On-track to become next major ASX-listed copper producer
Hot Chili (ASX: HCH) is well on track to become the next major ASX-listed copper producer, with the Pre-feasibility study on its Productora copper project in Chile completed in March 2016.
Hot Chili owns the rapidly growing Productora Copper Project in Chile, where resources already stand at 1.47 million tonnes of copper and 0.98 million ounces of gold.
A reserve of 166.9Mt has been established which underpins long life, bulk open pit production, over a 10-year mine life, with the first 8 years production averaging 66kt copper and 25koz gold annually.
A cutting-edge IP/ MT geophysical survey was conducted at the Productora project in mid-2015, with the results revealing five large copper porphyry targets, comprising four additional large copper porphyry targets, and extensions to the previously discovered Alice copper porphyry deposit.
The Company believes the copper porphyry targets could be game changing for Productora with the potential to transform the project. This in turn would also provide further scale and mine life, substantially enhancing the projects economics.