Hot Chili’s latest hit bodes well for big Cortadera resource upgrade
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Hot Chili’s upcoming resource update is likely to be one for the ages after drilling extended the high-grade core at the Cortadera project in Chile.
It is hard to argue with a 318m intercept grading 0.6 per cent copper and 0.2 grams per tonne (g/t) gold from a depth of 440m, which indicates the high-grade core at the main Cuerpo 3 porphyry is growing rapidly and predictably.
This is contained within an extensive 813m intercept grading 0.4 per cent copper and 0.1g/t gold from a depth of 54m to the end of hole – one of the widest drilled to date at Cortadera and the seventh world-class drill result from the project to date.
All this despite the CRP0061D hole having to be abandoned early in mineralised porphyry at a depth of 863m, far short of the planned 1,500m depth due to mechanical issues.
Hot Chili’s (ASX:HCH) Cortadera project currently has a resource of 451Mt grading 0.46 per cent copper equivalent while the high grade zone that is the focus of the current 40,000m drill program has a resource of 104Mt at 0.74 per cent copper equivalent.
With the ongoing drill successes, this is likely to grow further.
The company is currently awaiting results from CRP0046D which intersected two wide zones of well mineralised porphyry within a broad zone of mineralisation at Cuerpo 3.
An update on diamond drilling at Cortadera – where two rigs are currently operating – and reverse circulation drilling at Cortadera North is expected shortly.
Additionally, assay results from a large soil geochemical program that it completed across the newly consolidated Santiago Z project about 5km to the south are also expected shortly.
Santiago Z contains a historical soil molybdenum anomaly that is about twice as large and four times the tenor of the soil molybdenum anomaly related to the Cortadera.
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.