Hot Chili confirms a significant copper-gold discovery, located approximately 30km south of the Company's Costa Fuego Copper-Gold Project'splanned central processing hub in the coastal range of the Atacama region, Chile.
Assay results for the first two drill holes of a 4,000m drill programme being undertaken across the recently secured La Verde porphyry copper-gold target have returned a wide drilling intersection of 202m grading 0.6% Cu, 0.3g/t Au from 70m depth within a broader intersection of 308m grading 0.5% Cu and 0.3g/t Au from 46m depth to end of hole.
La Verde is part of Hot Chili's recent consolidation of the Domeyko landholding where the Company earlier executed the La Verde Option Agreement (see announcement dated 11th November 2024), which for the first time consolidated and provided access to drill test a large potential porphyry copper target footprint.
The historical La Verde open pit mine was previously exploited by private interests for shallow porphyry copper-style oxide mineralisation with limited drill testing outside the central lease or to depth.
A total of twelve RC drill holes for approximately 3,150m are complete with results returned for the first two Reverse Circulation (RC) holes of the first-pass drill programme. The first two drill holes (DKP001 and DKP002) were designed to (1) validate historic drilling intercepts, and (2) test the interpreted northern extension of the porphyry from the previously exploited open pit, respectively.