Hot Chili expands known copper at Cortadera discovery with huge 836m-wide intercept

Hot Chili ASX HCH Cortadera intercept copper gold porphyry discovery Chile
Hot Chili is expecting assays from a further 9,000m of drilling at Cortadera.

Copper explorer Hot Chili (ASX: HCH) has grown the mineralised footprint by 80m at its Cortadera discovery in Chile after unearthing a huge 836m intercept.

Step-out diamond drilling at the discovery uncovered 836m at 0.4 copper and 0.1 grams per tonne gold (0.5% copper equivalent) from 536m and ending in mineralisation.

Within this was a higher-grade interval of 436m at 0.5% copper and 0.2g/t gold (0.6% copper equivalent) from 536m.

The hole has also expanded the maiden resource envelope of the main Cuerpo 3 target porphyry by 80m.

Another hole has confirmed the two largest porphyries Cuerpo 2 and Cuerpo 3 at Cortadera connect at depth.

Growing the maiden resource

Hot Chili debuted the maiden resource for Cortadera in October last year, which totals 451 million tonnes at 0.46% copper equivalent for 1.7Mt of contained copper, 1.9Moz gold, 9.9Moz silver and 27,000t molybdenum.

Within the resource is a higher-grade core of 104Mt at 0.74% copper equivalent.

This latest 836m copper intersection was part of Hot Chili’s 40,000m drill program at Cortadera which has focused on growing the high-grade core of Cuerpo 3.

Hot Chili noted results to-date have expanded the high-grade core “predictably”, while proving the “robust” resource.

With this latest discovery, Hot Chili has all three rigs operating at Cortadera focused on the extensional phase of the 40,000m program to test areas outside of the maiden resource, particularly Cuerpo 1 and Cuerpo 3.

Meanwhile, a third phase of first pass drilling is scheduled to begin at Cortadera North “in the coming weeks”.

Hot Chili is anticipating strong news flow with results from 9,000m of drilling across Cortadera and Cortadera North pending.

Close to infrastructure

Located about 600km north of Santiago, Cortadera is part of the Costa Fuego project, which is close to requisite infrastructure, including a seawater pipeline and power.

The discovery is also near to the Pan American highway, power substation and the Las Losas port.

Global resources for Costa Fuego total 724Mt at 0.48% copper equivalent for 2.9Mt of copper and 2.7Moz of gold, 9.86Moz silver and 63,700t of molybdenum.

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