- Hot Chili (HCH) has entered two consecutive trading halts while it considers, plans, and executes a capital raise
- The copper explorer will remain in the halts until November 20 or when an announcement is made
- Mid-last week, Hot Chili announced recent results from the Cortadera copper-gold discovery in Chile have the potential to upgrade the current mineral resource
- This drilling extended a previous diamond hole and further extended the strike and depth of the Cuerpo 3 porphyry
- Hot Chili also drilled its first diamond hole below the Cuerpo 2 porphyry and recorded a 500-metre zone of mineralised porphyry
- Results for this hole are pending but have been assigned priority turnaround
- Shares in Hot Chili last traded for 4.9 cents on November 10
Hot Chili (HCH) has entered two consecutive trading halts while it considers, plans, and executes a capital raise.
The copper explorer will remain in the halts until the earlier of November 20 or when an announcement is made.
Mid-last week, Hot Chili announced recent results from the Cortadera copper-gold discovery in Chile have the potential to upgrade the current mineral resource.
The current maiden mineral resource sits at 451 million tonnes at 0.46 per cent copper equivalent including a higher-grade of 104 million tonnes at 0.74 per cent copper equivalent.
This recent diamond drilling extended a previous diamond hole and returned a significant result of 387 metres at 0.4 per cent copper and 0.1g/t gold from 648 metres including 130 metres at 0.5 per cent copper at 0.2g/t gold.
Additionally, this result further extends the strike and depth of the Cuerpo 3 porphyry.
Hot Chili also drilled its first diamond hole below the Cuerpo 2 porphyry and recorded a 500 metre zone of mineralised porphyry.
Results for this hole are pending but have been assigned priority turnaround.
These results from both Cuerpo 3 and Cuerpo 2 underpin Hot Chili’s belief that Cortadera is quickly growing towards a tier-one copper discovery.
Shares in Hot Chili last traded for 4.9 cents on November 10.