Line up of Drill Rigs
A Major Copper-Gold Porphyry Discovery

Cortadera

In February 2019 Hot Chili executed an option agreement to acquire a 100% interest in a major, privately-owned, copper-gold porphyry discovery, named Cortadera, adjoining the Company’s Productora and El Fuego copper projects, located on the Chilean coastal range. 

Cortadera lies 14km directly southeast of Productora and its acquisition allows Hot Chili an opportunity to develop both bulk tonnage deposits with a central processing option, at a time of resurgent copper prices.

Historical drill results from the Cortadera discovery have never previously been publicly released, and include numerous significant drilling intersections from over 23,000m of diamond drilling completed to date, including:

  • 90m grading 1.0% copper and 0.4g/t gold from 4m down-hole depth

  • 52m grading 0.9% copper and 0.4g/t gold from 6m down-hole depth

  • 864m grading 0.4% copper and 0.1g/t gold from 62m down-hole depth (including 348m grading 0.6% copper and 0.2g/t gold)

  • 268m grading 0.4% copper and 0.2g/t gold from 120m down-hole depth (including 42m grading 0.8% copper and 0.4g/t gold)

  • 406m grading 0.4%copper and 0.2g/t gold from 276m down-hole depth (including 146m grading 0.6% copper and 0.2g/t gold)

  • 198m grading 0.6% copper and 0.2g/t gold from 652m down-hole depth

The Cortadera discovery remains largely open and has demonstrated potential to host a large copper-gold deposit that the Company considers may be amenable to open pit mining.

Successful acquisition of Cortadera would provide the immediate critical mass required to develop a new large-scale, long-life copper mine – transforming Hot Chili into a premier ASX listed copper developer.