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- La Verde porphyry discovery fast-shaping to cornerstone asset
- Several recently returned drill results continue to strengthen La Verde’s significance
- Planned maiden MRE upcoming
- Assays pending for 21 drillholes
Hot Chili (ASX:HCH) has received further strong drilling results from its La Verde copper-gold porphyry discovery, located 30 km south of the company’s Costa Fuego project planned central processing hub in Chile’s coastal Atacama region.
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MD, Christian Easterday, told shareholders the company’s ongoing focus on shallow infill and step-out drilling across the up-dip extension of La Verde’s high-grade core has delivered more outstanding results from RC drill holes.
He noted that numerous drilling intersections returned across the up-dip portion of La Verde’s high-grade core, including these latest results, contain broad zones of higher grade mineralisation from shallow depths.
Importantly, assay results are pending for nearby up-dip drillhole DKP052, results expected soon.
“These latest RC drill results further expand the footprint of near-surface higher-grade mineralisation and continue to strengthen the scale and continuity of a significant, near-surface, enrichment zone – capable of delivering a higher-grade starter pit opportunity for Costa Fuego.”
Recently returned assay results for step-out diamond drill holes DKD049 and DKP028D also confirmed additional bulk tonnage extensions and delivered further expansion of La Verde’s high-grade core.
Mr Easterday noted that importantly, DKD049 was designed as a 175m step-out from DKD039 – which recorded the highest-grade and widest drilling intersection to date at La Verde.
Results from DKD049 have confirmed a significant expansion of La Verde’s eastern flank at depth.
DKP028D successfully extended a previous RC drillhole (which ended in mineralisation), recording a further 200m down-hole of mineralisation across La Verde’s western flank.
Elsewhere, hydrogeological, geotechnical, metallurgical, mine engineering and environmental workstreams are all advancing well toward full integration of La Verde into the company’s Costa Fuego production hub.
A maiden MRE for La Verde is expected to be released later this year followed by a revised PFS for Costa Fuego and then finally culminating in the formal submission of an Environmental Impact Assessment for Costa Fuego in Q2 2027.
Mr Easterday said the company expects that La Verde’s rapid integration will be transformative for Costa Fuego’s financial metrics and global standing, already ranked amongst the world’s top five by-scale1, independent copper developments, not controlled by a major mining company.
“The directors look forward to increased news flow following debottlenecking of assay turnaround times and remedial works, following recent heavy rain events in the Atacama region. Next drill results from La Verde are expected shortly.”
HCH was down 1.67% to $1.48. Mkt cap $303.2M.Join the discussion: See what HotCopper users are saying about Hot Chili and be part of the conversations that move the markets.
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