Hot Chili Unveils Promising Copper-Gold Targets in Chile
New discoveries at La Verde suggest substantial copper-gold resource potential as exploration intensifies.
Hot Chili has identified a significant porphyry copper-gold cluster in Chile, located 30 kilometers south of its planned central processing facility at Costa Fuego.
The modelling has highlighted a high-priority target situated one kilometer northeast of La Verde, coinciding with a magnetic-low feature.
Additional targets are still pending further exploration due to gravel cover in the area.
Earlier drilling results at La Verde have shown promising results, including a substantial 389-meter intersection with an average grade of 0.4 percent copper and 0.1 grams per tonne gold, starting from a depth of just four meters.
The intersection has revealed multiple higher-grade zones that extend both laterally and vertically.
The recent identification of these new targets, alongside the consolidation of a larger porphyry footprint through recent option agreements, reflects Hot Chili's strategic approach to enhancing its copper-gold resources as it develops the Costa Fuego copper hub and the Huasco Water project.
The company is set to commence first-pass testing of the new targets in September, while detailed mapping and rock chip sampling are already underway to refine the targets further.
Costa Fuego is noted for its substantial resource of 798 million tonnes, grading 0.45 percent copper equivalent, which contains approximately 2.9 million tonnes of copper, 2.6 million ounces of gold, and 12.9 million ounces of silver.
The potential of La Verde to contribute to this resource could have significant implications for the project's mine life and economic viability.
Hot Chili's exploration efforts coincide with rising global prices for copper and gold, influenced by factors such as the drive for electrification and economic uncertainties.
The company has demonstrated its exploration capabilities using advanced geophysical and geochemical tools, as evidenced by previous successes at its Productora and Cortadera sites.
This positions La Verde as a potential third significant asset in Hot Chili’s portfolio.
Comparative analyses with major porphyry discoveries, including BHP and Lundin Mining’s Filo del Sol deposit—which was valued at $4.5 billion—illustrate the considerable scale of potential finds within Chile's Atacama region, known for its rich copper production.
As Hot Chili advances toward its phase two drilling and seeks partnerships for production at Costa Fuego, the La Verde cluster may enhance the company's standing among leading copper-gold development firms on a global scale.
The modelling has highlighted a high-priority target situated one kilometer northeast of La Verde, coinciding with a magnetic-low feature.
Additional targets are still pending further exploration due to gravel cover in the area.
Earlier drilling results at La Verde have shown promising results, including a substantial 389-meter intersection with an average grade of 0.4 percent copper and 0.1 grams per tonne gold, starting from a depth of just four meters.
The intersection has revealed multiple higher-grade zones that extend both laterally and vertically.
The recent identification of these new targets, alongside the consolidation of a larger porphyry footprint through recent option agreements, reflects Hot Chili's strategic approach to enhancing its copper-gold resources as it develops the Costa Fuego copper hub and the Huasco Water project.
The company is set to commence first-pass testing of the new targets in September, while detailed mapping and rock chip sampling are already underway to refine the targets further.
Costa Fuego is noted for its substantial resource of 798 million tonnes, grading 0.45 percent copper equivalent, which contains approximately 2.9 million tonnes of copper, 2.6 million ounces of gold, and 12.9 million ounces of silver.
The potential of La Verde to contribute to this resource could have significant implications for the project's mine life and economic viability.
Hot Chili's exploration efforts coincide with rising global prices for copper and gold, influenced by factors such as the drive for electrification and economic uncertainties.
The company has demonstrated its exploration capabilities using advanced geophysical and geochemical tools, as evidenced by previous successes at its Productora and Cortadera sites.
This positions La Verde as a potential third significant asset in Hot Chili’s portfolio.
Comparative analyses with major porphyry discoveries, including BHP and Lundin Mining’s Filo del Sol deposit—which was valued at $4.5 billion—illustrate the considerable scale of potential finds within Chile's Atacama region, known for its rich copper production.
As Hot Chili advances toward its phase two drilling and seeks partnerships for production at Costa Fuego, the La Verde cluster may enhance the company's standing among leading copper-gold development firms on a global scale.
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