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Hot Chili Ltd.
Summary
| Project: | Productora | |
|---|---|---|
| Deposit: | San Antonio | |
| Location: | Chile | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 9/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-9-2018: Hot Chili Ltd. announces an Exploration/Drilling Update report for its San Antonio deposit at the Productora project. Drilling results incl. 12m @ 1.5% Cu, 5g/t Ag from 28.0m. Hot Chili (ASX code HCH) (“Hot Chili” or “Company”) is pleased to ann | |
| Resources: | (Reserve, Prob.): 166.9Mt @ 0.435 Cu, 0.09g/t Au, 138ppm Mo at Productora | |
| CP/QP: | [Overall Report]: Christian Easterday (Internal) | |
| ABSTRACT: | Hot Chili (ASX code HCH) (“Hot Chili” or “Company”) is pleased to announce that its strategy to confirm and define multiple high grade copper resource opportunities close to its flagship Productora copper project in Chile is gathering momentum. Valentina is the second high grade copper mine to deliver successful extensional results from the Company’s recent first-pass 5,000m drilling programme across its new El Fuego copper project in Chile. Results to date have already confirmed a large extensional discovery at the San Antonio copper mine, located approximately 5km south of Valentina. These new results provide further confidence in Hot Chili’s ability to build a stable of high grade additions to Productora. Follow-up and resource definition drill planning is being finalised ahead of submission of regulatory applications to drill. Hot Chili’s recently completed 5,000m Reverse Circulation (RC) drilling programme primarily focussed on assessing the potential of the San Antonio copper mine area. However, three shallow drill holes were also completed across the southern extent of the shallowly developed Valentina copper mine, located 5km north of San Antonio as shown in Figure 1. Two of these holes have recorded significant drilling intersections including: • 12m grading 1.5% copper from 28m down-hole depth (including 6m grading 2.7% copper), and • 8m grading 2.0% copper from 124m down-hole depth (including 2m grading 4.8% copper). Importantly, the drill holes were located immediately south of the Valentina underground development and have successfully confirmed significant strike and depth extensional potential to high grade copper mineralisation. | |
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