Hot Chili (ASX: HCH) has confirmed shallow, high-grade porphyry-style copper mineralisation at its La Verde discovery in Chile.
Results from two new diamond drill holes have visually recorded wide intersections from near-surface, highlighting the potential for a significant up-dip expansion to La Verde’s gold-rich core.
Hot Chili began the Phase 2 program in late September 2025, with the intention of extending the discovery’s initial copper footprint of 1,000 metres in length by 750m width by 400m depth, while also extending the gold distribution identified during Phase 1.
La Verde is located just 30 kilometres south of the company's Costa Fuego copper-gold project, its proposed central processing hub in Chile’s coastal Atacama region.
Diamond Tail Extension
A 200m diamond tail extension of an earlier reverse circulation (RC) drill hole, extended higher-grade copper-gold mineralisation along the eastern flank of the discovery by approximately 60m.
This extension recorded an additional 47m at 0.57% copper and 0.12g/t gold from 247.5m, and 28 m at 0.49% copper and 0.15g/t gold from 316m.
The company has now completed 2,900m of drilling, and is awaiting assays pending for six further diamond holes.
Taking the new diamond tail into account, this hole now shows a total of 317m grading 0.38% copper and 0.1g/t gold from 32m to 349m, including the 22m non-mineralised dyke that previously recorded 200m at 0.4% copper and 0.1g/t gold from 48m to end-of-hole.
Starter-Pit Momentum
Managing director Christian Easterday said the La Verde success has added momentum to the company's Costa Fuego starter-pit strategy.
“The convergence of mineralisation into a single higher-grade core at La Verde extending from near surface is a material development for Hot Chili," Mr Easterday said.
"Addition of a higher-grade starter pit would significantly strengthen the front-end of Costa Fuego’s 20-year mine schedule and be a game changer for scale and economics."
Mr Easterday sees Costa Fuego rapidly shaping as a low-risk contender to adjacent copper developments in the Huasco Region and Vicuña District.
“Low elevation, access to near-surface higher-grades, secured rights for non-continental water supply, and low capital-intensity remove many of the significant challenges facing our high Andean neighbours,” he added.
