Hot Chili (ASX:HCH) says its La Verde copper-gold porphyry discovery in Chile’s coastal Atacama region is emerging as the company’s ‘cornerstone’ asset, following further drilling success.
The company has returned multiple significant intercepts from both shallow reverse circulation (RC) and deeper diamond drilling, continuing to expand the discovery’s footprint ahead of a planned maiden mineral resource estimate (MRE).
Recent RC drilling has delineated a substantial near-surface enrichment zone, with one hole recording 250m @ 0.50% copper equivalent (CuEq) from 64m depth, including 36m @ 0.72% CuEq from 82m.
A second hole intersected 124m @ 0.46% CuEq from 42m depth, including 26m @ 0.71% CuEq from 58m, while a third hole returned 90m @ 0.45% CuEq from 56m depth.
Stepout diamond drilling also delivered key results, with one hole recording 213m @ 0.44% CuEq from 504m depth, including 57.3m @ 0.60% CuEq from 535.8m.
The company says the shallow infill and stepout drilling across the up-dip extension of La Verde’s core continues to strengthen the scale and continuity of a significant near-surface enrichment zone.
Hot Chili notes the results support the potential for a higher-grade starter pit opportunity at its Costa Fuego Project, located 30km north of La Verde.
With assays pending for 21 drill holes, the company has commissioned a second accredited laboratory to improve turnaround times.
Hot Chili says La Verde’s integration will be ‘transformative’ for Costa Fuego’s financial metrics, with the project already ranked among the world’s top five by-scale independent copper developments not controlled by a major mining company.
A maiden MRE for La Verde is expected later this year, followed by a revised Prefeasibility Study for Costa Fuego and formal submission of an environmental impact assessment in Q2 2027.
Hot Chili is focused on developing the Costa Fuego Copper-Gold Project in Chile’s Atacama region.
Write to Paula Fabe at Mining.com.au
Images: Mining.com.au
