Hot Chili (ASX:HCH) continues to pull very intriguing drill results out of the ground on its Cortadera project in Chile. The main zone (Cuerpo 3) hosts what appears to be a sizeable copper-gold porphyry system and the headline result of 622 meter (which was later upgraded to 750 meters after receiving additional assay results from the lab) actually contains a higher grade zone of 188 meters of 0.9% copper and 0.4 g/t gold. Although this higher-grade interval starts quite deep (at a depth of 516 meters), the grade appears to be juicy enough and the mineralization thick enough to consider a block-cave mining model.
Perhaps even more intriguing is the fact the hole ended in porphyry mineralization at a depth of almost 1,200 meters (due to the technical issues) while a second hole (12D, which encountered 200 meters at 0.4% copper and 0.2 g/t gold from a depth of almost 400 meters) has now expanded the footprint a few hundred meters north to the currently known mineralized body. With a strike length of 600 meters and width of 220 meters, Hot Chili can now start to focus on expanding the mineralized zones both at depth and along strike. Hot Chili’s managing director has actually compared the Cortadera project with the Cascabel copper-gold porphyry in Ecuador, currently owned by SolGold (LON:SOLG).
Go to Hot Chili’s website
The author has no position in Hot Chili but is intrigued. Please read the disclaimer
