Hot Chili is pleased to provide a drilling update from its La Verde Cu-Au porphyry discovery (La Verde), located 30 km south of the Company’s Costa Fuego Cu-Au Project planned central processing hub in Chile’s coastal Atacama region.
A standout significant intersection of 725 m grading 0.42% CuEq1 from 18 m depth has been recorded in diamond drill hole DKD039, along with several other significant drill results across La Verde.
Drill hole DKD039 was collared on the western extent of La Verde’s discovery footprint, and intersected multiple wide zones of +0.6%CuEq1 mineralisation from near surface.
Importantly, DKD039 achieved two key objectives:
- Further extended near-surface higher-grade mineralisation by approximately 60m to the west – recording 22 m grading 0.71% CuEq1 from 42 m depth within a wider intersection of 48 m grading 0.55% CuEq (0.50% Cu, 0.03 g/t Au) from 18 m depth, located immediately beneath shallow gravel cover, and
- Confirmed a significant 200 m down-dip extension of La Verde’s high-grade core – recording 61 m grading 1.03% CuEq1 (0.90% Cu, 0.18 g/t Au, 1.81g/t Ag) from 671 m in association with high Cu/Au, A+B vein abundances >5% and massive and disseminated chalcopyrite.
Further results received from additional diamond drill holes (collared from surface) continue to confirm continuity of bulk tonnage mineralisation, including:
- DKD037 recorded 184 m grading 0.42% CuEq1 (0.32% Cu, 0.12 g/t Au) from 105 m depth
- including 27 m grading 0.60% CuEq (0.48% Cu, 0.15 g/t Au) from 203 m
- DKD038 recorded 221 m grading 0.37% CuEq1 (0.29% Cu, 0.11 g/t Au) from 48 m depth
- including 45 m grading 0.51% CuEq (0.37% Cu, 0.19 g/t Au) from 53 m
Drill hole DKD037 was designed to target a gap between two higher-grade zones, with assay results now confirming expansion and continuity of mineralisation across this zone.
Similar to drill hole DKD039, the significant intersection from DKD038 also commences immediately beneath shallow gravel cover, suggesting a large part of the potential higher-grade starter pit will only require simple, cost-effective, shallow overburden removal.
Latest assay results from diamond drill tail DKP009D also extended La Verde’s Cu-Au mineralisation footprint along the eastern flank of the discovery. The drillhole was a 200 m diamond tail to earlier RC drillhole DKP009 and reported 68 m grading 0.42% CuEq (0.33% Cu, 0.11 g/t Au) from 354 m depth extending mineralisation downhole of DKP009.
Similarly, diamond drill tail DKP012D extended La Verde’s Cu-Au mineralisation footprint along the northern flank of the discovery. The drillhole was a 284 m diamond tail to earlier RC drillhole DKP012 and reported 132 m grading 0.36% CuEq (0.26% Cu, 0.05 g/t Au) from 306 m depth extending mineralisation downhole of DKP012. Several higher-grade zones were intercepted in the tail, confirming the system is still open and mineralised to the north and will be followed up with additional drilling along the interpreted NNE-trending structural corridor.
Including the new diamond tail extensions:
- DKP009D now records 388 m grading 0.41% CuEq (0.32% Cu, 0.12 g/t Au) from 34 m
- DKP012D now records 394 m grading 0.46% CuEq (0.35% Cu, 0.11g/t Au) from 44 m
Assay results are outstanding for four diamond and seven RC drillholes and the Company looks forward to providing further updates as results are received.
“We are very pleased to deliver the most significant drill result to date from our La Verde copper-gold porphyry discovery in Chile,” Hot Chili’s Managing Director Mr. Christian Easterday commented. “Drill hole DKD039 recorded 725 m grading 0.42% CuEq from 18 m depth – the widest significant drill intersection so far at La Verde. Most importantly, it has confirmed a major 200 m down-dip extension to the high-grade core of the deposit, recording 62 m grading 1.03% CuEq from 671 m depth – also the widest high-grade intersection recorded to date.
“With two drill rigs now in operation and a third planned, the Company is focused on accelerating its definition of a potential higher-grade starter pit for Costa Fuego, as well as continued expansion and integration of La Verde’s high-grade core into Costa Fuego’s resource base and mining inventory this year.”
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