New Results Boost Growth for Costa Fuego

Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) (“Hot Chili” or “Company”) is pleased to announce further strong results from drilling across the Company’s Costa Fuego coastal range copper-gold project in Chile.

• New drill results deliver higher than expected copper grades from previously unsampled intervals of diamond core at Productora and Alice, part of the Cost Fuego senior copper development in Chile:
  • 244m grading 0.8% CuEq (0.7% copper (Cu) & 0.2g/t gold (Au)) from 23m depth

including 71m grading 1.0% CuEq* (0.8% Cu, 0.2g/t Au) at Productora

• 152m grading 0.6% CuEq (0.6% Cu & 0.1g/t Au) from 42m depth

including 39m grading 1.1% CuEq* (1.0% Cu, 0.1g/t Au)

and 23m grading 0.9%CuEq (0.8% Cu) from 226m to end of hole at Alice

• Final drill results from Valentina confirm further high grade intersections ahead of planned expansion drilling, application for regulatory approval submitted:
  • 6m grading 1.3% Cu from 10m depth downhole
• Interesting silver assays returned from first-ever drilling at Santiago Z, follow-up programme being planned to test remaining sixty-five percent of the target area:
• Drill results pending and Pre-feasibility update expected shortly

Assays from metallurgical testwork diamond drillholes have continued to exceed expectations, with near- surface, high grade intersections returned at the Productora and Alice porphyry deposits.

This is in addition to two new significant intersections at the Valentina high-grade satellite, which represents a potential front-end, open pit ore source for the combined Costa Fuego coastal copper super-hub.

First-ever drill results from the large-scale Santiago Z porphyry target have returned several wide silver and molybdenum intersections from shallow depths, however no significant copper-gold intersections were encountered. The results of this programme are being reviewed and a follow-up programme is being planned. Only thirty five percent of the target area at Santiago Z has been drill tested.

Further drill results are expected in the coming weeks and the Company looks forward to providing an update on resource upgrade and Pre-feasibility Study (PFS) work streams shortly.

Click here for the full ASX Release

This article includes content from Hot Chili 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.