Hot Chili (ASX:HCH) announces Cortadera maiden mineral resource

• Hot Chili (HCH) has announced Cortadera’s maiden mineral resource, covering 451 million tonnes at 0.46 per cent copper equivalent
• The company said that result positions its wider Costa Fuego Project as a global leader in copper deposits
• The explorer’s next goal for Cortadera is to conduct first-pass drilling across three large growth targets, targeting an updated resource in 2021
• It’s also planning to finalise a maiden resource deposit for its San Antonio satellite deposit
• Shares in HCH are trading up 16.2 per cent at 4.3 cents each

Copper developer and explorer Hot Chili (HCH) has announced its first mineral resource estimate for its Cortadera coastal range porphyry discovery in Chile.

The asset’s maiden mineral resource sits at 451 million tonnes (Mt) at 0.46 per cent copper equivalent (CuEq), including a higher-grade of 104 Mt at 0.74 per cent CuEq.

The Cortadera resource brings the wider Costa Feugo mineral resource estimate to 724 Mt at 0.48 per cent CuEq for 2.9 Mt copper, 2.7 million ounces gold, 9.9 million ounces silver and 64 Kt molybdenum.

Hot Chili has welcomed the result, stating the strong maiden resource positions Costa Fuego as a global leader in terms of copper deposits.

“Our first resource for Cortadera is particularly significant when considering it is one of just two major copper discoveries to have been reported in the world since 2016,” Hot Chili’s Managing Director Christian Easterday said.

“Generating a 451 Mt maiden resource for Cortadera a mere 14 kilometres away from our established Productora deposit (with a 273 Mt resource) demonstrates the sheer scale of Hot Chili’s Coast Fuego copper hub,” he added.

Following the maiden result, the company said its next goal for Cortadera is to conduct first-pass drilling across three large growth targets.

The explorer will also pursue expansion drilling at the site in Chile to help deliver an updated resource estimate in 2021.

Alongside the work at Cortadera, Hot Chili is also planning to finalise a maiden resource deposit for its San Antonio satellite deposit.

Shares in HCH have opened the week trading up 16.2 per cent at 4.3 cents each at 11:09 am AEDT.