Hot Chili Limited (ASX: HCH) has announced highly positive results from the early stage diamond drilling at Cortadera copper-gold porphyry discovery in Chile.
HCH reported that the drilling has expanded the growth potential of the Cortadera deposit, confirming larger potential than the Company had anticipated.
Hot Chili announced that the first Diamond drill hole has confirmed a large northern extension to the Main Porphyry (Cuerpo 3) at Cortadera, while a second diamond drill hole is testing large extensions to bulk high-grade copper and gold mineralization at Cuerpo 3.
Hit Chili reported that the RC drill testing of the upper near-surface extent of the Main Porphyry has confirmed significant up-dip extensions to deeper sulphide mineralization.
The company announced that further Diamond holes are being planned to test potential for increasing copper & gold grade with depth across the Main porphyry, as evidenced in historical DD results.
The Diamond drill results are expected to be released within the coming fortnight
Cortadera porphyry copper-gold discovery
HCH’s 100%-owned Cortadera porphyry copper-gold discovery is located 14km southeast of the company’s flagship Productora project in central Chile.
The Cortadera ore system contains some of the most robust porphyry copper-gold drilling results and holds a global mineral resource of 5.2 million tonnes of copper and 12.3 million ounces of gold.
Cortadera’s three porphyry centres discovered till date are Cuerpo 1, Cuerpo 2, and the main porphyry, Cuerpo 3.
In early April, HCH had commenced a confirmation drilling programme comprising 17 holes for approximately 5,000m of RC and 1,500m of DD drilling, to confirm and extend areas of surface enrichment and wide, higher-grade, copper-gold sulphide mineralization.
Diamond (DD) drilling is currently being completed across Cuerpo 3 where previous DD drilling had recorded wide copper sulphide intersections which remained open.
Encouraging results from RC pre-collars
The company reported that several deep RC drill holes, which are pre-collars to planned DD holes, that were completed across the near-surface extent of Cuerpo 3 had ended in wide intersections of mineralisation at the limit of RC depth penetration (approximately 350m down-hole).
HCH said that the results have confirmed significant up-dip extensions to copper sulphide mineralisation recorded in deeper historical diamond drilling.
Some of the new significant RC pre-collar drill results include 156m grading 0.4% copper and 0.1g/t gold from 206m depth, 64m grading 0.5% copper and 0.2g/t gold from 140m depth, and 67m grading 0.4% copper and 0.1g/t gold from 278m depth, all ending in mineralisation. Also recorded was 154m grading 0.4% copper and 0.1g/t gold from 64m depth.
First DD hole CRP0012D
HCH reported that the first DD hole, CRP0012D, is now complete. The hole was designed to test and close-out the northwest extent of the Cuerpo 3 porphyry.
The company said that the hole recorded a wide intersection of porphyry from much deeper down-hole than expected (and further north than expected) with results due to be received shortly.
HCH added that while the majority of the wide porphyry intersection in this hole appears to be moderately mineralised, it highlighted a distinct change in the orientation of the porphyry body towards the north with a further 300m of width not closed off by any drilling.
Second DD hole CRP0013D
The Company reported that it is now completing a vertical DD hole (CRP0013D) to test the extent of a potential higher grade core of Cuerpo 3.
HCH said that the hole is currently at approximately 840m depth and is now planned to extend to approximately 1,000m depth following visual confirmation of increasing alteration and vein intensity associated with copper sulphide mineralisation.
Historical DD drilling at Cuerpo 3
The company’s previous work had highlighted a potential increasing grade profile with depth evident for copper, gold, and molybdenum across Cuerpo 3.
The previous DD drilling at Cuerpo 3 had recorded intersections including 864m grading 0.4% copper and 0.1g/t gold from 62m down-hole depth, including 348m grading 0.6% copper and 0.2g/t gold; 406m grading 0.4%copper and 0.2g/t gold from 276m down-hole depth, including 146m grading 0.6% copper and 0.2g/t gold; and 198m grading 0.6% copper and 0.2g/t gold from 652m down-hole depth.
HCH said that it is dedicating two DD holes from the current phase of drilling to test potential for increasing copper & gold grade with depth across the Main porphyry, as evidenced in historical DD results.
The Company reported that further drill results would be released as assays are received over the coming weeks.