Hot Chili Limited (ASX: HCH) has announced ‘strong’ extensional results from drilling at its Cortadera copper-gold porphyry project in Chile, with one hole delivering a 610m @ 0.5% CuEq intersection across the project’s northern flank.
Results from hole CRP0134D, which also include 138m @ 0.8% CuEq from 634m, along with the recently reported hole CRP0124D have extended the project’s northern flank by 170m, and come in advance of the company’s plan to upgrade the maiden 451Mt Cortadera resource.
“The North Flank of the high grade core to the main porphyry has continued to be a significant resource addition”
Speaking on the update, Hot Chili Resource Development Manager Kirsty Sheerin said: “The North Flank of the high grade core to the main porphyry has continued to be a significant resource addition. We have added approximately 170m of width to Cuerpo 3 and hope to extend several other open flanks to the high grade core by year-end. We are also continuing to see positive shallow intersections in the current RC drilling program at Cuerpo 2. The next resource upgrade at Cortadera will provide a strong basis for the first combined open pit and block cave mining reserve estimate at our growing Costa Fuego copper-gold development.”
Assays remain outstanding for a further five holes, which Hot Chili reports have delivered ‘wide’ visual mineralisation from surface. The company reports that three drill rigs are currently operating on site, with an 80m step-out diamond hole currently at 490m depth.
Cortadera, along with Productora & El Fuego form Hot Chili’s combined Costa Fuego project, which ranks as one of the largest low-altitude copper-gold resources in the world not controlled by a major miner.
The combined project’s mineral resource sits at 724Mt @ 0.48% CuEq for 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum.
Images: Hot Chili Limited