STOCKHEAD | Nov 30, 2022
Hot Chili has taken another bite of the cherry, expanding the footprint of its Cortadera copper-gold play. Pic via Getty Images.
Mere days after securing a second major porphyry, Hot Chili has further expanded the footprint of its Cortadera copper-gold play by acquiring new mining rights.
The new rights – secured at low-cost through a government-run public auction – cover the western extension of the discovery and increases its prospective strike length to 5.2km, an increase from the 4.1km following the Cuerpo 4 acquisition.
Importantly for Hot Chili (ASX:HCH), the seven new mining rights covering 757 hectares host four large porphyry targets that have the potential to materially increase the scale of the broader Costa Fuego copper-gold development.
It also consolidates the western extension of Cortadera, allowing the company to test a potentially much larger porphyry cluster.
Extending two major trends
Hot Chili’s new ground extends the prospective strike lengths of two mineralised trends.
The Las Canas trend, which includes three of the new porphyry targets and the Cuerpo 4 porphyry, has been extended by more than 1.8km.
Meanwhile, the key Cortadera trend has been extended by 1.1km with the addition of a new porphyry target that is directly along strike from Cortadera on the Serrano fault, an important mineralising fault corridor connecting the Cortadera and Productora copper-gold deposits.