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Hot Chili Ltd.
Summary
| Project: | Productora | |
|---|---|---|
| Deposit: | Cortadera | |
| Location: | Chile | |
| Commodities: | Gold-Copper-Silver-Molybdenum | |
| Date: | 6/20/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-6-2019: Hot Chili Ltd. announces an Exploration/Drilling Update report for its Cortadera deposit at the Productora project. Drilling results incl. 622m @ 0.6% Cu, 0.2g/t Au, 1.2ppm Ag, 79ppm Mo from 204m. Hot Chili Limited (ASX code HCH) (“Hot Chili” o | |
| Resources: | (Reserve, Prob.): 166.9Mt @ 0.43% Cu, 0.09g/t Au, 138ppm Mo at Productora | |
| CP/QP: | [Overall Report]: Christian Easterday (Internal) | |
| ABSTRACT: | Hot Chili Limited (ASX code HCH) (“Hot Chili” or “Company”) is pleased to confirm that it has recorded the best drilling intersection in the Company’s history and the best result to date at its Cortadera copper project in Chile. The result in CRP0013D is comparable to some of SolGold’s (TSX/LSE: SOLG) early discovery drill results, which outlined the beginnings of a bulk tonnage, high grade zone at depth on its world-class Cascabel copper-gold deposit in Ecuador. Hot Chili’s Managing Director Christian Easterday said the assay results from Hot Chili’s first two diamond holes have transformed the Company’s view of Cortadera, opening up large possibilities. “We have achieved one of the worlds standout copper-gold porphyry drill intersections at Cortadera; one that is comparable to some of the best discovery drill results of recent times. “At an average grade of 0.9% copper and 0.4 g/t gold, the new high grade zone currently has a vertical extent of approximately 190m. “What is really exciting is that this new high grade zone is completely open in all directions at depth, and is similar in combined average grade and depth to SolGold’s high grade zone at its world-class Cascabel discovery in Ecuador. “The result in CRP0013D demonstrates that Cortadera has the potential to become a company-maker in its own right and looks set to take centre stage ahead of our Productora project, located 14km away. “We are now pausing our drilling activities while we await remaining assay results for CRP0013D, and plan the next steps towards commencement of a second phase of drilling and a preliminary resource estimation at Cortadera” Easterday said. | |
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