Significant Advances in High-Grade Copper-Gold Discovery at La Verde Project

Hot Chili Limited has reported promising developments at its La Verde copper-gold project, located in the Atacama region of Chile, about 30 kilometers south of the Costa Fuego mining site. Recent drilling efforts have confirmed a significant expansion of high-grade copper and gold mineralization, which could greatly enhance the project's economic viability.

The results are derived from the company's Phase Two drilling campaign, notably through diamond drillholes, which have provided positive indications of mineral-rich cores near the surface. For instance, diamond drillhole DKP005D, an extension of a previous reverse circulation drillhole, revealed new intersections that averaged 0.38% copper and 0.1 grams gold per ton over a depth of 317 meters. This development outlines a potential up-dip expansion of the La Verde's high-grade mineralization.

Recent Drilling Successes

The latest drilling results have reported wide intersections indicative of strong copper porphyry-style mineralization across various drillholes. The drillhole DKD035 encountered a substantial mineral zone extending from the surface to a depth of 278.5 meters, affirming the existence and continuity of mineralization within the La Verde project. Notably, another drillhole, DKD032, previously recorded 529 meters of mineralization averaging 0.41% copper and 0.21 grams gold per ton from a depth of 41 meters, showcasing the project's promising mineral potential.

Hot Chili’s Managing Director, Christian Easterday, remarked on the significance of these findings, stating, “The convergence of mineralization into a single higher-grade core at La Verde, extending from near-surface, is a material development for Hot Chili.” He pointed out that the addition of a higher-grade starter pit could bolster the overall 20-year mine plan of Costa Fuego, establishing it as a competitor within the established copper mining regions of Chile.

Economic Implications and Future Outlook

Positioned at lower elevations with easy access to high-grade mineral resources, La Verde is set to play a crucial role in the company’s strategy to maximize the economic potential of the Costa Fuego project. Combined with secured water supply rights and reduced capital intensity, these factors mitigate many challenges typical of high-altitude mining operations. As a result, La Verde is increasingly seen as a low-risk project that stands in stark contrast to high-capital, high-risk operations found in the nearby high Andes regions.

As Hot Chili continues to progress with its drilling program at La Verde, further assay results are anticipated. With continuous positive data emerging from the site, stakeholders remain optimistic about the future of the Costa Fuego project, which has the potential to reshape the local mining landscape significantly.

The company’s commitment to exploring and developing the La Verde project aligns with global trends favoring increased copper and gold production, essential for the transitioning energy economies. As data is finalized, Hot Chili is expected to release additional updates showcasing the project's growth and advancement.

For more information, potential investors and interested parties can visit Hot Chili's official website at www.hotchili.net.au. These ongoing developments underscore Hot Chili's actionable strategy and solid groundwork for future success in the copper-gold market of Chile.