Momentum building ahead of “standout drill results” expected at HCH’s Cortadera

By Meagan Evans. Published at Feb 19, 2020, in Mining

Hot Chili Limited (ASX:HCH) reports that momentum is building ahead of first results from the company's 2020 drilling program at its Cortadera copper-gold porphyry discovery in Chile.

Cortadera is a major copper-gold porphyry discovery located 600km north of Santiago along the Chilean coastal range, where historical world-class discovery drill results were only publicly released by Hot Chili in February 2019. The project lies 14km from the Company’s large-scale Productora copper development and adjacent to the high grade El Fuego satellite copper projects.

Productora and the Cortadera discovery in relation to the consolidation of new growth projects and coastal range infrastructure
Productora and the Cortadera discovery in relation to the consolidation of new growth projects and coastal range infrastructure

Hot Chili’s first diamond drill hole of the year (CRP0040D) has intersected approximately 550m of mineralised and strongly mineralised porphyry so far.

The drill hole is currently at 900m depth in strongly mineralised porphyry. It is being extended to 1,100m at this stage with core sampling and assay turnaround being prioritised. The hole is a 100m step-out drill hole to test the southern extension of Cortadera's largest porphyry - Cuerpo 3.

Another standout extensional drill result is expected, demonstrating that Cortadera remains wide open and is continuing to grow at a rapid rate.

Plan view of Cuerpo 3 - the Main porphyry of the four porphyry centres discovered to date at Cortadera.
Plan view of Cuerpo 3 - the Main porphyry of the four porphyry centres discovered to date at Cortadera.

The above plan displays the location of significant new results released for CRP0032D, CRP0029D, CRP0020D, CRP0018D, CRP0019D, CRP0017D, CRP0011D and CRP0013D.

Note the growing extent of the modelled higher grade copper zone (red wireframe - +0.4% Cu) and the location of open boundaries for growth of the bulk copper envelope at Cortadera (yellow wireframe - +0.2% Cu).

A second drill rig has commenced a program of six deep Reverse Circulation (RC) drill holes across the exciting Cuerpo 3 North target, located approximately 500m north of Cuerpo 3.

The target was identified as a strong coincident IP/MT geophysical anomaly located at depth within the same N-S corridor of dykes which control the location of the Cuerpo 3 porphyry.

The target has not previously been drill tested and represents the first drilling by Hot Chili outside of the Cortadera discovery zone since commencement of drilling activities in April last year. The first RC drill hole (CRP0041) is currently at a depth of approximately 360m down-hole and is expected to be complete within the coming day.

Hot Chili intends to complete all remaining five RC drill holes at Cuerpo 3 North over the coming weeks before selecting several holes for extension with diamond drill tails. The company is excited to be undertaking its expansion and step-out drilling program at Cortadera and looks forward to providing further updates and drill results as they become available over the coming weeks and months ahead.

Plan view across the Cortadera discovery area displaying significant historical copper-gold DD intersections across Cuerpo 1, 2 and 3 tonalitic porphyry intrusive centres (represented by modelled copper envelopes, yellow - +0.2% Cu and red +0.4% Cu).

Note the location of the inset plan area for Cuerpo3 associated with the following figures. Selected historical significant intersections (white), Selected HCH significant intersections (red) and HCH record significant intersection (magenta).

S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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