- Diamond drilling activities have recommenced at Hot Chili’s Cortadera copper-gold porphyry discovery in Chile
- First phase drilling exceeded expectations and re-shaped the view of the size and grade of the discovery
- Porphyry specialist Dr Steve Garwin is in discussions with Hot Chili’s exploration team to refine its understanding of Cortadera
- Further drilling updates will be provided in the upcoming weeks
Hot Chili has recommenced drilling at its Cortadera copper-gold porphyry discovery in Chile.
Located 14 kilometres from its Productora copper development along with the coastal range of Chile, Cortadera has been the source of several exceptional drill results.
Promising results have not only boosted Hot Chili’s confidence in that Cortadera may be part of a much larger system but they provided significant share price momentum for Hot Chili who is now up 200 per cent from when they began at the start of the year.
The first phase of drilling exceeded expectations, dramatically re-shaping the view of the potential size and grade of the discovery.
Second phase drilling will initially focus on the largest of the four porphyries that have so far been discovered at Cortadera.
Recent results confirmed the discovery of a new high-grade, bulk tonnage zone of 188 metres grading 0.9 per cent copper and 0.4g/t gold. This was part of a standout diamond drill intersection of 750 metres grading 0.6 per cent copper and 0.2 g/t gold.
Pre-collars for the first two diamond holes of the second phase drill program are completed and double-shift diamond drilling is advancing well.
Porphyry specialist Dr Steve Garwin is in discussions with Hot Chili’s exploration team to refine its understanding of Cortadera and to help in drill targeting and design.
Dr Garwin has extensive experience with recent copper-gold porphyry discoveries most notably SolGold’s Cascabel deposit in Ecuador and its Batu Hijau deposit in Indonesia.
While it is still relatively new the Cortadera discovery has demonstrated many characteristics associated with major gold-rich, copper-gold porphyry systems.
Hot Chili will provide further updates on drilling in the upcoming weeks.