Hot Chili excites with second Cortadera high-grade core
Link copied to
Special Report: Hot Chili’s belief that Cortadera is a potential Tier 1 copper-gold project has received a major shot in the arm with the discovery of a second high-grade core.
This was uncovered by Hot Chili’s very first diamond hole at Cuerpo 2, the second largest porphyry at the project, which recorded two high grade zones of 32m grading 0.6 per cent copper and 0.3 grams per tonne (g/t) gold from a depth of 502m and 24m at 0.6 per cent copper and 0.2g/t gold from 634m.
Both these zones are associated with increasing porphyry B-vein intensity and are located within a significant intersection of 248m grading 0.4 per cent copper and 0.1g/t gold from 446m. That’s in turn located within a broader result of 613.9m at 0.3 per cent copper and 0.1g/t gold from 220m.
Hot Chili (ASX:HCH) says this result is promising as increasing porphyry B-vein abundance was key to the discovery of the high grade core within the main Cuerpo-3 porphyry in August 2019.
Further support can be found in the two historical drill holes that tested Cuerpo 2 at depth and also recorded high-grade results in association with increasing porphyry B-vein intensity.
Higher grade intervals within these historical holes included 42m grading 0.8% copper and 0.4g/t gold from a depth of 206m and 64m grading 0.6% copper and 0.1g/t gold from 360.
The company has now completed three reverse circulation pre-collar holes in preparation for deep diamond drill testing below Cuerpo 2 and the gap zone between Cuerpo 2 and Cuerpo 3 in 2021.
Hot Chili added that the diamond hole testing the southeast extension of Cuerpo 3 is now complete at 1,040m and has recorded a broad 500m intersection of porphyry mineralisation.
The hole recorded a visual estimate of 0.5 per cent to 3 per cent chalcopyrite (a key copper-bearing mineral) in association with 1 per cent to 10 per cent B-vein abundance between a depth of 500m and 1,000m.
However, the company noted that visual estimates are not an accurate representation of expected assay value and are provided for indicative purposes only.
Two new RC pre-collars have been completed at Cuerpo 3 and the company is currently drilling another diamond hole to expand the high-grade core.
At Cortadera North, clearing is underway to provide access to the remaining six planned drill holes planned across the large induced polarisation anomaly and areas of outcropping copper-bearing B-veins.
Hot Chili has already completed four RC holes across the large surface molybdenum anomaly with results expected soon.
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.