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Hot Chili Ltd.
Summary
| Project: | Productora | |
|---|---|---|
| Deposit: | Cortadera | |
| Location: | Chile | |
| Commodities: | Gold-Copper-Silver-Molybdenum | |
| Date: | 7/5/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-7-2019: Hot Chili Ltd. announces an Exploration/Drilling Update report for its Cortadera deposit at the Productora project. Drilling results incl. 750m @ 0.6% Cu, 0.2g/t Au, 1.1ppm Ag, 79ppm Mo from 204m. Hot Chili Limited (ASX code HCH) (“Hot Chili” or | |
| 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 it has further extended the best drilling intersection in the Company’s history at its Cortadera copper-gold project, located along the Chilean coastal range. Final assay results for CRP0013D have increased the width from an initial 622m significant intersection to an even more impressive 750m. Importantly, the same standout bulk grade of 0.6% copper and 0.2g/t gold has been maintained over the entire 750m drill intersection. The result returned from CRP0013D has outlined the beginnings of a bulk tonnage, high grade zone at depth at Cortadera, materially changing the potential scale and pedigree of the Cortadera copper-gold porphyry discovery. Hot Chili has now received all assay results for its first phase of drilling at the Cortadera coppergold discovery in Chile. Final assay results for the remaining 359.9m of diamond hole CRP0013D have expanded the initial significant intersection by a further 128m down-hole, extending the standout result to 750m grading 0.6% copper and 0.2g/t gold from 204m downhole depth. The new high grade bulk tonnage zone discovered in diamond hole CRP0013D remains unchanged, comprising 188m grading 0.9% copper and 0.4g/t gold from 516m down-hole depth (which includes 100m grading 1.0% copper and 0.5g/t gold from 530m down-hole depth). Hot Chili’s team are busy compiling numerous historical and new datasets at Cortadera to facilitate various geological models aimed at refining the Company’s approach to drill design for a planned second phase of diamond (DD) and reverse circulation (RC) drilling. In addition, Hot Chili confirms that it has engaged independent consultant AMC to prepare an initial Mineral Resource estimate for Cortadera. Various resource and QA/QC work streams have been underway for several months in preparation for an initial Mineral Resource to be estimated at Cortadera with high degree of rigour and confidence. | |
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