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- Hot Chili (HCH) intersects 17 metres of visual copper mineralisation at the Valentina deposit within its Costa Fuego project in Chile
- Drillhole VALMET-002 returned the 17-metre intersection from a 22-metre depth, including an eight-metre zone of “very interesting” copper mineralisation from 28 metres
- So far, 10 holes have been completed at the Valentina deposits, with all assays pending, and a further eight holes are planned
- Once drilling is completed, Hot Chili plans to conduct further exploration across Costa Fuego to support pre-feasibility studies and resource growth
- Hot Chili shares are down 7.94 per cent and are trading at 99 cents at 11:18 am AEST.
Hot Chili (HCH) has reported strong visual copper results from the Valentina deposit within its Costa Fuego project in Chile.
Drilling at Valentina has reportedly discovered a “significant” shallow copper zone roughly 120 metres south of the underground mine development in a hole dubbed VALMET-002.
The drill hole recorded a 17-metre intersection of copper mineralisation from a 22-metre depth. The mineralisation comprised malachite, copper clays, chalcopyrite, chalcocite and covellite.
The result also includes an eight-metre zone of “very interesting” copper mineralisation from a depth of 28 metres. This zone contains the same type of mineralisation as the 17-metre intersection but also contains cuprite which, like covellite and chalcocite, is a high-grade copper ore mineral.
The company said it planned to release assays from VALMET-002 and the other nine completed holes in the next few weeks.
Hot Chili has completed 10 holes at the Valentina deposit and a further eight holes are planned.
Once drilling has wrapped up at the Valentina and San Antonio deposits, the company plans to undertake further drilling to test several targets such as Santiago Z and porphyry targets along strike from Cortadera.
This work will support a pre-feasibility study for the Costa Fuego project and, potentially, an updated mineral resource.
Hot Chili shares were down 7.94 per cent and were trading at 99 cents at 11:18 am AEST.
