Latest results from ongoing drilling across Hot Chili’s (ASX: HCH) La Verde copper-gold discovery in Chile’s Atacama region have confirmed a major extension to the deposit’s high-grade core.
The company recorded a standout drill result from one of the holes of 62 metres at 1.03% copper equivalent (CuEq) within 725m at 0.42% from 18m depth, extending the core by approximately 200m down-dip.
The hole was collared on the western extent of La Verde’s discovery footprint and intersected multiple wide zones grading more than 0.6% CuEq from near surface.
Other assays highlighting the continuity of bulk tonnage mineralisation were 184m at 0.42% CuEq (0.32% copper and 0.12 grams per tonne gold) from 105m including 27m at 0.60% CuEq (0.48% copper and 0.15g/t gold) from 203m, and 221m at 0.37% CuEq (0.29% copper and 0.11g/t gold) from 48m including 45m at 0.51% CuEq (0.37% copper and 0.19g/t gold) from 53m.
Continuity of Mineralisation
A second hole targeted a gap between two higher-grade zones, with assays confirming the expansion and continuity of mineralisation across this area.
An intersection from a third hole commenced immediately beneath shallow gravel cover to suggest a large part of the potential higher-grade starter pit would require simple and cost-effective shallow overburden removal.
A 200m diamond drill tail to an earlier reverse circulation hole extended La Verde’s mineralisation footprint along the eastern flank of the discovery, reporting a best result of 68m at 0.42% CuEq (0.33% copper and 0.11g/t gold) from 354m depth.
A second diamond drill tail extended the footprint along the northern flank and returned a best assay of 132m at 0.36% CuEq (0.26% copper and 0.05g/t gold) from 306m depth.
Several higher-grade zones intercepted in the tail confirmed the system is open and mineralised to the north, with the company planning to follow up with additional drilling along the interpreted north-northeast-trending structural corridor.
‘Major Down-dip Extension’
Managing director Christian Easterday said the company was pleased to have delivered some of the most significant drill results to date from La Verde, which sits 30 kilometres south of the flagship Costa Fuego project.
“Drill hole DKD039 recorded the widest drill intersection so far at La Verde and confirmed a major 200m down-dip extension to the high-grade core of the deposit,” he said.
Hot Chili is accelerating the La Verde drilling campaign with two rigs currently on site and a third expected to be added next month.
“We are focused on accelerating the definition of a potential higher-grade starter pit for Costa Fuego, as well as continued expansion and integration of La Verde’s high-grade core into Costa Fuego’s resource base and mining inventory this year.”
