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Hot Chili Ltd.
Summary
| Project: | Productora | |
|---|---|---|
| Deposit: | Sierra Zapallo | |
| Location: | Chile | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 8/12/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-8-2016: Hot Chili Ltd. announces an Exploration/Drilling Update report for its Sierra Zapallo deposit at the Productora project. Re-assay of pulp samples from past drilling, results incl. 4m @ 8.3g/t Au from 168m. Hot Chili Limited (ASX Code: HCH) (“Ho | |
| Resources: | (Reserve, Prob.): 166.9Mt @ 0.43% Cu, 0.09g/t Au, 138ppm Mo at open-pit | |
| CP/QP: | [Overall Report]: Christian Easterday (Internal) | |
| ABSTRACT: | Hot Chili Limited (ASX Code: HCH) (“Hot Chili” or the “Company”) is pleased to announce the first results from the exploration surface sampling and mapping program currently underway at the Sierra Zapallo high grade gold project, located in the southern extent of the Company's flagship Productora copper-gold project in Chile. In addition, re-analysis of pulp samples from Hot Chili's 2012 copperfocussed drilling programme at Sierra Zapallo have confirmed further significant gold drilling intersections. The potential gold endowment at Sierra Zapallo is considered large, given the deposit already boasts thirteen strike extensive gold reefs, each 300 to 400m in length as exposed in small-scale workings from surface. The addition of a potential high-grade gold resource at Productora (with Mineral Resources already standing at approximately 1.5Mt copper and 1Moz gold) provides an exciting near-term development opportunity for Hot Chili. Sierra Zapallo benefits greatly from the significant infrastructure and access rights already in-place for the larger and more advanced Productora copper-gold project which is also being advanced through the final stages of growth and development ahead of a planned decision to mine in the coming two years. Hot Chili have commenced preparation of required regulatory applications toward the commencement of a planned drilling programme at Sierra Zapallo. | |
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