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Hot Chili Ltd.
Summary
| Project: | Productora | |
|---|---|---|
| Deposit: | San Antonio | |
| Location: | Chile | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 7/18/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-7-2018: Hot Chili Ltd. announces an Exploration/Drilling Update report for its San Antonio deposit at the Productora project. Drilling results incl. 19.0m @ 2.0% Cu, 4.3g/t Ag from 61m. Hot Chili Limited (ASX code HCH) (“Hot Chili” or “Company”) is ple | |
| Resources: | (Reserve, Prob.): 166.9Mt @ 0.435 Cu, 0.09g/t Au, 138ppm Mo at Productora | |
| CP/QP: | [Resources]: N Ingvar Kirchner, J Lachlan Macdonald (AMC Consultants Pty Ltd.;Internal) | |
| ABSTRACT: | Hot Chili Limited (ASX code HCH) (“Hot Chili” or “Company”) is pleased to announce the receipt of several strong results from initial drilling undertaken at the San Antonio copper mine in Chile. Hot Chili is also pleased to announce that wide zones of strong copper sulphide mineralisation (chalcopyrite) have been visually confirmed in a further ten drill holes for which assay results are pending. Importantly, drilling has successfully outlined major extensions to San Antonio and highlighted the potential for definition of a substantial, shallow, high grade copper resource over a strike length of at least 700m. San Antonio has reportedly produced approximately 2M tonnes grading 2% copper and 0.3g/t gold and 17g/t silver from shallow depths since mining commenced in 1964. Prior to Hot Chili’s four-year Option agreement executed in November 2017 (see ASX announcement dated 8th November 2017), the mine had seen little modern exploration owing to its private ownership for over 50 years. Following nine months of systematic exploration by Hot Chili, a maiden RC drilling programme was initiated (in early June this year) to test for potential extensions to high grade copper mineralisation within the mine area. The drilling programme is now finalised. A total of 39 Reverse Circulation (RC) drill holes for approximately 4,600m have been completed, with the Company having received assay results for 16 holes so far. | |
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