper equivalent, including 130 metres at 0.9 per cent copper equivalent.

The same hole also recorded a 30-metre interval grading at 1.4 per cent copper equivalent from a 690-metre depth outside the current high-grade resource model.

This result comes from the current development study drilling at Cortadera.

Managing Director Christian Easterday said Cortadera has a “track record of outperforming expectations.”

“The pre-feasibility study in-fill drill program across Cortadera has collected important geotechnical and hydrogeological information and has also continued to define and expand high grade resources,” he said.

“Upgrading our resources with wide drill intersections grading 0.8 per cent to one per cent copper equivalent is a great outcome, which demonstrates the quality and growth potential of Costa Fuego as one of the only low-altitude, material, copper developments in the world capable of near-term development.”

Hot Chili has now commenced resource growth drilling at the San Antonio and Valentina high grade copper deposits, located five kilometres northeast of Cortadera.

Drilling is already underway at Valentina where 10 holes are planned, followed by 13 at San Antonio.

On the market, Hot Chili was up 4.2 per cent and trading at $1.24 per share at 11:46 am AEST.

HCH by the numbers
More From The Market Herald
The Market Herald Video

" Dateline Resources (ASX:DTR) releases MRE for Colosseum project, California

Shares in Dateline Resources (ASX:DTR) have spiked in early trade after the company released a fresh…

" ResApp (ASX:RAP) receives FDA clearance for SleepCheckRx

ResApp (ASX:RAP) receives 510(k) clearance from the US Food and Drug Administration (FDA) for its at-home…

" Galileo Mining (ASX:GAL) raises $20.4m to expand drilling at Callisto

Galileo Mining (ASX:GAL) raises $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in…
The Market Herald Video

" Strike Energy (ASX:STX) and Talon Energy (ASX:TPD) to commence flow testing at Walyering-6, WA

Joint venture (JV) partners Strike Energy (ASX:STX) and Talon Energy (ASX:TPD) are gearing up to begin…