On-track to become next major ASX-listed copper producer
Hot Chili (ASX : HCH) is one of the top ASX listed copper developers with an advanced Chilean coastal range portfolio and a resource base of 1.5Mt copper and 1Moz gold already established.
The Company has implemented an expanded growth strategy which aims to transform Productora by increasing margins and lowering production costs through higher head grade and expanded metal output.
In the past 6 months Hot Chili has executed agreements to secure majority interest in three of the regions’ (surrounding Productora) highest grade and most substantial underground mines- collectively named El Fuego (San Antonio, Valentina and Lulu).
The addition of Hot Chili’s consolidated El Fuego high grade copper project enables the Company to achieve its expanded growth strategy, unlocking both scale and grade.
Recent surface exploration results, lease mining and historical mine data compilation has been extremely successful in outlining several large high-grade copper targets, with San Antonio highlighted as a standout mine with great potential.
A 30m wide Main Lode grading +2% copper has recently been confirmed to continue below San Antonio remaining open and untested below 90m depth, with multiple parallel lodes also confirmed within the mine area.
The San Antonio deposit footprint extends from surface over a 1.5km strike extent, with the Company excited to be commencing its first phase of drilling at San Antonio and other high-grade targets in early June.
The Company is also pursuing further value accretive regional consolidation opportunities as part of its expanded growth strategy.