Hot Chili Limited

Quarterly Report Period Ending 31st December 2022

Hot Chili Limited (ASX: HCH) (TSXV:HCH) (OTCQX: HHLKF) ("Hot Chili" or the "Company") provides its activities report for the quarter ended 31 December 2022.


Highlights

  • Consolidation Efforts Secure Major Extensions to Cortadera
  • Access Granted by Chilean Naval Authority to Maritime Concession Land for Costa Fuego Appointment of New Canadian Director Stephen Quin
  • Final 2022 Metallurgical Drill Results Confirm Robust Resource Estimate for Productora
    • MET026 - 80m1 grading 0.7% CuEq* (0.6% Cu, 0.2g/t Au) from 101m downhole including 23m grading 1.0% CuEq (0.9% Cu, 0.2g/t Au) from 101m
    • MET028 - 277m2 grading 0.5% CuEq (0.4% Cu, 0.1g/t Au) from 49m downhole including 46m grading 1.1% CuEq (1.0% Cu, 0.2g/t Au) from 280m
  • Next Growth Phase Begins with Drilling Underway, Strong Cash Balance of A$10.8 M
SUMMARY OF OPERATIONAL ACTIVITIES

Consolidation Efforts Secure Major Extension to Cortadera

During the quarter, Hot Chili announced the details of successful consolidation efforts to secure additional mining rights covering the western extensions to the Cortadera copper-gold porphyry resource, the centre- piece of the Company’s Costa Fuego senior copper development in Chile.

On 25th November, the Company announced the execution of an Option Agreement with Chilean copper major Antofagasta Minerals S.A. (AMSA) enabling Hot Chili to acquire a 100% interest in AMSA’s mining rights adjoining the western margin of Cortadera.

Three days later, Hot Chili confirmed further consolidation after successfully securing several new prospective mining rights at a government-run, public auction for the Huasco region of Chile. The new mining rights are located alongside mining rights subject to the AMSA Option Agreement.

Together, these new landholdings consolidate the western extension of Cortadera, more than double the prospective strike length from 2.7km to 5.2km and allow Hot Chili to test a potentially much larger copper porphyry cluster.

Click here for the full ASX Release

This article includes content from Hot Chili Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

HCH:AU
The Conversation (0)
Hot Chili Limited

Hot Chili Limited

Low-Altitude Sizeable Copper Development in South America

Stack of Australian US$100 banknotes in closeup.

BHP to Invest Over AU$840 Million in Olympic Dam Operation as Copper Demand Grows

Major miner BHP (ASX:BHP,NYSE:BHP,LSE:BHP) welcomed October with the news that it will invest over AU$840 million in its Olympic Dam copper operation in South Australia.In an October 1 release, the commodities giant said that the funding is for a series of “growth-enabling projects” at the site,... Keep Reading...
US flag and stock chart overlayed with Benjamin Franklin image.

Trilogy Metals Shares Rocket as US Government Takes Stake in Alaska Project

The US government is making a rare direct investment in a Canadian mining company, taking a 10 percent stake in Vancouver-based Trilogy Metals (TSX:TMQ,ARCA:TMQ) as part of a US$35.6 million deal to accelerate the development of Alaska’s Upper Kobuk Mineral Projects (UKMP)In an announcement... Keep Reading...
​African Discovery Group (OTC:AFDG)

AFDG - Embracing US strategy, acquisition of Butembo copper deposit in the DRC. Copper added to draft list of US strategic minerals

African Discovery Group (OTC:AFDG) ("AFDG" or the "Company") has signed a term sheet to acquire the Butembo Copper exploration license in the Democratic Republic of Congo (DRC) by acquiring 100% of the shares of SOCIETE GRABIN MINING SAS (the "Transaction"). With this proposed acquisition, AFDG... Keep Reading...
ACG Metals

ACG Amends Terms of Gediktepe Royalty Agreement to Support Transition from Gold to Copper Production

ACG announces that the net smelter return royalty agreement dated 17 July 2019 (the "Royalty Agreement") originally entered into between Lidya Madencilik Sanayi ve Ticaret A.Ş. (which assigned its interest to ACG Holdco 1 Limited), Polimetal Madencilik Sanayi ve Ticaret A.Ş. ("Polimetal") and... Keep Reading...

Latest Press Releases

Related News