- Hot Chili (HCH) has received assays from drilling at the Cortadera discovery, part of the Costa Fuego Copper Project in Chile
- Latest results come from the Cuerpo three porphyry zone and have confirmed more wide zones of moderately high-grade gold and copper
- The miner began drilling after completing a maiden resource for the Cortadera discovery in October last year
- While this contributed significantly to the broader Costa Fuego resource, Hot Chili aims to expand this further to transition it to a tier-one copper resource
- Company shares are down 4.35 per cent and are trading at 4.4 cents
Hot Chili (HCH) says it's on track to deliver an upgrade to its Costa Fuego copper-gold resource in Chile.
Currently, Costa Fuego's combined resource sits at 724 million tonnes at 0.48 per cent copper equivalent for 2.9 million tonnes of copper, 2.7 million ounces of gold, 9.9 million ounces of silver and 64,000 tonnes of molybdenum.
But Hot Chili hopes to expand the copper portion of the project to over five million tonnes to transition to a tier-one copper resource.
Within the Costa Fuego Project lies the well-known Cortadera discovery which celebrated a maiden resource estimate in October last year.
Since then, the Chilean explorer has been undertaking extensional drilling to expand the resource further. So far, drilling has yielded pleasing results.
Latest results from one hole drilled at the Cuerpo three porphyry returned two significant intersections. These include 114 metres at 0.5 per cent copper and 0.2g/t gold from 248 metres and 185 metres at 0.5 per cent copper and 0.2g/t gold from 568 metres.
Interestingly, these higher grade intersections were found in areas that were previously thought to be low grade.
Since the 451-million-tonne maiden resource was announced, eight significant diamond drill intersections have been achieved.
Results from a further two holes are pending and drilling is continuing at the Cuerpo one and Cuerpo three porphyry zones.
https://themarketherald.com.au/hot-chili-asxhch-eyes-resource-expansion-at-costa-fuego-2021-04-16/
