Drilling at Hot Chili’s Cortadera discovery in Chile has yielded yet another extension to the northern flank of the main Cuerpo 3 porphyry deposit.

The latest hole CRP0134D returned another of the hallmark wide intersections that define Cuerpo 3 with a 610m zone grading 0.5% copper equivalent (0.4% copper and 0.1 grams per tonne gold) intersected from a depth of 216m down-hole.

This included a higher grade section of 138m at 0.8% CuEq (0.6% copper and 0.1g/t gold) from 634m.

Notably for Hot Chili (ASX:HCH), this intersection was recorded at about the same vertical depth and lateral to CRP0124D, which recorded 82m at 1.0% CuEq within a broader intersection of 362m at 0.6% CuEq from 634m depth.

Resource development manager Kirsty Sheerin said the expansion of the main porphyry was very pleasing ahead of the company’s plans to upgrade the maiden 451Mt Cortadera resource.

“The North Flank of the high grade core to the main porphyry has continued to be a significant resource addition,” she noted.

“We have added approximately 170m of width to Cuerpo 3 and hope to extend several other open flanks to the high grade core by year-end. We are also continuing to see positive shallow intersections in the current RC drilling program at Cuerpo 2.

“The next resource upgrade at Cortadera will provide a strong basis for the first combined open pit and block cave mining reserve estimate at our growing Costa Fuego copper-gold development.”

The North Flank of Cuerpo-3 remains open with another 80m step-out diamond drill hole currently at a depth of 490m and in mineralisation.

Other drilling

Results are pending for five drill holes at Cuerpo 2 that have visually recorded wide intersections of oxide and sulphide mineralisation from surface.

Additionally, CRP0139 was drilled in an updip position over the Cuerpo 2 resource and has recorded a 42m intersection grading 0.5% CuEq (0.4% copper and 0.3g/t gold) from 180m within a broader 222m zone grading 0.3% CuEq (0.2% copper and 0.1g/t gold) from surface.

Hot Chili is currently operating five shifts of drilling per day with three rigs at Cortadera and is sourcing a fourth rig to start drill testing several large-scale growth targets at the Productora Central and Santiago Z targets.




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.