- Hot Chili (HCH) continues to expand the Cortadera copper-gold discovery in Chile following the latest intersections from ongoing exploration efforts
- The explorer says the prospect is emerging as a strong addition to the area
- Drill hole CRP0124D returned a “broad intersection” of 362 metres at 0.6 per cent copper equivalent from 480 metres down-hole
- According to HCH, drilling efforts have increased the width of the main porphyry by approximately 100 metres
- Hot Chili shares are up 2.44 per cent to trade at 4.2 cents
Hot Chili (HCH) has continued to expand the Cortadera copper-gold discovery in Chile following the latest intersections from ongoing exploration efforts.
The explorer reported new assay results from resource extensional drilling taking place across the north flank to the core of the main porphyry at Cortadera, affirming the extension is emerging as a strong addition to the area.
The prospect is situated within Hot Chili’s Costa Fuego coastal copper development.
Drill hole CRP0124D returned a “broad intersection” of 362 metres at 0.6 per cent copper equivalent from 480 metres down-hole, including 82 metres grading one per cent copper equivalent from 634 metres.
According to Hot Chili, recent drilling efforts have increased the width of the main porphyry by approximately 100 metres, demonstrating “strong continuity of high-grade mineralisation”.
“Further expansion of the North Flank is expected to be confirmed with assay results pending from another step-out diamond hole,” HCH’s statement to market read.
Hot Chili’s Managing Director Christian Easterday said drilling continued to demonstrate strong continuity of high-grade extensions.
“The North Flank of the high-grade core to the main porphyry is a significant resource addition with wide results of +1%Cu Eq now recorded in multiple drill holes,” he said.
“Following our recent $40 million capital raising and Glencore’s strategic investment, we are now well-positioned to accelerate and broaden our growth plans for Costa Fuego’s existing 724 million tonne resource base.”
Hot Chili currently has three drill rigs in operation, with assay results from 27 drill holes expected in the next 44 days.
Hot Chili shares were up 2.44 per cent at 11:25 am AEST to trade at 4.2 cents.