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Hot Chili Ltd.
Summary
| Project: | Productora | |
|---|---|---|
| Deposit: | Cortadera | |
| Location: | Chile | |
| Commodities: | Gold-Copper-Silver-Molybdenum | |
| Date: | 10/30/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-10-2019: Hot Chili Ltd. announces an Exploration/Drilling Update report for its Cortadera deposit at the Productora project. Drilling results incl. 264m @ 0.4% Cu, 0.2g/t Au, 0.5ppm Ag, 18ppm Mo from 56m. Hot Chili Limited (ASX code HCH) (“Hot Chili” o | |
| 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 deliver further strong results from the third diamond drill hole of the Company's phase 2 drill programme at the Cortadera copper-gold porphyry discovery, located along the Chilean coastal range, 600km north of Santiago. Initial drilling has focussed on the definition of a recently discovered high grade core to Cuerpo 3, the largest of the four porphyry centres discovered to date at Cortadera. New results from diamond (DD) drill hole CRP0018D have continued to confirm strong grade continuity across the high grade zone, recording a significant intercept of 82m grading 0.8% copper and 0.4g/t gold within a broader result of 150m grading 0.6% copper and 0.3g/t gold from 434m down-hole depth. In addition, CRP0018D recorded a wide shallow drilling intersection from 52m down-hole depth comprising 264m grading 0.4% copper and 0.2g/t gold. Approximately 250m to the southwest of CRP0018D, DD drill hole CRP0020D has recorded a wide intersection of mineralised and strongly mineralised porphyry from surface over a down-hole width of 313m so far. These results, in addition to pending results from CRP0019D, confirm mineralised porphyry extends from shallow depths across a large extent of the main porphyry which had not previously been drill tested. Confirmation of large up-dip extensions to Cuerpo 3 adds significantly to the open pit growth potential of Cortadera - a key focus for Hot Chili that significantly de-risks any potential future, higher grade, underground development opportunity at Cortadera. | |
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