Emerging copper producer Hot Chili (ASX: HCH) says it has discovered a porphyry-style deposit at its Productora project in Chile and now believes there could be more of them.
It says the latest drilling at the Alice deposit confirmed that it contained porphyry-style mineralisation.
"The addition of Alice and any further bulk porphyry-style discoveries will underpin substantial increases to Productora's mineral resources and reserves," Hot Chili says.
The drilling at Alice intersected "very wide zones of copper extending from surface and outlined the potential for significant extensions of higher-grade copper".
Results included 204m at 0.6% copper and 0.1gpt gold from within a broader intersection of 237m grading 0.5% copper and 0.1gpt gold from surface.
"The company believes there is strong evidence to suggest that Productora may host a cluster of deposits, as is the case at other known copper porphyry systems globally and within Chile," the company says.
Alice will now form part of the increased reserve and resource estimate being prepared for the overall pre-feasibility study at Productora.
It says the latest drilling at the Alice deposit confirmed that it contained porphyry-style mineralisation.
"The addition of Alice and any further bulk porphyry-style discoveries will underpin substantial increases to Productora's mineral resources and reserves," Hot Chili says.
The drilling at Alice intersected "very wide zones of copper extending from surface and outlined the potential for significant extensions of higher-grade copper".
Results included 204m at 0.6% copper and 0.1gpt gold from within a broader intersection of 237m grading 0.5% copper and 0.1gpt gold from surface.
"The company believes there is strong evidence to suggest that Productora may host a cluster of deposits, as is the case at other known copper porphyry systems globally and within Chile," the company says.
Alice will now form part of the increased reserve and resource estimate being prepared for the overall pre-feasibility study at Productora.