By Abbey Phillipps




Coline Sandell-Hay | The Assay | April 7, 2022

Hot Chili Limited’s (ASX:HCH) (TSXV:HCH) (OTCQX:HHLKF) application to join the US-based OTCQX market has been accepted and the company’s shares will commence trading in the US on the OTCQX Best Market under the ticker OTCQX: HHLKF on April 7, 2022.

 The OTCQX Best Market is the highest tier of OTC Markets Group’s market platforms, on which 12,000 US and international securities trade.

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

Managing Director, Christian Easterday, said Hot Chili Ltd has upgraded to OTCQX from the OTCQB Venture Market where it has been trading since 6 May 2021. By upgrading to the OTCQX the company is positioned to enhance its visibility and broaden its access to the extensive market of US retail, high net worth and institutional investors.

The primary advantages to North American investors of the company’s inclusion on the OTCQX platform include:

• It allows trading of HCH securities in the local time zone; appealing to investors and brokers who prefer securities that trade and settle during US trading hours.

• Trades and settlements are conducted in US Dollars with no exchange rate risk or additional FX fees.

 The company’s shares will continue to trade on the Australian Securities Exchange and the TSX Venture Exchange under the symbol HCH, with its shares now also tradeable on the OTCQX market (

“We are delighted to be moving up to OTCQX, as we deliver the next level of growth. An upgrade to OTCQX is a logical next step for Hot Chili,” Mr Easterday said.

“This designation is OTC Market’s top tier and a step towards greater liquidity and support to our active North American investor outreach.”

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STOCKHEAD | January 13, 2023

Two drill rigs are currently drilling Cortadera’s potential fourth porphyry. Pic: Getty Images

An initial 10,000m drilling program will test four porphyry targets as well as three other targets on the recently optioned AMSA landholding.

The company has started the new year with a bang as one diamond drill rig – operating on a double shift basis – and one reverse circulation rig are back in operation, testing Cortadera’s potential to host a much larger copper porphyry cluster than originally defined.

Hot Chili (ASX:HCH) has more than doubled the strike length of the discovery from 2.3km to 5.2km, increasing the near term material resource growth potential.

Both drill rigs are busy drilling Cortadera’s fourth porphyry, where previous historical drilling intersected shallow copper-gold porphyry mineralisation at 128m grading 0.5% copper equivalent (0.4% copper and 0.1g/t gold) from 28m.

Key growth activities on track for delivery this year

HCH says it is well funded to complete its planned drilling and deliver the next set of key growth and development milestones for Costa Fuego this year, which include a Preliminary Economic Assessment (PEA) in the first half of this year and a resource upgrade in the second half.

It hopes to potentially up-scale Costa Fuego’s future annual metal production rates, currently being studied at up to 100,000t copper and up to 70,000oz gold for a +20-year life of mine.

Hot Chili intends to deliver Costa Fuego’s Pre-feasibility Study (PFS) by 2024 and remains on-track as one of only a few near-term production projects in the world capable of producing +10,000tpa copper in the next five years.

The Assay | May 17, 2022

Hot Chili Ltd (TSXV:HCH, OTCQX:HHLKF, ASX:HCH) has filed a National Instrument 43-101 Technical Report for its Costa Fuego copper-gold project in Chile with the Canadian Securities Administrators.

The filing of the report is further to its mineral resources upgrade announcement released to ASX on March 31, 2022 “Hot Chili Delivers Next Level of Growth” (Mineral Resources Upgrade Announcement).

The Report titled “Resource Report For the Costa Fuego Copper Project Located in Atacama, Chile Technical Report NI43-101” and dated May 13, 2022, with an effective date of March 31 2022, was prepared pursuant to Canadian National Instrument 43-101.

It is available for review on both SEDAR ( and the company’s website ( The Report supports the news release dated March31, 2022 announcing a significant increase in the company’s mineral resource estimates at Costa Fuego.

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The Assay | May 20, 2022

Hot Chili Limited (ASX: HCH) (TSXV: HCH) has obtained another outstanding drill result at the Cortadera porphyry deposit, part of the company’s Costa Fuego, coastal range, copper-gold hub in Chile.

Managing Director Christian Easterday said that Cortadera has a track record of outperforming expectation.

“The PFS in-fill drill programme across Cortadera has collected important geotechnical and hydrogeological information and has also continued to define and expand high grade resources,” Mr Easterday said.

“Upgrading our resources with wide drill intersections grading 0.8% to 1.0% copper equivalent is a great outcome, which demonstrates the quality and growth potential of Costa Fuego as one of the only low-altitude, material, copper developments in the world capable of near-term development.”

Latest Significant Drill Results from Cortadera

 Latest results from development study drilling at Cortadera have returned further significant intersections.

 Diamond drill hole CORMET005 returned 658m grading 0.6% CuEq (0.4% Cu, 0.2g/t Au, 122ppm Mo) from 232m depth, including 134m grading 0.8% CuEq (0.6% Cu, 0.2g/t Au, 181ppm Mo) from 470m depth, and including 130m grading 0.9% CuEq (0.6% Cu, 0.2g/t Au, 253ppm Mo) from 662m depth.

CORMET005 was drilled across the northern flank to the high-grade core within the main porphyry (Cuerpo 3) at Cortadera.

Mr Easterday said that pleasingly, the wide significant intersection again confirmed further extension to the high grade core and included an impressive 30m grading 1.4% CuEq (1.1% Cu, 0.5g/t Au, 165ppm Mo) from 690m depth outside of the current high grade (+0.6% CuEq) resource model.

The latest result follows the previous two outstanding drill results in April 2022 from Cuerpo 3, which also confirmed further growth of the high grade core, notably:
• 552m at 0.6% CuEq from 276m depth, including 248m at 0.8% CuEq (CORMET003), and

• 876m grading 0.5% CuEq from 246m depth, including 206m grading 0.9% CuEq (CORMET006)

In addition, diamond drill hole CORMET002 has returned 370m grading 0.4% CuEq (0.3% Cu, 0.1g/t Au) from surface, including 20m grading 0.8% CuEq (0.6% Cu, 0.4g/t Au) from 24m depth, and including 22m grading 1.0% CuEq (0.8% Cu, 0.5g/t Au) from 136m depth at Cuerpo 2.

These high-grade intersections were also outside the current high grade resource at Cuerpo 2.

 A final development study diamond drill hole (CORMET004) is being completed at Cortadera and results are also pending for four metallurgical diamond drill holes completed at Productora.

High-Grade Satellite Resource Drilling Underway

Resource growth drilling has commenced targeting the San Antonio and Valentina high grade copper deposits, located 5 kms northeast of Cortadera.

High-grade, copper-gold mineralisation at both deposits remains open at depth and along strike. Drilling is already underway at Valentina where ten drill holes are planned. A further thirteen drill holes are planned at San Antonio.

San Antonio’s maiden Inferred resource, reported in March, extends from surface and already stands at 4.2Mt @ 1.2% CuEq (1.1% Cu, 2.1g/t Ag) for 48kt Cu and 287kt Ag. Both high grade satellite deposits are intended to form part of Costa Fuego’s next resource upgrade and combined PFS open pit mine schedule later this year.

Santiago Z Target Prepared for First-Ever Drilling Platform and access clearing across the Santiago Z exploration target is expected to be complete in the coming week and first-pass drilling is expected to commence following conclusion of drilling at Valentina and San Antonio.

Hot Chili’s soil results and mapping have confirmed a potentially large copper porphyry footprint measuring.

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STOCKHEAD | Dec 07, 2022

Hot Chili has taken another bite of the cherry, expanding the footprint of its Cortadera copper-gold play. Pic via Getty Images.

The Chilean Naval Authority has granted copper developer Hot Chili access to the physical land of its Maritime Concession for extraction of sea water just 60km from the proposed location of Costa Fuego’s central processing facilities in Chile.

It’s another feather in the cap for the company, whose Costa Fuego project is slated to be a green copper development using sea water – with no ground water or desalination plant required.

Hot Chili (ASX:HCH) says the approval of its maritime application (water extraction right and associated land access rights) shows the Government’s support for the development of a new large-scale copper hub for the Vallenar region of Chile.

100% run on renewables too

This news adds another layer to the project’s environmental credentials at the Costa Fuego project, with Hot Chili able to operate off a mix of nearby solar, wind and hydroelectric generators, and having a clean (arsenic-free) concentrate.

Plus, the company recently received approval from Chile’s Central Authority Electrical Regulator to connect to the Maitencillo substation 17km from the centre of the Costa Fuego development.

It opens access for Hot Chili to the national electricity grid, with the company able to negotiate with the multiple renewable energy providers in the South American nation.

A process to select one or more electrical providers is expected to begin in the fourth quarter of 2022.