Hot Chili (ASX:HCH), the ASX-listed copper explorer in Chile, has confirmed a recent mapping program conducted south of the San Antonio copper mine in Chile has returned anomalous copper values, and the company was able to outline some high-priority exploration targets. It discovered a large copper trend on the eastern flank of the San Antonio mine, and scratching the surface has unveiled the potential for an interesting copper oxide zone.
The company immediately started a shallow RC drill program (the first 18 holes of the 5,000 meter drill program reached an average depth of just 125 meters) and the company must have liked the initial visuals, as it rushed some of the samples to the lab.
This was the right strategy as the first assay results returned 15 meters at 1.7% copper, 19 meter at 2% copper, but an additional batch of drill results which were released in August confirmed even wider intervals including 53 meters at 0.9% copper. This confirmed the strike length of the copper mineralization for over 700 meters, and could indicate the current 2 million tonne resource at San Antonio could easily be expanded, and provide an excellent source of copper-bearing material to blend with the lower grade Productora copper project, just a few dozen kilometers away.
The mineralization at San Antonio appears to be dipping, so it will be interesting to see how the next steps of the drill program at San Antonio.
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