{"id":30740,"date":"2024-12-18T09:33:35","date_gmt":"2024-12-18T14:33:35","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=30740"},"modified":"2024-12-18T09:33:35","modified_gmt":"2024-12-18T14:33:35","slug":"hot-chili-intersects-significant-copper-gold-porphyry-style-mineralization-at-la-verde","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/hot-chili-intersects-significant-copper-gold-porphyry-style-mineralization-at-la-verde\/","title":{"rendered":"Hot Chili Intersects Significant Copper-Gold Porphyry-style Mineralization at La Verde"},"content":{"rendered":"<h3 class=\"yf-1pe5jgt\">Highlights<\/h3>\n<ul class=\"yf-1woyvo2\">\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\">First\u00a0drill\u00a0hole (DKP001) at La Verde intersects intercepts\u00a0<span class=\"xn-money\">174m<\/span>\u00a0grading 0.4% copper\u00a0(Cu), 0.1g\/t gold (Au) from\u00a0<span class=\"xn-money\">36m<\/span>\u00a0depth<\/p>\n<\/li>\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\"><b>Second drill hole\u00a0(DKP002), located\u00a0<span class=\"xn-money\">120m<\/span>\u00a0southeast of DKP001,\u00a0recorded\u00a0<\/b><b><span class=\"xn-money\">308m<\/span>\u00a0grading 0.5% Cu and 0.3g\/t Au from\u00a0<span class=\"xn-money\">46m<\/span>\u00a0depth to end of hole<\/b><\/p>\n<ul class=\"yf-1woyvo2\">\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\"><b>including\u00a0<span class=\"xn-money\">202m<\/span>\u00a0grading 0.6% Cu, 0.3g\/t Au from\u00a0<span class=\"xn-money\">70m<\/span>\u00a0depth<\/b><\/p>\n<\/li>\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\"><b>which includes\u00a0<span class=\"xn-money\">100m<\/span>\u00a0grading 0.7% Cu, 0.3g\/t Au from\u00a0<span class=\"xn-money\">118m<\/span>\u00a0depth<\/b><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\"><b>Results\u00a0for\u00a010\u00a0more\u00a0drill\u00a0holes pending\u00a0and\u00a0drill\u00a0program\u00a0expanded to\u00a06,000m<\/b><\/p>\n<\/li>\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\">La Verde&#8217;s\u00a0porphyry footprint, measures approximately\u00a0850m by\u00a0700m;\u00a0comparable\u00a0to Hot\u00a0Chili&#8217;s higher-grade Cortadera Cuerpo 3 copper-gold porphyry, located 30km north<\/p>\n<\/li>\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\"><b>Costa\u00a0Fuego\u00a0Copper-Gold\u00a0Project Pre-feasibility\u00a0Study\u00a0(PFS)\u00a0and\u00a0Huasco\u00a0Water\u00a0PFS\u00a0advancing towards release in Q1, 2025<\/b><\/p>\n<\/li>\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\">Treasury\u00a0of\u00a0approximately\u00a0A$25.7 million\u00a0as\u00a0of\u00a030\u00a0September\u00a02024<\/p>\n<\/li>\n<\/ul>\n<p class=\"yf-1pe5jgt\"><strong>Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF)<\/strong> confirms a significant copper-gold discovery, located approximately 30km south of the Company&#8217;s Costa Fuego Copper-Gold Project&#8217;s (&#8220;Costa Fuego&#8221; or &#8220;the Project&#8221;) planned central processing hub in the coastal range of the Atacama region, <span class=\"xn-location\">Chile<\/span>.<\/p>\n<p class=\"yf-1pe5jgt\">Assay results for the first two drill holes of a\u00a0<span class=\"xn-money\">4,000m<\/span> drill program being undertaken across the recently secured La Verde porphyry copper-gold target have returned a wide drilling intersection of <span class=\"xn-money\">202m<\/span>\u00a0grading 0.6% Cu, 0.3g\/t Au from\u00a0<span class=\"xn-money\">70m<\/span>\u00a0depth within a broader intersection of\u00a0<span class=\"xn-money\">308m<\/span>\u00a0grading 0.5% Cu and 0.3g\/t Au from\u00a0<span class=\"xn-money\">46m<\/span>\u00a0depth to end of hole.<\/p>\n<p class=\"yf-1pe5jgt\">La Verde is part of Hot Chili&#8217;s recent consolidation of the Domeyko landholding where the Company earlier executed the La Verde Option Agreement (see announcement dated 11<sup>th<\/sup> November 2024),\u00a0which\u00a0for\u00a0the\u00a0first time consolidated and provided access to drill test a large potential porphyry copper target footprint.<\/p>\n<p class=\"yf-1pe5jgt\">The historical La Verde open pit mine was previously exploited by private interests for shallow porphyry copper-style oxide mineralization with limited drill testing outside the central lease or to depth.<\/p>\n<p class=\"yf-1pe5jgt\">A total of twelve RC drill holes for approximately\u00a0<span class=\"xn-money\">3,150m<\/span> are complete with results returned for the first two Reverse Circulation (RC) holes of the first-pass drill program. The first two drill holes (DKP001 and DKP002) were designed to (1) validate historic drilling intercepts, and (2) test the interpreted northern extension of the porphyry from the previously exploited open pit, respectively.<\/p>\n<div class=\"read-more-wrapper\" data-testid=\"read-more\">\n<p class=\"yf-1pe5jgt\">Drill\u00a0hole\u00a0DKP001\u00a0was\u00a0successful\u00a0in\u00a0validating\u00a0the\u00a0most\u00a0notable copper\u00a0intercept\u00a0from\u00a0historic\u00a0exploration\u00a0drill results, returning a broad significant intersection containing multiple higher-grade zones:<\/p>\n<p class=\"yf-1pe5jgt\"><b>DKP001\u00a0returned 174m\u00a0grading\u00a00.4%\u00a0Cu,\u00a00.1g\/t Au\u00a0from 36m\u00a0depth<\/b><\/p>\n<ul class=\"yf-1woyvo2\">\n<li class=\"yf-1woyvo2\" style=\"list-style-type: none;\">\n<ul class=\"yf-1woyvo2\">\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\">including\u00a010m\u00a0grading 0.6%\u00a0Cu,\u00a00.1g\/t Au\u00a0from\u00a072m,\u00a0and<\/p>\n<\/li>\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\">including\u00a026m\u00a0grading 0.5%\u00a0Cu,\u00a00.1g\/t Au\u00a0from\u00a096m,\u00a0and<\/p>\n<\/li>\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\">including\u00a022m\u00a0grading 0.6%\u00a0Cu,\u00a00.2g\/t Au\u00a0from\u00a0144m<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"yf-1pe5jgt\"><b>Drill\u00a0hole\u00a0DKP002\u00a0was\u00a0located\u00a0approximately\u00a0120m\u00a0southeast\u00a0of\u00a0DKP001,\u00a0with\u00a0assay\u00a0results returning a drill intersection, that exceeded the Company&#8217;s expectations and suggests potential for a higher- grade copper-gold zone within the La Verde porphyry<\/b>:<\/p>\n<p class=\"yf-1pe5jgt\"><b>A\u00a0total\u00a0of\u00a0308m\u00a0grading\u00a00.5%\u00a0Cu,\u00a00.3\u00a0g\/t\u00a0Au\u00a0from\u00a046m\u00a0depth<\/b><\/p>\n<ul class=\"yf-1woyvo2\">\n<li class=\"yf-1woyvo2\" style=\"list-style-type: none;\">\n<ul class=\"yf-1woyvo2\">\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\"><b>including\u00a0202m\u00a0grading 0.6%\u00a0Cu,\u00a00.3\u00a0g\/t\u00a0Au\u00a0from\u00a070m depth,<\/b><\/p>\n<\/li>\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\"><b>which\u00a0includes\u00a0100m\u00a0grading\u00a00.7%\u00a0Cu,\u00a00.3\u00a0g\/t\u00a0Au\u00a0from\u00a0118m\u00a0depth<\/b><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"yf-1pe5jgt\">These consistent higher-grade results confirm the extension of the porphyry system almost\u00a0<span class=\"xn-money\">400m<\/span>\u00a0to the north-east of the open pit, a significant step out considering the existing pit measures approximately\u00a0<span class=\"xn-money\">200m<\/span>\u00a0x\u00a0<span class=\"xn-money\">400m<\/span>. The higher-grade mineralization is also located immediately beneath a gravel cover sequence which obscures the ultimate extent of the porphyry system. Oxide mineralization is associated with copper clays and chalcocite up to approximately 80m vertical depth from surface with the primary sulphide mineralization associated with chalcopyrite and pyrite.<\/p>\n<p class=\"yf-1pe5jgt\">Mineralization appears to be open in all directions and where the system remains under cover.<\/p>\n<p class=\"yf-1pe5jgt\">Assay results are pending for ten RC drill holes, for which visual logging confirmed porphyry-style mineralization associated with A- and B-type porphyry veining. Preliminary geological modelling indicates a +1% A + B vein footprint of ~850 m by ~700 m (refer to Figure 3a), based on detailed surface mapping and downhole logging.<\/p>\n<p class=\"yf-1pe5jgt\">The La Verde footprint is comparable to the +1% A + B vein footprint at Cuerpo 3 (<span class=\"xn-money\">1,000m<\/span>\u00a0by\u00a0<span class=\"xn-money\">750m<\/span>) at the Company&#8217;s Cortadera porphyry copper-gold deposit, located 30km to the north (refer to Figure\u00a0<span class=\"xn-money\">3b<\/span>).\u00a0Cuerpo 3 is the largest of Cortadera&#8217;s three porphyries, a cornerstone to Costa Fuego&#8217;s Indicated mineral resource base of 798Mt grading 0.45% CuEq for 3.6Mt Cu and 3.0Moz Au<sup>1<\/sup>\u00a0and Inferred<sup>2<\/sup>\u00a0mineral resource of\u00a0<span class=\"xn-chron\">203Mt<\/span>\u00a0grading 0.31% CuEq for 0.5Mt Cu and 0.4Moz Au.<\/p>\n<p class=\"yf-1pe5jgt\">The Company is particularly pleased with the high gold to copper ratio returned in drill hole DKP002 with additional results pending.<\/p>\n<p class=\"yf-1pe5jgt\">Hot Chili has expanded the first-pass RC drill program with an additional <span class=\"xn-money\">2,000m<\/span>\u00a0planned, now expected to be complete in late\u00a0<span class=\"xn-chron\">January 2025<\/span>.<\/p>\n<p class=\"yf-1pe5jgt\">Hot Chili has a strong balance sheet with\u00a0<span class=\"xn-money\">A$25.7 million<\/span>\u00a0in cash (as of\u00a0<span class=\"xn-chron\">30 September 2024<\/span>) and continues to advance two key development milestones planned for release in the first quarter of 2025 \u2013 Costa Fuego\u00a0PFS and Water Supply Business Case Study PFS.<\/p>\n<p class=\"yf-1pe5jgt\">The Company looks forward to providing further updates as additional drill results are returned and exploration drilling activities progress at La Verde.<\/p>\n<h4>Figure 1<\/h4>\n<figure id=\"attachment_30746\" aria-describedby=\"caption-attachment-30746\" style=\"width: 666px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-30746\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P.jpg\" alt=\"\" width=\"666\" height=\"511\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P.jpg 666w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-300x230.jpg 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-80x60.jpg 80w\" sizes=\"auto, (max-width: 666px) 100vw, 666px\" \/><figcaption id=\"caption-attachment-30746\" class=\"wp-caption-text\">Figure 1. Location of La Verde in relation to Costa Fuego, coastal range Chile (CNW Group\/Hot Chili Limited)<\/figcaption><\/figure>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-30744\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/hot-chili-table-1.png\" alt=\"\" width=\"1060\" height=\"943\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/hot-chili-table-1.png 1060w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/hot-chili-table-1-300x267.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/hot-chili-table-1-1024x911.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/hot-chili-table-1-768x683.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/hot-chili-table-1-696x619.png 696w\" sizes=\"auto, (max-width: 1060px) 100vw, 1060px\" \/><\/p>\n<h4>Figure 2<\/h4>\n<figure id=\"attachment_30745\" aria-describedby=\"caption-attachment-30745\" style=\"width: 699px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-30745\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-1.jpg\" alt=\"\" width=\"699\" height=\"600\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-1.jpg 699w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-1-300x258.jpg 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-1-696x597.jpg 696w\" sizes=\"auto, (max-width: 699px) 100vw, 699px\" \/><figcaption id=\"caption-attachment-30745\" class=\"wp-caption-text\">Figure 2. Plan view map of the La Verde porphyry system showing the significant intercepts of DKP001 and DKP002 compared to historic drill collars, open pit extent (white), in pit geological mapping, +1% A+B vein footprint from mapping and drillholes (blue) and logged copper mineralisation footprint from historic logging (yellow). (CNW Group\/Hot Chili Limited)<\/figcaption><\/figure>\n<h4>Figure 3<\/h4>\n<figure id=\"attachment_30747\" aria-describedby=\"caption-attachment-30747\" style=\"width: 813px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-30747\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-2.jpg\" alt=\"\" width=\"813\" height=\"385\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-2.jpg 813w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-2-300x142.jpg 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-2-768x364.jpg 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-2-696x330.jpg 696w\" sizes=\"auto, (max-width: 813px) 100vw, 813px\" \/><figcaption id=\"caption-attachment-30747\" class=\"wp-caption-text\">Figure 3a (Left) Plan view map of La Verde showing the +1% A+B vein footprint from mapping and drillholes (blue) and strong copper mineralisation footprint (light pink) relative to the copper mineralisation footprint from historic logging (yellow) with the recently acquired ground magnetic survey reduced to the pole (RTP).<br \/>Figure 3b (Right) Plan view map of Cuerpo 3 at Cortadera showing the +1% A+B vein footprint (from drillholes) relative to the +0.1% copper (yellow), +0.4% copper (light pink) and +0.6% copper (dark pink) interpolants with the ground magnetics survey reduced to the pole (RTP). Black arrows and distances indicate the length and width of +1% A+B vein footprints. (CNW Group\/Hot Chili Limited)<\/figcaption><\/figure>\n<h4>Mineral Resource Statement<\/h4>\n<figure id=\"attachment_30750\" aria-describedby=\"caption-attachment-30750\" style=\"width: 652px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-30750\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-3.jpg\" alt=\"\" width=\"652\" height=\"308\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-3.jpg 652w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2024\/12\/Hot_Chili_Limited_Hot_Chili_Intersects_Significant_Copper_Gold_P-3-300x142.jpg 300w\" sizes=\"auto, (max-width: 652px) 100vw, 652px\" \/><figcaption id=\"caption-attachment-30750\" class=\"wp-caption-text\">Mineral\u00a0Resource Statement &#8211; Costa Fuego Combined Mineral Resource (Effective Date 26th February 2024) (CNW Group\/Hot Chili Limited)<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) confirms a significant copper-gold discovery, located approximately 30km south of the Company&#8217;s Costa Fuego Copper-Gold Project&#8217;s (&#8220;Costa Fuego&#8221; or &#8220;the Project&#8221;) planned central processing hub in the coastal range of the Atacama region, Chile.<\/p>\n","protected":false},"author":30,"featured_media":27484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2430,56],"tags":[2471,2355,2382,2196,2459,2475,2449],"class_list":{"0":"post-30740","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-energy-transition-metals","8":"category-featured","9":"tag-copper-investing","10":"tag-hot-chili-limited","11":"tag-hot-chili-ltd","12":"tag-investing-in-copper","13":"tag-junior-copper-miners","14":"tag-small-cap-copper-stocks","15":"tag-small-cap-investing"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hot Chili Intersects Significant Copper-Gold Porphyry-style Mineralization at La Verde | Capital 10X<\/title>\n<meta name=\"description\" content=\"Hot Chili Limited (ASX: 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