Including 64,000 Tons Molybdenum, Chile's Cortadera Copper Mine Announces Resources

Including 64,000 tons of molybdenum, Hot Chile announced the total resources of its Costa Fuego project in Chile. The project includes three deposits in Cortadera copper mine, Productora mine and San Antonio mine.

At present, the total ore resources of the entire project are 724 million tons, and the copper equivalent grade is 0.48%, which contains 2.9 million tons of copper, 2.7 million ounces of gold, 9.9 million ounces of silver, and 64,000 tons of molybdenum.

Among them, the Cortadera copper mine is the first announced resource. The ore resource of the mine is 451 million tons, and the copper equivalent grade is 0.46%. The company believes that the acquisition of the Cortadera copper mine resources is an important achievement, because the project was only acquired in February last year.

Hot Chili has partnered with a company that is owned by the Chilean Government- ENAMI. The partnership will allow 120,000 tonnes per annum of ore to be mined and process at its Productora deposit. The main asset of the company is Cortadora and its adjacent projects, San Antonio and Productora.

Christian Easterday, Managing Director, shares with us the latest metallurgical results released by the company. The outcome of the test has shown that the trio of projects, Productora, Cortadera and San Antonio can be treated as one ore type. This means that the processing of the ore can be done in one facility which will allow the savings in treating the ore.

The next phase of the company will be the release of the JORC resource which should cement Hot Chili as a viable copper producer with a Tier 1 project. The fact that Hot Chili is not a major miner and is holding a project in the first quartile of the best projects in the world is significant.

The Cortadera copper mine is only 14 kilometers away from the Productora copper mine newly constructed by Hot Chile. Contains a large amount of molybdenum as well, Hot Chile believes that the Cortadera copper mine is one of the two largest copper mines in the world discovered since 2016, comparable to Rio Tinto's Winu. The Cortadera mine is undergoing an internal outline study, and Hot Chile will consider the feasibility of joint development with the other two copper mines.

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