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Hot Chili Ltd.
Summary
| Project: | Productora | |
|---|---|---|
| Deposit: | Cortadera | |
| Location: | Chile | |
| Commodities: | Gold-Copper-Silver-Molybdenum | |
| Date: | 2/7/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-2-2020: Hot Chili Ltd. announces an Exploration/Drilling Update report for its Cortadera deposit at the Productora project. Drilling results incl. 92m @ 0.5% Cu, 0.2g/t Au, 0.9ppm Ag, 96ppm Mo from 648m. 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 its view on the growth potential of the Cortadera copper-gold porphyry discovery in Chile has lifted significantly following compilation and modelling of its 2019 drilling campaign. Company estimates of Cortadera's potential resource size have now more than doubled since the announcement of a deal to acquire the privately-held major porphyry discovery in February of 2019. Importantly, modelling highlights that the discovery zone alone has clear potential to grow towards a Tier 1 classification (+5Mt contained copper) with the largest porphyries open in all key directions as displayed in Figure 1 below. Expansion diamond drilling is well underway for 2020, aimed at facilitating a much larger first resource estimate than originally planned at Cortadera. Cortadera is considered a premier discovery that looks set to position Hot Chili in 2020 with one of the largest copper-gold inventories in the hands of a junior listed company globally. | |
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