Hot Chili’s copper gold project growing faster than expected
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Copper gold explorer Hot Chili announced this morning that its Cortadera Project remains open and is growing at a faster rate than expected.
This backs the company’s belief that Cortadera is a premier discovery that could position Hot Chili with one of the largest copper-gold inventories in the hands of a junior listed company globally.
It already stacks up well against its peers:
HCH is expecting an eventful 2020.
Hot Chile estimates that its Chilean-based project has more than doubled in resource size, since it first announced the acquisition of the privately-held major porphyry discovery in February of 2019.
The $49.9 million capped Hot Chile arrived at these conclusions following extensive compilation and modelling of its 2019 drilling campaign. Final drill results from HCH’s 2019 drilling campaign have been compiled and incorporated into a revised 4-Dimensional (4D) model.
A significant highlight of the recent modelling is the discovery zone alone has clear potential to grow towards a Tier 1 classification (+5Mt contained copper) with the largest porphyries open in all key directions as shown below.
Whilst Hot Chili experienced a great deal of drilling success in 2019, it was further encouraged by an unexpected result that confirms the strength of the project.
The previously abandoned CRP0032D diamond drill hole, recorded a strong end-of-hole result of 92m grading 0.5% copper and 0.2 grams per tonne (g/t) gold from a 648m depth, ending in mineralised porphyry.
This hole lies along the northern extent of the largest porphyry of the Cortadera discovery – Cuerpo 3.
The result from CRP0032D was complemented by the remaining results from the shallow Reverse Circulation (RC) drilling which included the high grade result of 20m grading 1.0% copper and 0.2% gold from 102m depth.
The shallow drill programme was directed across potential enrichments zones above three of Cortadera's four porphyries (Cuerpo 1, 2 and 4).
Drill hole CRP0040D, HCH’s third expansion hole, is currently at a depth of approximately 360m down-hole and is planned to extend to approximately 1,000m depth.
Importantly, this hole is designed to test the southern extension to Cuerpo 3, approximately 100m away from the company’s previous result in CRP0017D, which recorded 596m grading 0.5% copper and 0.2g/t gold from 328m down-hole depth (including 184m grading 0.7% copper and 0.3g/t gold).
RC drill testing of two large growth targets (Cuerpo 3 North and then Cortadera North) will begin shortly after minor delays in completion of access clearing. Hot Chili also plans to start the first of 6 deep RC drill holes at Cuerpo 3 North in the coming days.
The company expects to receive further good news as first results from CRP0040D begin to flow through in the coming weeks.
Furthermore, expansion diamond drilling is well underway for 2020, aimed at facilitating a much larger first resource estimate than originally planned at Cortadera.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.