Hot Chili extends enrichment zone at La Verde ahead of maiden MRE

• High-grade, near-surface copper-gold drill results at La Verde
• Company integrating La Verde into the Costa Fuego copper-gold project
• Three high-grade intersections from shallow depths
• Supports continuity of wide mineralised zones across the deposit

Hot Chili (ASX: HCH) has obtained another set of high-grade drill results from its La Verde copper-gold porphyry discovery in Chile as it progresses to towards a maiden maiden resource estimate (MRE).

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La Verde is located 30 km south of the company’s Costa Fuego copper-gold project planned central processing hub in Chile’s coastal Atacama region.

Significant intersections included DKP063 which recorded 398m grading 0.45% copper equivalent (CuEq) from surface including 62m at 0.91% CuEq from 20m depth and 12m at 1.00% CuEq from 20m depth.

“DKP063 is among the strongest near-surface intersections we have drilled at La Verde so far, with comparable grades are now appearing across the deposit, we have confidence in the scale of a potential high-grade starter pit for Costa Fuego,” MD, Christian Easterday, said.

“With assays from 22 holes still to come, our focus is on converting this drilling into a maiden Mineral Resource and, from there, integrating this into an enhanced and upscaled Costa Fuego pre-feasibility study.”

The DKP063 results featured a significant higher-grade component includes 62m grading 0.91% CuEq from just 20 m depth, demonstrating the continuity of high-grade mineralisation at shallow depths and reinforcing the potential for a high-grade starter pit, capable of delivering early higher-grade material to the Costa Fuego mine plan.

Hole DKP063 was designed to test a near-surface data gap between two interpreted high-grade areas, with the result indicating continuity of a broad blanket of oxide mineralisation in this area. Results from the final 177 m of this hole are still outstanding and are expected to be reported shortly.

Mr Easterday told shareholders three RC drillholes targeting the up-dip extension of high-grade mineralisation at La Verde have each returned wide intersections of copper-gold mineralisation from shallow depths.

“Importantly, these results are distributed across the deposit, highlighting the scale and continuity of La Verde’s growing high-grade core.”.

Additionally, DKP064, which was collared at the southern extent of La Verde’s high-grade core, returned 126m grading 0.45% CuEq from 54 m depth, including 26m at 0.70% CuEq from 108m, together with a second intersection of 74m grading 0.35% CuEq from 276m.

Mr Easterday said importantly, the presence of these grades at the southern margin of the interpreted high-grade core further supports the lateral continuity of higher-grade mineralisation and suggests potential for expansion in this direction, which remains to be tested.

Hot Chili continues to advance resource definition and development workstreams at La Verde, with a maiden MRE targeted for completion later this year.

The company expects to follow with a revised Costa Fuego PFS, incorporating La Verde, ahead of formal submission of the Costa Fuego environmental impact assessment (EIA) in Q2 2027.

Ongoing drilling continues to expand and upgrade confidence in La Verde’s high-grade copper-gold mineralisation, supporting the company’s objective of integrating the discovery into the Costa Fuego mine plan and development strategy.

HCH was steady at $1.60  with a Mkt cap of $323.6M.

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