Special Report: Hot Chili has further extended the high grade core at the main Cuerpo 3 porphyry and is preparing for the next growth phase at the Cortadera project in Chile.
A new 300m diamond tail extension returned a result of 190m grading 0.6 per cent copper and 0.2 grams per tonne (g/t) gold from a depth of 392m confirms the continuity of the high-grade core at Cuerpo 3 over a near 800m vertical extent.
Hot Chili (ASX:HCH) notes that the core remains open for growth in several key areas and that the latest result will not be included in the upcoming maiden resource estimate for Cortadera.
Adding more interest, even a hole that was abandoned due to significant deviation from its intended target has provided further support to the company’s exploration efforts. The CRP0042D hole that was abandoned at a depth of 952m returned a result of 314m grading 0.4 per cent coper and 0.1g/t gold from 616m, providing further definition to the southern flank of the main porphyry.
The next phase of copper-gold growth at Cortadera
While the continued extension of the high-grade core at Cuerpo 3 is exciting stuff, Hot Chili is looking to heat things up further at Cortadera with drilling at other high-impact porphyry targets.
Multiple reverse circulation pre-collars are being drilled to facilitate diamond drilling at the Cuerpo 2, Cuerpo 3 North and Cortadera North targets.
This program will begin with diamond drilling at Cuerpo 2, the second largest porphyry at Cortadera that has the potential to host another high-grade core.
Clearing is also underway to provide road access to the 2km-long Cortadera North target, which has ‘look-alike’ potential for a second large porphyry discovery about 2km north of Cortadera, for first drill testing within the coming months.
Hot Chili has been carrying out infill mapping and soil geochemistry across this target area in the lead up to finalising first-pass drill design.
Once this growth target drilling is completed, the company will resume its resource expansion program with a further six holes to be completed for inclusion into a second resource estimate for Cortadera in early 2021.
This story was developed in collaboration with Hot Chili, a Stockhead advertiser at the time of publishing.
This story 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.