- Hot Chili (HCH) hits a “spectacular” new drill intersection at its Valentina copper deposit within its Costa Fuego development in Chile
- Drilling at deposit returned an assay of three metres grading 11.8 per cent copper and 53 g/t silver, with mineralisation now defined over a 300-metre strike
- Results have now been returned for 11 of the 17 phase two drill holes, of which four recorded significant drill intersections
- Meanwhile, Hot Chili says it’s on-track to deliver its next resource upgrade for Costa Fuego later this year, followed by a pre-feasibility study in the first quarter of 2023
- Hot Chili is up 3.23 per cent, trading at 80 cents at 12:39 pm AEST
Hot Chili (HCH) has hit a “spectacular” new drill intersection at its Valentina Copper deposit within its Costa Fuego development in Chile.
Drilling at deposit returned an assay of three metres grading 11.8 per cent copper and 53 grams per tonne (g/t) silver, which Hot Chili said provides an exciting potential additional front-end ore source for the company’s Costa Fuego coastal range copper-gold development.
Mineralisation at Valentina is now defined over around 300 metres in strike and remains open at depth and along strike.
Results have been returned for 11 of the 17 phase two drill holes, with assays still pending for a further six, along with a further 12 drill holes from the San Antonio high-grade copper resource.
Of the 11 drill holes returned from Valentina, four recorded significant drill intersections, three intersected the mineralised structure and one intersected historical workings.
However, the remaining three drill holes did not intersect mineralisation.
Meanwhile, Hot Chili said it’s on-track to deliver its next resource upgrade for Costa Fuego later this year, followed by a pre-feasibility study in the first quarter of 2023.
Hot Chili was up 3.23 per cent, trading at 80 cents at 12:39 pm AEST.