Hot Chili Limited has reported a substantial 391.1-metre copper-gold intersection grading 0.51% copper equivalent from surface at its La Verde discovery in Chile, reinforcing the project's potential for a high-grade starter pit within the Costa Fuego copper-gold project.
- 391.1m at 0.51% CuEq from surface in drill hole DKD044
- Strong continuity of shallow, higher-grade copper-gold mineralisation
- Pending assays for 22 drill holes to confirm extensions
- Additional ISO-accredited lab engaged to speed assay turnaround
- Three drill rigs active advancing resource definition and feasibility
Impressive Near-Surface Copper-Gold Intercept at La Verde
Hot Chili Limited (ASX:HCH) has delivered another strong drilling result from its La Verde porphyry discovery in Chile’s Atacama region, reporting a 391.1-metre intersection grading 0.51% copper equivalent (CuEq) from surface in diamond drill hole DKD044. This broad zone includes multiple higher-grade intervals, such as 19.7 metres at 0.70% CuEq from 276.1 metres depth, confirming the continuity of copper-gold mineralisation near surface.
La Verde lies just 30 kilometres south of the company’s planned Costa Fuego central processing hub, and these results bolster the prospect of a substantial high-grade starter pit to underpin the project’s development. Mineralisation starting from surface is particularly encouraging for open-pit economics.
Expanding the High-Grade Core and Resource Footprint
Drill hole DKD044 was designed to test continuity adjacent to a previously reported 725-metre intersection in hole DKD039, which graded 0.42% CuEq and included a 62-metre high-grade core at 1.03% CuEq. DKD044’s results not only meet but exceed visual expectations, with assay results confirming strong chalcopyrite-rich mineralisation.
Located about 150 metres west of DKD044, step-out hole DKD049 has visually logged a 180-metre mineralised zone featuring disseminated and vein-hosted chalcopyrite and pyrite, suggesting the high-grade core may widen between these holes. Assays for DKD049 and 21 other drill holes, including six diamond and 16 reverse circulation holes, are pending and expected in the coming weeks, potentially expanding the known mineralised footprint further.
Additional Drilling Confirms Bulk Tonnage Continuity
Complementary results from diamond hole DKD042 and reverse circulation hole DKP041 reinforce the continuity of near-surface bulk tonnage mineralisation. DKD042 intersected 96.4 metres at 0.40% CuEq from 11.6 metres depth, including a 22.4-metre interval at 0.62% CuEq. Meanwhile, DKP041 recorded 224 metres at 0.40% CuEq from 92 metres, with multiple higher-grade sub-intervals.
These intersections underpin the potential for a large-scale, shallow copper-gold system amenable to open-pit mining, supporting Hot Chili’s ongoing resource definition efforts at La Verde.
Operational Steps to Accelerate Assay Reporting
Hot Chili has engaged a second ISO-accredited laboratory to help alleviate assay turnaround delays, which have extended to over 10 weeks in some cases. This move aims to expedite the delivery of outstanding assay results, ensuring a steady flow of news as drilling advances.
Currently, three drill rigs are active at La Verde, with the company targeting a maiden Mineral Resource estimate and a revised Pre-feasibility Study for Costa Fuego. The steady ramp-up of drilling activity and assay reporting will be critical to refining the project’s scale and grade profile.
Technical Rigor and Exploration Outlook
The drilling program employs a combination of diamond and reverse circulation techniques, with detailed geological logging and rigorous quality control measures. Copper equivalent grades are calculated using conservative metal price assumptions and recovery proxies based on similar deposits, ensuring transparent reporting.
While these results are promising, assay data for deeper intervals of DKD044 and multiple other holes remain outstanding, leaving some uncertainty about the full extent of mineralisation. Future assay releases will be pivotal in confirming the size and grade continuity of La Verde’s high-grade core.
Bottom Line?
Hot Chili’s latest drilling at La Verde strengthens the case for a high-grade starter pit at Costa Fuego, but pending assays will be key to defining the project’s full potential.
Questions in the middle?
- Will pending assays confirm further expansion of La Verde’s high-grade core?
- How will accelerated assay turnaround impact project development timelines?
- What scale and grade can be expected from the maiden Mineral Resource estimate?