Special Report: Hot Chill has bulked up its Cortadera North drilling program after infill mapping identified significant zones of outcropping copper oxides and copper-bearing veins.
The company is now planning to drill nine deep reverse circulation (RC) holes across the 2km long target zone.
Hot Chili (ASX:HCH) says road clearing to provide access is expected to be completed in the coming ten days following which it will commence platform construction of prioritised locations for first drill testing.
It added that drilling at its flagship Cortadera project has been accelerated by the addition of a second drill rig.
Drilling is currently focused on testing for the presence of another high-grade core below the Cuerpo 2 porphyry and the potential for a major extension to the main Cuerpo 3 porphyry.
Maiden copper-gold resource on the horizon
Hot Chili also noted rigorous cataloguing and assessment of historical drill assay certification has pushed out the timeframe for the Cortadera maiden resource.
However, retrieving this information from laboratories in Chile is expected to ensure a very robust resource estimation by using all historical diamond drilling.
The maiden resource is expected to be announced once the final estimation is completed and approved by the company’s resource audit committee in the coming weeks.
Perth-based broker Argonaut Securities recently estimated that the project has the potential to host a maiden 500 million tonne (Mt) resource.
This article was developed in collaboration with Hot Chili, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.