Hot Chili (ASX:HCH) reports it has received ‘encouraging’ drill results, confirming the Cortadera copper-gold resource growth potential at the company’s Costa Fuego Copper-Gold Project in Chile.
The company reports the new drill assay results from the Cortadera copper-gold resource confirm ‘higher grade’ mineralisation, greater than 0.3% copper-equivalent (Cu-Eq), which increases the potential for future mineral resource expansion.
Results have been received for 3 of 6 holes completed, and partial results for 2 diamond holes and one reverse circulation (RC) hole. The ‘encouraging’ results include hole CRP0202D intersected 270m @ 0.5% Cu-Eq (0.4% Cu, 0.1g/t Au) from surface, including 114m @ 0.7 Cu-Eq (0.6% Cu, 0.1g/t Au) from 70m depth.
Additionally, Hot Chili reports hole CORMET001 intersected 84m @ 0.4% Cu-Eq (0.4% Cu) from 336m depth downhole, including 26m @ 0.6 Cu-Eq (0.6% Cu, 0.1g/t Au) from 374m depth.
Results are still pending for 3 additional drillholes that are testing the depth potential for copper-gold mineralisation below Cuerpo 1.
Meanwhile, Hot Chili states a first-pass drill program, consisting of 16 RC drillholes for 4,116m has been completed across 3 porphyry targets within the Western Cortadera (Antofagasta Minerals (AMSA) Landholding). Additionally, the company reports 15 drillholes are still pending results.
Once all assay results have been received and reviewed, both Hot Chili and AMSA will plan a second-pass drill program to follow up on the initial results of this program, which is expected to begin in the coming weeks.
Hot Chili is a senior copper developer company based in Chile. The company focuses on the development and growth of its 3 key copper projects, including the Cortadera, Productora, and El Fuego projects, all located in close proximity to one another.
Images: Hot Chili Ltd
