Hot Chili Limited has achieved a groundbreaking drill result at its La Verde copper-gold porphyry discovery in Chile, marking a significant milestone for the company's flagship Costa Fuego project. The latest intercept spans an impressive 725 metres, with an average grade of 0.42 per cent copper equivalent, starting from a depth of 18 metres.
High-Grade Zones and Project Implications
Within this extensive intercept, several high-grade zones have been identified, including a 22-metre section grading 0.71 per cent copper equivalent from 42 metres and a deeper 62-metre run at 1.03 per cent copper equivalent from 671 metres. Additional zones include 46 metres at 0.65 per cent copper equivalent from 249 metres and 51 metres at 0.62 per cent copper equivalent from 433 metres.
Management highlights the deeper intercept as particularly transformative, confirming a 200-metre down-dip extension of La Verde's high-grade core. At shallower depths, the near-surface hit suggests potential for a starter pit, which could provide early high-grade feed for the Costa Fuego project, accelerating development timelines.
Supporting Drilling and Mineralisation Continuity
Supporting infill diamond holes have reinforced the continuity of bulk-tonnage mineralisation. One hole returned 184 metres at 0.42 per cent copper equivalent from 105 metres, while another notched up 221 metres at 0.37 per cent copper equivalent from 48 metres, including a 45-metre section at 0.51 per cent copper equivalent from 53 metres.
Diamond tail extensions have further expanded the discovery's footprint. A 200-metre tail on a previous hole reported 68 metres at 0.42 per cent copper equivalent from 354 metres, and a 284-metre tail delivered 132 metres at 0.36 per cent copper equivalent from 306 metres, opening up the system to the north along a structural corridor.
Additional Metals and Operational Updates
All significant intercepts included gold grades ranging from 0.03 to 0.29 grams per tonne, silver from 0.29 to 2.26 grams per tonne, and molybdenum from 3 to 203 parts per million. These additional metals may offer credits through bulk tonnage production, enhancing the project's economic viability.
Currently, Hot Chili operates two rigs at La Verde, with a diamond rig on double shift and a reverse-circulation rig on single shift. A third rig is planned for deployment in May, as the company continues to explore high-grade zones. With assay results pending for 11 holes, further news flow is expected to bolster the Costa Fuego project's development pipeline.
Hot Chili's managing director, Christian Easterday, stated, "We are very pleased to deliver the most significant drill result to date from our La Verde discovery. This wide intercept underscores the potential for transformative growth in our Costa Fuego project."
