Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) provided an update on continuing drilling operations at the La Verde copper-gold porphyry discovery (“La Verde”), 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.
Highlights
Drilling Coverage at La Verde Doubled and Continuing to Expand
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First-pass drill coverage now extends across an area measuring 1,000m by 550m: 27 reverse circulation (“RC”) holes for 8,162 m drilled to date
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Assay results pending for fifteen drill holes: Assay turnaround time from laboratories slower than usual due to peak summer drilling season in the high Andes
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Shallow porphyry mineralization remains open in all directions: Drilling planned to continue
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Deeper diamond drill testing being planned: 8 of 12 drill RC holes reported to date recorded significant mineralization to end-of-hole
Development Studies Update
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Pre-Feasibility Studies (PFS) for Costa Fuego and Huasco Water in final stages of completion
View looking SW across the La Verde copper-gold porphyry discovery – showing collar locations of seven step-out drill holes relative to discovery hole DKP002 and historic copper oxide open pit area.
The Company previously reported a 400 m by 550 m discovery footprint at La Verde, extending from shallow depth to approximately 300 m vertically, confirmed by assay results from the first 12 RC drill holes, which all recorded broad zones copper-gold porphyry mineralization (refer to announcement dated February 11, 2025). Eight of these holes recorded significant mineralization to end-of-hole, as displayed in figures 2 to 4.
Hot Chili is continuing to undertake systematic step-out drilling at La Verde with 27 RC drill holes (for 8,162 m) completed to date, including seven drill holes to the south of the initial discovery footprint testing potential for “blind” extensions below gravel cover. Surface gravels obscure the underlying geology and appear to be limited to 10 – 15 m vertical thickness in the southern extent of drilling as displayed on page 1 of this announcement.
Drill coverage has more than doubled since mid-February 2025 with first pass drilling extended across an area measuring 1,000 m by 550 m and tested to the depth of RC drilling capability (up to 350 m vertical) as displayed in figure 3. Assay results for fifteen holes are pending.
RC drilling is expected to continue, and the Company is planning an initial phase of diamond drilling to test below broad, higher-grade, copper-gold zones intersected by Hot Chili’s drilling and which remain open at depth.
The Company has experienced delays in turn-around time for drill assay results from regional laboratories due to peak summer drilling season in the high Andes. This is expected to moderate over the coming months moving into winter season.
The Company looks forward to releasing further exploration updates and assay results as they become available.
Figure 1: Location of La Verde in relation to Costa Fuego, coastal range Chile 
Figure 2: Plan view map of the La Verde porphyry system showing significant intercepts compared to recent drill hole collars (yellow circles), planned drill collars (white circles) historic drill collars (black circles), +1% A+B vein footprint from mapping and drillholes (blue outline) and copper mineralisation interpolants from returned assay results.
Figure 3: Plan view slice at 950 RL (± 50 m clipping) of modelled tonalitic (pink polygon) and dioritic porphyry (red polygon) intrusions. Returned Cu grades graphed downhole. Area currently being drill tested is outlined by the dashed blue box.
Figure 4. NNW facing longitudinal section (A – A’) of the La Verde porphyry system showing significant intercepts compared to the modelled tonalitic (pink) and dioritic (red) porphyry intrusions interpreted from down hole geological logging. Weathering profile displayed as base of oxide (red line) and top of fresh (green line) material. Returned Cu grades graphed downhole along hole traces (grey). Area currently being tested outlined by the dashed blue box. Recent drill hole collars highlighted with yellow circles.
announcement “Hot Chili Confirms Major Cu-Au Porphyry Discovery at La Verde” dated February 11,
2025.
Hot Chili Limited is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.
