Hot Chili Unveils Expanding Copper-Gold Porphyry at La Verde

A Major Porphyry Emerges in Chile's Coastal Range

Hot Chili Limited (ASX: HCH) has announced compelling new drill results from its La Verde copper-gold porphyry discovery, located approximately 30 kilometres south of the company’s Costa Fuego project hub in Chile. The latest assays from ten Reverse Circulation (RC) drill holes confirm a substantial and consistently mineralised system extending over 300 metres vertically, starting at shallow depths beneath a low elevation coastal setting.

The La Verde discovery now boasts a footprint of 550 metres by 400 metres and remains open in all directions, underscoring its potential to become a significant bulk-tonnage copper-gold deposit. Notably, eight of the twelve reported drill holes ended in mineralisation, suggesting the system extends beyond current drilling depths and hinting at deeper, higher-grade zones yet to be tested.

Significant Intersections Highlight Scale and Grade

Among the standout results, hole DKP009 returned 320 metres grading 0.3% copper and 0.1 g/t gold from 34 metres downhole, including higher-grade intervals such as 134 metres at 0.4% copper and 0.2 g/t gold. Other notable intercepts include 200 metres at 0.4% copper from 48 metres (DKP005) and 172 metres at 0.4% copper and 0.2 g/t gold from 48 metres (DKP012). Previous drilling reported in December 2024 had already revealed impressive widths and grades, including 308 metres at 0.5% copper and 0.3 g/t gold (DKP002).

These results reinforce La Verde’s potential to significantly augment Hot Chili’s resource base. The mineralisation style and scale bear resemblance to other major porphyry discoveries in the region, such as Cortadera and Filo del Sol, both known for their large tonnage and economic viability.

Strategic Consolidation and Advanced Studies

Hot Chili’s Managing Director Christian Easterday highlighted the strategic importance of La Verde, noting the company’s recent consolidation of full control over the project area. This unrestricted access has enabled comprehensive drilling campaigns that have unveiled a much larger system than previously recognized, largely concealed beneath shallow gravel cover.

Alongside exploration progress, Hot Chili is advancing pre-feasibility studies (PFS) for both the Costa Fuego copper-gold project and an associated water supply business in the Huasco valley. With approximately A$19 million in cash as of December 2024, the company is well-positioned to continue aggressive drilling and development planning.

Next Steps and Market Implications

Step-out drilling is currently underway with the aim of potentially doubling the La Verde footprint, while assays from seven additional drill holes are pending. Plans for deeper diamond drilling are also in place to explore the vertical extent of mineralisation, which could exceed one kilometre, consistent with other major porphyry systems.

La Verde’s rapid emergence as a major copper-gold discovery comes at a time of tightening primary copper supply and rising copper and gold prices, factors that could enhance the project’s economic prospects. The integration of AI-powered exploration techniques further signals Hot Chili’s commitment to leveraging technology to accelerate resource growth.