Hot Chili’s Cortadera copper discovery delivers strong copper results ahead of resource upgrade
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Hot Chili’s Cortadera porphyry discovery has returned a whopping intersection of 552m grading 0.6% copper equivalent in hole CORMET003 at the Costa Fuego Copper-Gold hub in Chile.
Importantly, this development study drilling at Cortadera continues to demonstrate growth potential following the recent Costa Fuego resource upgrade.
Other high-grade hits were also returned in CORMET003 recorded 552m grading 0.6% copper equivalent (0.4% copper, 0.2g/t gold and 89ppm molybdenum) from 276m, including 248m grading 0.8% copper equivalent (0.6% copper, 0.2g/t gold and 179ppm molybdenum) from 574m.
Hot Chili (ASX:HCH) says high-grade indicated resources, which currently stand at 156Mt grading 0.79% copper equivalent for 1Mt copper, 0.85Moz gold, 2.9Moz silver and 24,000t molybdenum will be expanded in the next resource upgrade planned for 2023.
Assay results returned for the first 11 deep reverse circulation (RC) drill holes completed at the Productora Central target have provided HCH with encouragement and further drilling is planned.
Productora Central is a 1.2km by 1km geochemical target, located along the western flank of the planned Productora open pit.
The most encouraging result was returned from drill hole PRF003, close to the Serrano fault where clay zones mask the target along strike to the northwest.
PRF003 recorded an end of hole intersection of 36m grading 0.2% copper, 0.1g/t gold, 0.5g/t silver from 290m, including 12m grading 0.4% copper 0.1g/t gold and 0.4g/t silver.
Interestingly, the hole ended in copper mineralisation and a diamond tail is planned to extend the drill hole this quarter.
The next phase of drilling will aim to penetrate the clay zone which is masking an area of elevated molybdenum along the Serrano fault.
Additionally, clearing activities are well advanced across Valentina, San Antonio and Santiago Z.
Drilling is planned to commence at Valentina and then San Antonio in the coming weeks, and Santiago Z in the coming month.
Further development study drill results from Cortadera are expected in the coming weeks.
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.