Highlights
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Potential large porphyry cluster emerging: Multiple look-alike magnetic features adjacent to Hot Chili’s La Verde copper-gold (Cu-Au) porphyry discovery highlight potential for a broader district-scale porphyry system
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Three priority porphyry targets identified, blind exploration opportunity: Generated by recent geochemical and geophysical work programs, two targets are concealed under shallow gravel cover
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Phase-two La Verde drill program expanded: Next drilling planned to extend the La Verde Cu-Au discovery (still open laterally and at depth), in addition to first-pass drilling of these additional targets
Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) provided an update on regional exploration in the area surrounding the La Verde copper-gold porphyry discovery (“La Verde”), which is located approximately 30km south of the Company’s Costa Fuego Copper-Gold Project (“Costa Fuego” or “the Project”) planned central processing hub at low elevation in the coastal range of the Atacama region, Chile.
Following the recently announced drill results confirming the 1,000 m by 750 m footprint across La Verde and identification of multiple spatially distinct higher-grade centers from near-surface (refer to announcement dated 19 May 2025), the Company is excited to share that regional exploration activities have identified three look-alike targets which highlight the potential for a district scale porphyry cluster surrounding La Verde.
The integration of a 3D magnetic inversion model from ground magnetic data shows a spatial correlation between the mineralized tonalitic porphyry intrusion and a NNE-SSW trending weakly magnetic anomaly over La Verde. This magnetic anomaly sits within a localized circular magnetic-low feature. This relationship has been used to identify three additional circular magnetic-low features (lookalike targets) adjacent to La Verde, all of which are well-positioned at the intersection point of major regional structures (Figure 3).
In addition to the geophysical data, the Company has also completed 3D geochemical probability modelling using an extensive regional soil geochemistry program.
Probability models of potential mineralization were generated by Fathom Geophysics, using algorithms developed from an extensive study of the spatial distribution of pathfinder element associations across the Yerington copper-gold porphyry deposit in Nevada, USA.
This technique has previously been successful in spatially locating the Company’s existing Cu-Au projects, Productora and Cortadera (see announcement dated 17 September 2021).
The 3D geochemical modelling defined an area of interest approximately 1 km to the north-east of La Verde which, importantly, overlaps one of the magnetic-low features defined by the 3D magnetic inversion model (Figure 2). The alignment between geochemical and geophysical data sets, as separate independent methods, increases confidence in this target area.
The other two priority target areas are overlaid by a gravel cover sequence which obscures geochemical pathfinders in soil sampling (Figure 3).
Ahead of drill planning, further detailed mapping and rock chip sampling are currently underway across these new areas of interest. The regulatory drill pad application for second-pass drilling will provide coverage of these new targets and is expected to be approved in September 2025.
The Company looks forward to releasing further exploration updates as they become available.
This announcement is authorized by the Board of Directors for release to ASX and TSXV.
Figure 1. Location of La Verde in relation to Costa Fuego, coastal range Chile
Figure 2 – Long section view A – A’ facing north-west showing the La Verde +0.2% (yellow) and +0.3% copper (red) mineralization interpolants in comparison to the 3D magnetic inversion model (displayed as blocks, filtered for Magnetic Susceptibility > 0.014) and 3D geochemical target at La Verde North-East. Local circular magnetic low features are outlined (white dashed line) and locations where shallow weakly magnetic anomalies extend to the surface are marked with blue arrows. Position of 850 RL depth shown for 3D magnetic inversion model slice in Figure 3.
Figure 3. Plan view showing the La Verde +0.2% Cu mineralization interpolant in relation to regional magnetic destruction footprint (red dashed), local magnetic low features (white dashed), weakly magnetic anomalies (white line) and Fathom 3D geochemical probability models (purple isosurfaces). Left – shown overlain on reduced-to-the-pole (RTP) ground magnetics and the 3D magnetic inversion model (sliced at 850 RL, displayed as blocks, filtered for Magnetic Susceptibility > 0.014). Right – shown in relation to mapped gravel cover, interpreted regional structures and soil sample coverage. A – A’ indicates the position of long section in Figure 2.
Qualifying Statements
Qualified Person – NI 43-101
The technical information in this announcement has been reviewed and approved by Mr. Christian Easterday, MAIG, Hot Chili’s Managing Director and a qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Competent Person – JORC
The information in this announcement that relates to Exploration Results for the La Verde project is based upon information compiled by Mr. Christian Easterday, the Managing Director and a full-time employee of Hot Chili Limited, who is a Member of the Australasian Institute of Geoscientists (AIG). Mr. Easterday has sufficient experience that is relevant to the style of mineralization and type of deposits under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person’ as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr. Easterday consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears.
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