Hot Chili Reports Significant Copper-Gold Intersection at La Verde Prospect, Chile
Hot Chili has reported a 391.1-meter drill intersection grading 0.51% copper equivalent at La Verde, supporting its potential as a high-grade starter pit for the Costa Fuego project. The company's aggressive exploration program includes 22 drill holes awaiting results, which may further enhance the project's viability.
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Hot Chili has identified a substantial copper-gold intersection at its La Verde prospect, registering a 391.1-meter drill hole grading 0.51% copper equivalent. This result indicates the potential for La Verde to serve as a high-grade starter pit for the adjacent Costa Fuego project.
Previous drilling revealed a 725-meter interval grading 0.42% copper equivalent, confirming continuity of mineralization. Additional assays from two other drill holes also expanded the mineralization, with one hole extending the high-grade core by 96.4 meters grading 0.40% copper equivalent.
A pre-feasibility study for Costa Fuego projected a post-tax NPV of US$1.2 billion based on lower copper prices, while current prices exceed this projection, enhancing economic feasibility. Hot Chili's ongoing exploration includes 22 pending assay results, with a focus on a hole showing strong copper mineralization. A second laboratory has been engaged to expedite assay results, with a maiden mineral resource expected by late 2026.
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