Hot Chili’s La Verde Drilling Expands High-Grade Copper-Gold Core

Broad 180m Mineralised Step-Out Extends High-Grade Core

Hot Chili Limited (ASX:HCH) continues to expand the high-grade core of its La Verde copper-gold porphyry discovery in Chile with a visually impressive 180-metre downhole mineralised interval in diamond drillhole DKD049. This hole represents a significant 175-metre step-out to the east, materially enlarging the eastern flank of La Verde’s high-grade core. The mineralisation, dominated by chalcopyrite and pyrite in a tonalite host, is consistent with strong porphyry-style copper-gold mineralisation.

The company is now focusing diamond drilling to test further up-dip continuity of this eastern flank extension, with assay results from DKD049 expected in late May 2026. This follows the earlier standout intersection in DKD039, which recorded the widest and highest-grade mineralisation to date at La Verde, together extending the core footprint substantially eastwards. Such growth underpins the project’s potential to support a robust resource base within the broader Costa Fuego copper-gold project.

Near-Surface Drilling Strengthens Starter Pit Prospects

Complementing the deep step-out, three Reverse Circulation (RC) holes; DKP052, DKP053, and DKP054; collared near surface beneath a historical waste dump have delivered wide visual intersections of strong porphyry-style mineralisation. These holes recorded mineralised widths of 205m, 256m, and 129m respectively, adding continuity to the higher-grade near-surface zone that could form a starter pit.

Notably, oxide copper mineralisation (limonites and green oxides) was observed within and immediately below the waste dump, potentially expanding the gold-rich core closer to surface. The lateral extent of the +0.4% copper equivalent footprint remains open in all directions, suggesting further upside. Assays for these RC holes are anticipated in June 2026.

Diamond Drillhole DKD040 Confirms Better-Than-Expected Grades

Diamond hole DKD040, drilled within the central high-grade core, has confirmed mineralisation in an area previously interpreted as lower grade from earlier first-pass RC drilling. The hole intersected multiple broad zones exceeding 0.5% copper equivalent from shallow depths, including 86.6 metres at 0.45% CuEq from 4.4 metres and a deeper 163.9-metre interval at 0.43% CuEq from 185.2 metres. Within this deeper zone, a 20-metre higher-grade gold-rich segment graded 0.60% CuEq.

This result reduces uncertainty around earlier interpretations and expands the near-surface gold-rich core, which is critical for project economics. The visual mineral estimates are encouraging but await assay confirmation, which remains pending for eight diamond and six RC drill holes.

Ongoing Drilling and Exploration Plans

Hot Chili is preparing to deploy a third drill rig in the coming week to accelerate the current program. The company’s exploration strategy remains focused on extending and infilling the high-grade core and starter pit zones to support future resource estimation and economic studies. The drilling results integrate with conceptual open pit shells modelled at copper prices of US$3.50 and US$6.00 per pound, though these remain exploration targets without defined mineral resources.

The latest drilling update builds on Hot Chili’s recent capital raise and feasibility study progress, positioning La Verde as a key growth driver within the Costa Fuego project. The company’s Managing Director Christian Easterday emphasises the significance of these step-outs and near-surface extensions in underpinning the project’s long-term potential.

Hot Chili’s drilling and assay campaign at La Verde follows a series of positive developments, including the A$40 million capital raise that bolstered funding for accelerated exploration and the major high-grade extension confirmation earlier this year, both of which have advanced the company’s path toward resource definition.