Hot Chili confirms a second large copper porphyry system
Evidence is building that Hot Chili’s (ASX:HCH) Cortadera discovery is part of a larger regional copper porphyry ‘cluster’.
New soil results and mapping have confirmed a second large copper porphyry footprint measuring over 4km in length and 2km in width at the recently acquired ‘Santiago Z’ landholding, immediately south of Cortadera.
Soil testing confirmed a strong molybdenum (+10ppm) anomaly at Santiago Z, which is also enriched in copper, gold and silver — Cortadera’s metal signature.
Similar aged porphyries (91- 96Ma) to Cortadera have also been identified in detailed historical mapping at Santiago Z.
A review of historical geophysical datasets across Santiago Z is underway, and Hot Chili is planning a program of extensional soil geochemistry and detailed mapping as its next steps in advance of first pass drilling later this year.
Hot Chili’s 40,000m drill program at Cortadera is well-advanced, with three drill rigs in operation.
The explorer is on track to deliver a significant upgrade to its combined Costa Fuego copper-gold resource (724Mt grading 0.48% Cu Eq for 2.9Mt copper, 2.7Moz gold, 9.9Moz silver and 64kt molybdenum) this year.
Results are imminent for hole CRP0046D which intersected two wide zones of well mineralised porphyry within a broad zone of mineralisation at Cortadera.
An update on drilling activities and new drill results is expected to be released next week, the company says.
This article was developed in collaboration with Hot Chili, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.