Hot Chili Scores Molybdenum in South American Copper Probe

South America focused miner Hot Chili has made another significant batch of results from development drilling studies on its Cortadera porphyry discovery, exploring for precious metals such as copper, gold, and molybdenum. The discovery is part of its Costa Fuego copper development project in Chile and noteworthy data includes a 658-meter long copper equivalent interval, including a 130-meter interval from 232 meters deep at 0.9% copper equivalent.

The over 600-meter section contains a variety of precious metals including 0.4% copper, 0.2 grams per tonne gold, and molybdenum per million; it also includes 134 meters of copper equivalent at 0.6% copper, 0.2 grams per tonne gold, and molybdenum per million grading 0.8% over 470 meters.

According to the company, the campaign also intersected a 30-meter zone at 1.4% copper equivalent over 690 meters outside of its current high-grade resource model, suggesting it may have discovered additional mineralization at Cortadera. Hot Chili's latest results follow two drilling campaigns that validated the growth potential of its high-grade core zone.

These data include an interval of 552 meters from 276 meters at 0.6% copper equivalent in one hole, with a portion of 248 meters at 0.8% copper equivalent, and another hole showing an interval of 876 meters from 246 meters at 0.5% copper equivalent, with a portion of 206 meters at 0.9% copper equivalent.

Results from all three holes confirm the extension of the high-grade core zone, pending a pre-feasibility study and resource upgrade at Costa Fuego, which is earmarked for later this year.

According to Hot Chili, its infill drilling program at Cortadera has enabled it to obtain critical geotechnical and hydrogeological data, while also identifying and expanding its high-grade copper resources.

The company says its new results, particularly those in grades between 0.8% and 1.0% copper equivalent, could solidify Costa Fuego as one of only a few low-altitude material copper projects with near-term development opportunities. hot Chili believes the grades and scale of the operation could help propel it to new heights.

Hot Chili is also conducting resource expansion activities at the San Antonio and Valentina high-grade copper deposits, located approximately 5 kilometers northeast of Cortadera. The company says high-grade copper-gold mineralization remains accessible at depth and along strike at both occurrences.

The company will drill 10 exploration wells at Valentina and plans to drill six more exploration wells at San Antonio. The inferred resource is 4.2 million tonnes at 1.2% copper equivalent. The grade consists of 1.1% copper and 2.1 g/t silver, containing 48,000 tonnes of copper and 287,000 tonnes of silver.

Including exploration results for copper, gold, and molybdenum, these two high-grade discoveries are expected to be included in Costa Fuego's next resource update, which, together with the delivery of a pre-feasibility study, is expected to be launched later this year.

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