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Hot Chili Ltd.
Summary
| Project: | Productora | |
|---|---|---|
| Deposit: | Cortadera | |
| Location: | Chile | |
| Commodities: | Gold-Copper-Silver-Molybdenum | |
| Date: | 1/20/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-1-2020: Hot Chili Ltd. announces an Exploration/Drilling Update report for its Cortadera deposit at the Productora project. Drilling results incl. 649m @ 0.4% Cu, 0.1g/t Au, 0.8ppm Ag, 101ppm Mo from 330m. Hot Chili Limited (ASX code HCH) (“Hot Chili” | |
| 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 it has recorded another exceptionally wide drilling intersection from its Cortadera copper-gold porphyry discovery in Chile. The new result from Diamond (DD) drill hole CRP0029D recorded a 649m intersection grading 0.4% copper and 0.1g/t gold from 330m depth down-hole, which included a 440m wide zone grading 0.5% copper and 0.2g/t gold. The 649m intersection is Hot Chili's fifth record drill result from Cortadera in the past five months. Importantly, CRP0029D ended in mineralised porphyry and has confirmed a significant 70m extension of significant mineralisation along the northern contact of the largest porphyry discovered to date at Cortadera -Cuerpo 3. Given the northern contact of Cuerpo 3 is approximately 200m in width and still remains open, the extensional result is considered a very significant addition to the continued growth of the Cortadera discovery. CRP0029D is the first of eight diamond holes planned to expand the size of the existing discovery, a key focus for Hot Chili in advance of completing a first resource estimate for Cortadera within the first half of 2020. The Company's second expansion DD hole (CRP0032D) was terminated at a depth of 739m prior to Christmas, owing to significant deviation from its target. A replacement DD drill hole is planned to commence in the coming days. | |
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