Hot Chili grows La Verde discovery with strong new RC drilling results
Hot Chili (ASX: HCH) has further confirmed the potential of its La Verde copper-gold discovery with positive new reverse circulation (RC) drilling results.
Located just 30 kilometres south of the company’s Costa Fuego copper-gold project and planned central processing hub, La Verde continues to provide large-scale appeal.
Assays from 12 of the 19 RC holes (for 5,700 metres) drilled so far at La Verde have added to the strong results reported in December 2024.
Major copper-gold discovery
Managing director Christian Easterday said La Verde is shaping up as Hot Chili’s next major copper-gold discovery, with the potential to significantly lift the scale of the Costa Fuego project.
“With primary copper supply declining, copper and gold prices rallying and a pre-feasibility study on each of our planned businesses (copper-gold and water) nearing completion, momentum is building fast,” Mr Easterday said.
“Following in the footsteps of our successes at Cortadera and Productora, we’ve secured full control of La Verde after years of strategic consolidation, finally allowing us unrestricted access to test this historically overlooked porphyry system.”
Exceeding expectations
Mr Easterday said drill results had exceeded expectations, revealing a much larger porphyry system than first recognised.
“This discovery has all the signs of becoming our third bulk-tonnage copper-gold deposit and is open in all directions and growing fast,” he said.
“We’re also preparing to deploy AI-powered exploration to fast-track our nearby exploration growth pipeline, leveraging 16 years of expertise in Chile.”
The new assay results have identified that La Verde has wide, shallow mineralisation, with the current discovery footprint extending to 550m by 400m while remaining open in all directions.
Deeper untapped potential
Hot Chili believes there is also deeper potential at the project that remains untapped and is planning to follow up the RC success with diamond drilling targeting deeper, higher-grade zones.
It is looking to test for the vertical depth extent of greater than 1km common to other recent major porphyry discoveries in the region.
The company is now awaiting results from seven additional RC holes, with geological logging confirming the presence of porphyry host rock featuring A- and B-type veining in each.