Hot Chili Launches Second Diamond Drilling Phase to Expand La Verde Discovery
Hot Chili Limited has initiated a second phase of diamond drilling at its La Verde copper-gold porphyry discovery in Chile, aiming to significantly enlarge the known mineralised footprint. This follows a successful initial drilling campaign that confirmed substantial copper mineralisation open at depth and laterally.
- Second phase diamond drilling commenced at La Verde Cu-Au discovery
- Initial reverse circulation drilling confirmed a 1,000m by 750m copper mineralisation footprint
- Drilling aims to extend high-grade centres at depth and laterally
- Potential to add significant material to Costa Fuego project’s mine life and financial metrics
- Regulatory approvals underway for further drilling and exploration activities
Diamond Drilling Resumes at La Verde
Hot Chili Limited (ASX – HCH) has announced the commencement of a second phase of diamond drilling at its La Verde copper-gold porphyry discovery, located approximately 30 kilometres south of the company’s flagship Costa Fuego project in Chile’s Atacama region. This new drilling campaign, which began on 22 September 2025, aims to significantly expand the initial shallow discovery footprint identified earlier this year.
The first phase of drilling, conducted using reverse circulation (RC) methods, successfully delineated a substantial copper mineralisation footprint measuring roughly 1,000 metres by 750 metres and extending to a vertical depth of 400 metres. Notably, over half of the initial drill holes ended in significant mineralisation, indicating the deposit remains open both at depth and laterally.
Expanding High-Grade Mineralisation
The current diamond drilling program is designed to target extensions of three distinct higher-grade mineralised centres identified during the first-pass drilling. By focusing on these zones, Hot Chili hopes to better define the size and quality of the deposit, which could materially enhance the overall resource base.
Importantly, the company’s modelling suggests that additional material from La Verde could be incorporated into the front-end of the Costa Fuego mine plan, potentially extending the mine life beyond the current 20-year schedule outlined in the March 2025 Pre-feasibility Study. This would also improve key financial metrics, reinforcing the project’s economic viability.
Regulatory and Operational Outlook
Hot Chili is progressing regulatory approvals for further drilling activities at La Verde and nearby exploration targets, which share similar geological characteristics. These approvals are critical to maintaining momentum and allowing the company to test lateral and depth extensions of the discovery.
The company’s Managing Director, Christian Easterday, emphasised the strategic importance of La Verde within the broader Costa Fuego project, highlighting the potential for district-scale porphyry cluster development. He also noted that the ongoing drilling results will provide valuable updates for investors and stakeholders as the exploration program advances.
Looking Ahead
While the exploration targets remain conceptual at this stage, with insufficient data to estimate a formal Mineral Resource, the early results are promising. Hot Chili’s disciplined approach to drilling and resource modelling will be key to unlocking the full potential of La Verde and integrating it into the company’s growing copper-gold portfolio.
Bottom Line?
Hot Chili’s expanded drilling at La Verde could be a pivotal step in enhancing Costa Fuego’s scale and value.
Questions in the middle?
- How will upcoming drill results impact the estimated size and grade of the La Verde deposit?
- What timeline is Hot Chili targeting for updated resource estimates and feasibility studies?
- How might regulatory approvals influence the pace and scope of further exploration at La Verde?
