Major Copper-Gold Discovery Unveiled: Hot Chili's Promising La Verde Project in Chile
Major Copper-Gold Discovery Unveiled: Hot Chili's Promising La Verde Project in Chile
In a groundbreaking announcement from Hot Chili Limited, the company has confirmed a substantial copper-gold porphyry discovery at its La Verde site located in the coastal region of Chile. Recent drilling results have unveiled extraordinary intersections of mineralization, emphasizing La Verde's position as a major player in the global copper and gold market.
The latest assessments from ten Reverse Circulation (RC) drill holes revealed broad mineralization extending over 300 meters vertically, starting at shallow depths. Key highlights from the drilling results include:
- - 320 meters grading 0.3% Cu and 0.1 g/t Au from 34 meters to the end of hole (DKP009), with an impressive 134 meters at 0.4% Cu and 0.2 g/t Au from a depth of 180 meters.
- - 200 meters grading 0.4% Cu and 0.1 g/t Au from 48 meters to the end-of-hole (DKP005).
- - 172 meters grading 0.4% Cu and 0.2 g/t Au from 48 meters (DKP012), and additional significant intercepts that further establish La Verde’s potential.
These results reinforce the growing oxide and sulfide discovery at La Verde, underscoring the potential for large-scale development in the near future. The recent findings complement the promising results reported in December 2024, which included an impressive 308 meters grading 0.5% Cu and 0.3 g/t Au from 46 meters to the end-of-hole (DKP002).
Current Progress and Future Plans
The La Verde project is currently extending its exploration footprint, boasting a discovery area measuring 550 meters by 400 meters, which remains open in all directions. With eight out of twelve drill holes concluding in significant mineralization, the drilling program continues to unlock the potential of this underexplored region. The company is also planning step-out drilling to potentially double the project's footprint.
Hot Chili’s Managing Director, Christian Easterday, shared insights on this discovery: "La Verde is shaping up as Hot Chili's next major copper-gold discovery, with the potential to significantly scale our Costa Fuego project. Given the declining primary copper supply, the latest surge in copper and gold prices puts us in an advantageous position."
Furthermore, the company is nearing the completion of Pre-Feasibility Studies (PFS) for both the Costa Fuego and Huasco Water projects, bolstered by an impressive A$19 million cash reserve as of the end of December 2024.
What Lies Ahead
Ongoing exploration efforts include the anticipation of assays from seven additional drill holes, with plans for deeper diamond drilling to target high-grade mineral zones. The strategic positioning of La Verde adjacent to Hot Chili's existing Costa Fuego Copper-Gold Project enhances its significance within the broader context of copper and gold exploration in Chile's Atacama region.
Hot Chili aims to harness AI-powered exploration techniques, drawing on over 16 years of experience in the region, to expedite its growth pipeline. The company remains committed to providing regular updates as new results come in, reinforcing its proactive strategy in advancing this project.
In conclusion, La Verde stands as a beacon of opportunity for Hot Chili Limited as it charts a course in the copper-gold mining sector. With promising geological data and ongoing exploration efforts, the La Verde project is poised for a bright future, contributing to the company’s ambitious growth story in the years to come.
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