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Hot Chili Ltd.
Summary
| Project: | Productora | |
|---|---|---|
| Deposit: | Alice | |
| Location: | Chile | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 4/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-4-2017: Hot Chili Ltd. announces an Exploration/Drilling Update report for its Alice deposit at the Productora project. Drilling results incl. 64m @ 0.5% Cu, 0.1g/t Au, 185ppm Mo from 200m. Reconnaissance RC drilling being undertaken by Hot Chili Limit | |
| Resources: | (Reserve, Prob.): 166.9Mt @ 0.43% Cu, 0.09g/t Au, 138ppm Mo at Productora | |
| CP/QP: | [Overall Report]: Christian Easterday (Internal) | |
| ABSTRACT: | Reconnaissance RC drilling being undertaken by Hot Chili Limited (ASX code: HCH) ("Hot Chili") has delivered a significant intersection below the Alice porphyry copper resource at the Company's Productora copper project in Chile. The result confirms extensional growth potential at Alice and provides some important implications for the current drilling campaign, which is advancing across several large porphyry copper targets. Drilling is set to be boosted with the commencement of a diamond drilling programme at Productora. While information from the reconnaissance RC drilling programme is preliminary, the Company and Blue Spec are encouraged with early results from the porphyry copper targets being tested. Drilling has provided key lithological and alteration information, crucial for vectoring and refinement of drill targets located below the large-scale porphyry copper lithocap at Productora (Figure 1). Blue Spec have informed Hot Chili that they are prepared to undertake a diamond drilling programme under the same arrangement as the reconnaissance RC drilling programme- at their own risk and at no cost to Hot Chili. Preparations are already underway in advance of the commencement of the diamond drilling programme. First assays from Hot Chili's reconnaissance RC drilling programme at the Productora copper project have returned a significant intersection of 64m grading 0.5% copper, 0.1g/t gold and 185 ppm molybdenum from 200m down-hole depth. The significant drilling intersection was recorded from an extension of a previous drill hole (PRP0930) at the Alice porphyry copper resource which had ended in mineralisation at 200m depth. | |
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