#Chile #Hot Chili #La Verde #Atacama #copper-gold

Hot Chili Announces Successful Drilling at La Verde

In an exciting update from the mining sector, Hot Chili Limited has announced significant findings from its ongoing drilling campaign at the La Verde copper-gold project in Chile. The latest results indicate a dramatic expansion of the porphyry discovery footprint, now measuring over 1 km in length and up to 750 m in width. The recent phase-one Reverse Circulation (RC) drilling has confirmed multiple higher-grade mineralization centers, which are critical for ensuring the project's profitability and overall success.

Recent Drill Results

The results disclosed on May 20, 2025, reveal a series of high-quality assay findings from various drill holes, showing promising grades of copper and gold. Among the highlights, drill hole DKP030 delivered an impressive intersection of 389 m grading 0.4% copper and 0.1 g/t gold from a depth of 4 m to the end of the hole. Other significant discoveries include:
- DKP028: 120 m grading 0.4% copper and 0.1 g/t gold from 6 m depth, including 48 m at 0.5% copper from 26 m.
- DKP027: 286 m grading 0.3% copper from 4 m depth, with a substantial 154 m at 0.4% copper from 44 m.
- DKP024 & DKP013: Both showcasing open-ended mineralization, underscoring the potential for substantial resource recovery.

The repeatability of these high-grade intercepts across multiple drill holes highlights the viability and growth of the La Verde mineral resource. As more results flood in, the scope for a profitable mining operation at La Verde appears increasingly likely.

Expanding Exploration

Hot Chili has successfully completed a phase-one drilling program comprising 31 drill holes, amounting to 9,600 meters of exploration. This extensive drilling has expanded the original discovery footprint significantly, doubling its extent to an approximate 1,000 m by 750 m area, descending around 400 m deep. Furthermore, the assay results confirmed the presence of distinct higher-grade centers within this footprint, amplifying the project's potential for future mining endeavors.

Three distinct higher-grade centers were identified:
1. North-East Center: Approximately 180 m to the northeast of a historical open pit, showing significant mineralization that remains open for future drilling.
2. South-East Center: 70 m southeast of the original open pit, with a rich mixture of drilling results contributing to high-grade copper-gold zones that also show promise for expansion.
3. South-West Center: At a distance of 310 m from the pit, the center shows substantial dimensions and remains open.

Given that over half of Hot Chili's drill holes reached the limits of RC drilling capabilities without encountering significant mineralization, the company is considering deeper diamond drilling in the next exploration phase to continue expanding these centers into promising territory.

Future Plans and Significance

The regulatory process for phase-two drilling access is currently underway, with deeper explorations anticipated to begin shortly after receiving necessary approvals. These advancements bode well for the company as it aims to enrich the resource base of the La Verde project further.

Furthermore, with Hot Chili's proximity to its Costa Fuego copper-gold project, the La Verde site might play a pivotal role in the company’s future development, contributing to a long-term mine life in the Costa Fuego copper-gold hub.

This discovery marks a significant milestone for Hot Chili as it endeavors to solidify its place in the mining industry while ensuring environmentally responsible practices and economic vitality in the Atacama region.