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Hot Chili (ASX:HCH) has identified a cluster of magnetic features adjacent to its La Verde copper-gold porphyry discovery in Chile, which can be defined as “look-alike” and which raises the possibility of a wider district-scale porphyry system.
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The Chilean discovery – which includes three targets, two of which are under shallow gravel cover – was made through geochemical and geophysical work programs that followed up Hot Chili’s recent drilling at La Verde, confirming that the latter had a footprint of 1,000 metres by 750 metres.
Hot Chili began with geophysical data generated through integration of a 3D magnetic inversion model from ground magnetic data, which indicated a spatial correlation between a mineralised tonalitic porphyry intrusion and a NNE-SSW trending weakly magnetic anomaly over La Verde.
The latter is situated within a localised circular magnetic-low feature, and this relationship has been used as a basis for identifying three additional circular magnetic-low features (lookalike targets) close to La Verde; these were all set at the intersection point of major regional structures.
3D probability models for mineralisation at the targets were completed by Fathom Geophysics. An extensive soil geochemistry programme was used to guide this.
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Hot Chili will now integrate its findings into a phase two drilling program at La Verde, which was to initially focus on extending the main copper-gold discovery, but which will now include first pass drilling of the new targets.
HCH has been trading at 50 cents before open on Thursday.
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