- Hot Chili (HCH) launches a 30,000-metre drilling program at its Costa Fuego copper-gold project in Chile
- The fully-funded program aims to accelerate exploration and mineral resource growth
- Initial drilling is focussed on satisfying the company’s remaining 3000-metre drill commitment with Antofagasta Minerals
- Costa Fuego holds significant potential as a major copper development, capable of delivering new copper supply this decade
- Hot Chili was last trading at $1.47
Australian copper-gold explorer Hot Chili (HCH) has launched a 30,000-metre drilling program at its Costa Fuego copper-gold project in Chile.
It comes as the company recommences drilling activities across the western extension of the Cortadera porphyry resource in the coastal range of the Atacama region in Chile.
The program started five days ago and is aimed to accelerate exploration and bolster the mineral resource at Cortadera – the central asset of Costa Fuego.
Initial drilling is focussed on satisfying the company’s remaining 3000-metre drill commitment with Antofagasta Minerals, and after this, drilling will be carried out to explore several porphyry targets within Hot Chili’s landholdings and to complete the required development study drilling.
The existing indicated mineral resource for Costa Fuego stands at 725 million tonnes (Mt) grading at 0.47 per cent copper equivalent for 2.8Mt of copper (Cu) and 2.6 million ounces of gold (Au).
Additionally, the existing inferred mineral resource for Costa Fuego comprises 202Mt grading 0.36 per cent copper equivalent for 0.6Mt of copper and 0.4 million ounces of gold.
Hot Chili was last trading at $1.47.