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Hot Chili Ltd.
Summary
| Project: | Productora | |
|---|---|---|
| Deposit: | Cortadera | |
| Location: | Chile | |
| Commodities: | Gold-Copper-Silver-Molybdenum | |
| Date: | 12/19/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-12-2019: Hot Chili Ltd. announces an Exploration/Drilling Update report for its Cortadera deposit at the Productora project. Drilling results incl. 80m @ 0.8% Cu, 0.3g/t Au, 3.8ppm Ag, 1ppm Mo from 0m. Hot Chili Limited (ASX code HCH) (“Hot Chili” or “ | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Christian Easterday (Internal) | |
| ABSTRACT: | Hot Chili Limited (ASX code HCH) (“Hot Chili” or “Company”) is pleased to announce that new drill results are outlining a second large source of bulk tonnage, high grade copper and gold at the Cortadera porphyry discovery in Chile. Drilling is continuing to grow the discovery, but importantly is providing strong encouragement for both open pit and underground, high grade, development options. Over the past three weeks, in parallel with diamond drilling activities, a second drill rig has been testing the extent of shallow chalcocite enrichment zones across three of Cortadera's four porphyry centres discovered to date. Thirteen shallow Reverse Circulation (RC) drill holes (average depth of 130m) have been completed so far, with results returned for seven holes and results pending for six holes. Results returned from RC drilling across Cuerpo 2 (the second largest porphyry at Cortadera) have confirmed and extended a bulk tonnage zone of high grade copper and gold from surface. The new drill result from CRP0021 remains open along strike to the east and recorded 80m grading 0.8% copper and 0.3g/t gold from surface, including a high grade chalcocite zone of 26m grading 1.7% copper and 0.7g/t gold from a down-hole depth of 54m. High grade zones related to chalcocite enrichment have been drill confirmed at Cuerpo 1, 2 and 4, from surface and from shallow depth, with drill intersection copper grades ranging between 0.7% - 1.6% and gold grades ranging between 0.3 - 0.7g/t. | |
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