Hot Chili Reports Exceptional Copper-Gold Drill Results at La Verde
Hot Chili's Remarkable Discovery of Copper-Gold at La Verde
Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) is thrilled to announce a substantial copper-gold discovery at its La Verde project. The project is strategically located near the central processing hub of the Costa Fuego Copper-Gold Project. This discovery showcases the potential for significant mineral resources in the area.
Important Drill Results from La Verde
The first drill hole, DKP001, has already produced impressive initial results. It intersects 174 meters of copper and gold mineralization, grading 0.4% copper and 0.1 g/t gold starting from a depth of 36 meters. This finding is a significant indicator of the mineral-rich zones that lie within La Verde.
Drill Hole DKP002 Details
Following the first hole, the second drill hole, DKP002, located 120 meters southeast of DKP001, recorded an extraordinary intercept of 308 meters grading 0.5% copper and 0.3 g/t gold from a depth of 46 meters. Within this impressive length, there's a standout segment of 202 meters, showing an elevated grade of 0.6% copper and 0.3 g/t gold starting from a depth of 70 meters.
Upcoming Drilling Activity
The excitement doesn't end with the current results. Hot Chili has plans for 10 additional drill holes, which are anticipated to provide further insights into the mineralization at La Verde. With a total drill program expanded to 6,000 meters, the potential for further discoveries remains robust.
La Verde's Geological Significance
The La Verde porphyry system measures approximately 850 meters by 700 meters in size. Its footprint is comparable to the higher-grade Cortadera Cuerpo 3 copper-gold porphyry, which is located just 30 kilometers north. This similarity suggests that the region could host untapped mineral wealth.
Financial Outlook and Resource Studies
As of September 30, 2024, Hot Chili's treasury stands at approximately AUD 25.7 million, positioning the company well for its ongoing exploration efforts. Moreover, the company is advancing towards releasing a Pre-Feasibility Study for the Costa Fuego Copper-Gold Project and the Huasco Water Pre-Feasibility Study in the first quarter of 2025.
Conclusion
The recent drilling results from La Verde highlight Hot Chili's ongoing efforts in uncovering high-quality copper-gold mineralization. As the company progresses with its exploration programs, stakeholders are eagerly anticipating additional results that could further enhance the potential of the Costa Fuego Copper-Gold Project and its surrounding areas.
Frequently Asked Questions
What are the latest drill results from Hot Chili's La Verde project?
Hot Chili's latest drill results include significant intersections of copper and gold, notably 174 meters grading 0.4% copper and 0.1 g/t gold from DKP001 and 308 meters grading 0.5% copper and 0.3 g/t gold from DKP002.
How many drill holes are planned at La Verde?
Hot Chili has planned for a total of 10 additional drill holes as part of its expanded drill program at La Verde, which now totals 6,000 meters.
What is the significance of the La Verde porphyry system?
The La Verde porphyry system is significant due to its size of approximately 850 meters by 700 meters and its geological similarity to the higher-grade Cortadera Cuerpo 3 copper-gold porphyry system.
What financial resources does Hot Chili have for exploration?
As of September 30, 2024, Hot Chili has a treasury of approximately AUD 25.7 million, providing a solid foundation for their exploration efforts.
When are the Pre-Feasibility Studies expected to be released?
The Pre-Feasibility Studies for the Costa Fuego Copper-Gold Project and the Huasco Water PFS are expected to be released in the first quarter of 2025.
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