- Hot Chili has shared with the market some more strong results from the latest phase of drilling at the Cortadera project in Chile
- An 848 metre intersection grading 0.4 per cent copper and 0.2 grams per tonne gold from 11 metres down-hole depth to end of hole was intersected
- Hot Chili is busy drilling another hole designed to test for an even greater high grade mineralisation in the Cortadera project area
- Shares in Hot Chili are currently worth 3.7 cents each, and the company’s market cap is $48.38 million
Just a month after kicking off a phase 2 drilling program at its Chilean copper-gold project, Hot Chili has shared with the market some more spicy results.
All assays have been received from the first diamond drill hold of the latest phase of drilling at the Cortadera project, and Hot Chili says the hole has produced the second best intersection recorded to date.
The hole delivered an 848 metre intersection grading 0.4 per cent copper and 0.2 grams per tonne gold from 11 metres down-hole depth to end of hole, and included 184 metres grading 0.7 per cent copper and 0.3 grams per tonne gold from 720 metres down-hole depth.
Hot Chili says these results extend high grade mineralisation roughly 100 metres to the east from strong perviously recorded results.
The results at the Cortadera project to date are similar to SolgGold’s early drill results from its Cascabel copper-gold deposit in Ecuador, which outlined the start of a bulk tonnage high-grade zone in the area.
Hot Chili is busy drilling another hole designed to test for an even greater high grade mineralisation in the Cortadera project area. According to the company, this hole unexpectedly recorded a wide zone of strongly mineralised porphyry between 340 and 780 metres.
However, poorly mineralised porphyry and late stage dykes were drilled through between 780 and 985 metres. Assays from this hole are expected to be returned in the coming weeks.
Shares in Hot Chili are slightly on the rise after today’s announcement, up 2.78 per cent at 3:20 pm AEST. Shares in Hot Chili are worth 3.7 cents each, and the company’s market cap is currently $48.38 million.