- Hot Chili (HCH) has reported high-grade results from drilling at its Cortadera copper-gold porphyry discovery in Chile
- The drilling at Cuerpo 3, the main porphyry at the discovery, confirmed the continuity of the mineralisation over an 800-metre vertical extent
- The second of the two holes made a 190-metre intercept, grading 0.6 per cent copper and 0.2 grams of gold per tonne
- Importantly, these results are not included the maiden resource estimate for Cortadera which is due shortly
- Additionally, reverse circulation pre-collars are being prepared for diamond drilling of three large growth targets
- That resource expansion program will deliver a second resource estimate early next year
- Shares are trading 9.09 per cent lower for three cents at market close
Hot Chili (HCH) has reported high-grade results from drilling at its Cortadera copper-gold discovery in Chile.
Cortadera is just one of Hot Chili’s copper assets in the Chilean coastal range, located 14 kilometres from Productora and adjacent to El Fuego.
The drilling at the main porphyry at the Cortadera discovery, Cuerpo 3, confirmed the continuity of the mineralisation over an 800-metre vertical extent.
Results released today come from two drill holes, with hole CRP0016D intersecting 190 metres at 0.6 per cent copper and 0.2 grams of gold per tonne from 392 metres down-hole.
This intercept was made in what the company predicts is an extension to the high-grade core, and is not part of the maiden resource estimate for Cortadera due soon.
Additionally, Hot Chili is preparing reverse circulation pre-collars for diamond drilling elsewhere at the project as part of a resource expansion program.
The program will test three large growth targets; Cuerpo 2, Cuerpo 3 North and Cuerpo North. Results from which will contribute to a second Cortadera resource estimate to be delivered early next year.
Work is also underway clearing road access to Cortadera North ahead of drill testing in coming months. An exploration team has also carried out in-fill mapping and soil geochemistry across the two-kilometre long large target area.
Shares are trading 9.09 per cent lower for three cents at market close.