What We Produce
At Hot Chili, our focus is on developing our large-scale Chilean copper projects. We are a leading developer of copper-gold projects in Chile’s low altitude coastal range. Our Productora copper-gold project recently began production through a partnership with Chilean government-owned ENAMI, and recent drill results from our Cortadera project include six world-class intersections.
Productora Copper-Gold Project
Productora is a large-scale, advanced stage copper-gold project located in the coastal range of Chile. With ongoing development of Productora and nearby Cortadera (discussed below), Hot Chili aims to be one of the biggest copper producers in the region.
Productora is a joint venture: 80% owned by Sociedad Minera El Corazón Limitada (a 100% subsidiary of Hot Chili Limited), and 20% owned by CMP Productora (a 100% subsidiary of Compañía Minera del Pacífico S.A). The property is estimated to have probable Ore Reserves of 166.9 million tonnes grading 0.43% Cu, 0.09g/t Au and 138 ppm Mo for 716 kt copper and 470 koz gold in contained metal.
Hot Chili’s primary focus is copper in Chile (and Chile, of course, is the world’s largest copper-producing country). However, our Productora project, as well as Cortadera, contain significant inventories of gold, as the above numbers reflect. This makes the project even more attractive given the recent increase in gold prices.
Cortadera Copper-Gold Discovery
The centerpiece of our project portfolio is Cortadera. We believe that Cortadera has the potential to be one of the most significant copper-gold porphyry discoveries of the past decade in Chile, and could help make Hot Chili one of the largest copper producers in the region.
Prior to its acquisition, Cortadera was a family-owned project and relatively little was known about the discovery. However, in 2019, Hot Chili acquired it and commenced an aggressive discovery program. Hot Chili’s exploration has yielded a higher grade bulk tonnage underground. When combined with the shallow, high grade bulk tonnage at the open pit source, this development places Cortadera as a potential large-scale global copper development project that could attain to a Tier 1 status.
Other Chile Copper Exports
Our El Fuego copper project encompasses two historic Chile copper mines – San Antonio & Valentina. At one time, these were at two of the highest-grade underground mines in the region.
Before Hot Chili acquired the project, and during the life of these mines, modern exploration (i.e., using modern techniques to identify and delineate the full extent of the copper deposits) was minimal. Accordingly, we believe much of the high-grade copper remains in the ground.
To date, we have focused most of our efforts on the San Antonio mine, which began operation in 1964 and is reported to have produced 2 million tonnes of copper, grading 2 percent. Our first-pass drilling detected a shallow high-grade copper deposit, which suggests that El Fuego can add significantly to our high-grade copper inventory in the area.