- 01Hot Chili finds a second porphyry centre south of La Verde.
- 02Drilling returned 148m at 0.44% CuEq.
- 03A maiden resource estimate is planned later this year.
Hot Chili (ASX: HCH) has discovered a second porphyry centre at its La Verde copper-gold deposit, located 30 kilometres south of a planned central processing hub for the company’s Costa Fuego project in Chile’s coastal Atacama region.
Step-out drilling using two rigs has reportedly unlocked significant growth potential, with near-surface higher-grade copper mineralisation immediately south of, and along strike from, La Verde.
The first reverse circulation hole, located 250 metres to the south of the deposit’s +0.4% copper mineralisation footprint, delivered 148m at 0.44% copper equivalent (0.39% copper and 0.07 grams per tonne gold) from 36m including 44m at 0.56% CuEq (0.5% copper and 0.06g/t gold) from 138m.
It sought to follow-up and test for extensions south of a RC hole drilled in May 2025 that recorded 114m at 0.4% CuEq (0.4% copper) from 86m, including 52m grading 0.5% CuEq (0.5% copper and 0.1g/t gold) from 96m.
Diamond Drilling Observations
Building on these initial results, Hot Chili mobilised a diamond drill rig to test the potential for higher-grade copper porphyry-style sulphide mineralisation below the wide zone of oxide mineralisation.
The company visually recorded a 307m interval of strong copper porphyry-style mineralisation (associated with copper clays, malachite and black copper oxide mineralogy) in the first diamond hole, collared 100m to the south of the first RC hole.
Another wide zone of strong porphyry-style sulphide mineralisation (associated with disseminated chalcopyrite and porphyry-style A, B, and C veining) was also encountered below this oxide zone, between 172m and 347m current depth, with drilling continuing to a planned depth of 500m.
Hot Chili will also test La Verde South alongside infill drilling at La Verde before completion of a maiden mineral resource estimate later this year that will allow potential higher-grade near-surface open-pit feed from La Verde to be evaluated for inclusion in the Costa Fuego mine plan.
Costa Fuego Growth Plans
Managing director Christian Easterday said the initial step-out results provided another boost to the company’s growth plans for Costa Fuego.
“We are very pleased with the results from our first step-out drilling campaign to the south of La Verde, which confirmed a second porphyry centre concealed beneath shallow Atacama gravels with potential to be of similar scale to La Verde,” he said.
“Costa Fuego is already one of the top five independent copper developments by scale—the upcoming addition of a maiden MRE, and now confirmation of a much larger discovery than first recognised, is a game changer for our company.”
The MRE, along with a revised Costa Fuego pre-feasibility study and preparation of an environmental impact assessment submission, remain on track for completion in the new year.
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