#Chile #Hot Chili #La Verde #Copper Gold #Coastal Range

Continued Advances at La Verde Copper-Gold Porphyry Discovery in Chile

Drilling operations at the La Verde site, a promising porphyry discovery situated on the coastal region of Chile, are yielding remarkable results that enhance our understanding of the area's mineralization. These findings are crucial as the company gears up for its inaugural Mineral Resource Estimate (MRE).

The recent drilling efforts have defined significant intersections, revealing an extensive, well-defined mineral resource characterized by elevated grades of copper and gold. This progression aligns with Hot Chili Limited's goal to fully integrate La Verde into its Costa Fuego copper-gold project, which already exists within Chile's coastal mountain range, known for its relatively low elevation.


Location of La Verde in relation to Costa Fuego, coastal range Chile

The outcomes from various drill holes have offered insights into the high-grade mineralization near the surface. Prominent drill results include:

• - DKP075: 188 meters grading 0.56% CuEq (0.44% Cu, 0.16 g/t Au)
• - DKP067: 112 meters grading 0.47% CuEq (0.40% Cu, 0.10 g/t Au)
• - DKP078: 240 meters grading 0.43% CuEq (0.30% Cu, 0.17 g/t Au)

These drill intersections not only highlight the depth and grade of the mineralization but additionally reinforce the continuity of copper-gold deposits within the area. The data obtained will contribute significantly to the updated Pre-Feasibility Study (PFS) for Costa Fuego, enhancing the future mining potential of the project.


Long-section slice (A – A’) showing recent drill hole results and updated +0.2% copper mineralisation interpolants.

Geological Context and Future Endeavors

Following the completion of over 35,000 meters of Reverse Circulation (RC) drilling, the ongoing trials at La Verde have confirmed a robust geological framework, paving the way for the imminent MRE. The high-grade mineralization that has been defined so far is projected to support future low-strip-ratio open pit mining operations, particularly in the early stages of the Costa Fuego project’s 20-year mine plan.

The drill hole DKP075 exemplifies this progress—initially reported as 132 meters grading 0.57% CuEq, the intersection has now been extended to 188 meters, enhancing the depth of this high-grade zone significantly. Furthermore, drill hole DKP078, collared within La Verde's high-grade core, has revealed substantial results, underpinning the effectiveness of the drilling strategy.

Moreover, from the latest drilling campaigns, the results from DKP067 have expanded the understanding of the lateral extent of mineralization in La Verde's eastern flank. These results will serve to validate and potentially enhance the interpretations of the geological model currently in place.

Economic Potential and Environmental Considerations

The integration of La Verde's findings into the Costa Fuego PFS is expected to have material implications for the project's economic viability. This information will also support the formal submission of the Environmental Impact Assessment (EIA) in the second quarter of 2027, signaling the company's commitment to sustainable mining practices.

Hot Chili Limited is steadfast in its exploration objectives and is focused on translating these successful drill results into value for shareholders. The promising intersections found at La Verde signify not only the project's potential to contribute to Chile's mining sector but also a pivotal step toward broader economic benefits through responsible resource extraction.

For the detailed results of the recent drilling and ongoing updates, stakeholders are encouraged to monitor the company’s announcements.

For additional information, visit Hot Chili's website.

Contact Information

Christian Easterday
Managing Director & CEO
Hot Chili Limited
Email: [email protected]

Carol Marinkovich
Company Secretary
Hot Chili Limited
Email: [email protected]

Conclusion

The ongoing drilling at La Verde is reshaping the potential for the Costa Fuego project, revealing significant mineralization that underscores the site’s promise as a cornerstone in Hot Chili's portfolio. As drilling progresses, the anticipation for enhanced resource evaluations and economic feasibility develops, emphasizing both the opportunities and responsibilities tied to mining in one's region.