Hot Chili extends Cortadera high-grade core as attention turns towards resource estimate

Special Report: Hot Chili continues to extend the size of the high-grade core at the main Cuerpo 3 porphyry, highlighting the potential scale of the Cortadera copper-gold discovery.

While Cortadera already stands out as a one of the most significant global discoveries in 2019, Hot Chili’s (ASX:HCH) latest drill result is a clear indication that there is still scope for further growth.

The latest world-class drill result – the sixth delivered at Cortadera since July last year – recorded a 542m intersection grading 0.5 per cent copper and 0.2 grams per tonne (g/t) gold from 422m down-hole.

Importantly, this includes a higher-grade zone of 218m at 0.7 per cent copper and 0.2g/t gold with additional silver and molybdenum credits that extends the strike length of the high-grade core to over 500m, 200m in width and extending from 200m vertical depth.

And it is still open.

READ: Hot Chili’s Cortadera could be a top tier copper-gold project

Results are also expected from two deep reverse circulation pre-collars across the Cuerpo 3 North target about 500m north of the main porphyry and the next expansion diamond hole – a 250m step-out.

The reverse circulation holes intersected wide zones of skarn alteration in association with strong pyrite mineralisation above the position of a large geophysical anomaly.

Meanwhile, the diamond hole has successfully intersected the southern contact of the main porphyry and is currently at a down-hole depth of 616m within mineralised porphyry.

However, further drilling will have to wait as the company has temporarily suspended drilling operations in response to the COVID-19 coronavirus pandemic.

Hot Chili says it will use this time to accelerate its preparations towards estimating a maiden resource for the Cortadera discovery.

Once operations are resumed, the company plans to drill diamond tails to extend both reverse circulation holes at Cuerpo 3 North and complete the diamond step-out hole to a depth of 1,200m.

>> Now watch: 90 Seconds With… Christian Easterday, Hot Chili

This story was developed in collaboration with Hot Chili, a Stockhead advertiser at the time of publishing.

This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.