News

Hey neighbour! Hot Chili discovers second porphyry next door to La Verde

• Step-out drilling returned 148m at 0.44% copper equivalent from 36m
• A diamond hole has visually logged 307m of porphyry-style mineralisation, with assays pending
• Four rigs are operating, with results pending for 25 holes

Special Report: Hot Chili’s growth plans for its Costa Fuego copper hub in Chile have been boosted by step-out drilling uncovering a second copper-gold porphyry centre at its La Verde deposit.

The first reverse circulation step-out hole (DKP084), drilled about 250m south of La Verde’s established mineralised footprint, returned 148m at 0.44% copper equivalent (CuEq), including 0.39% copper and 0.07g/t gold, from 36m. This also includes 44m at 0.56% CuEq (0.5% copper and 0.06 g/t gold) from 138m.

Hot Chili (ASX:HCH) says diamond drilling has visually identified copper mineralisation over a 307m interval from 40m, with assays pending.

DKP084 was designed to follow up and test for extensions south of previously reported RC drill hole DKP024, which recorded 114m at 0.4% CuEq (0.4% Cu) from 86m, including 52m at 0.5% CuEq from 96m.

“We are very pleased with the results of our first step-out drilling to the south of La Verde,” managing director Christian Easterday said.

“Drilling has confirmed a second porphyry centre, concealed beneath shallow Atacama gravels, with the potential to be of similar scale to La Verde.

“These initial results provide yet another boost to Hot Chili’s growth plans for its Costa Fuego copper hub in Chile.”

Another copper centre emerges

The RC intersection is predominantly near-surface oxide copper mineralisation, extending the footprint defined by more than 40,000m of drilling at La Verde.

Hole DKD100 has visually logged a 307m interval of porphyry-style copper mineralisation from 40m to its current depth of 347m.

The upper section contains oxide copper minerals, while the interval from 172m to 347m shows sulphide mineralisation, including chalcopyrite and porphyry-style veining.

Assays are pending, but the visual observations support HCH’s interpretation of a second porphyry centre.

Drilling is continuing towards a planned depth of 500m, with two rigs testing La Verde South and two completing resource-definition work at La Verde.

Bigger plans for Costa Fuego

HCH is preparing a revised pre-feasibility study for Costa Fuego that will incorporate La Verde, following release of the maiden mineral resource estimate for the discovery.

Preparation of a formal environmental impact assessment submission is also on track for Costa Fuego, with the company targeting the second quarter of 2027.

“The upcoming addition of a maiden MRE for La Verde, and now confirmation of a much larger discovery than first recognised, is a game changer for the Company,” Easterday said.

Four rigs are operating, with assay results pending for 25 holes, including six southern step-outs and 19 resource-definition holes.