Hot Chili (HCH.AX, HCH.V) has released an updated resource calculation on its Costa Fuego copper project in Chile. The total mineral resource currently stands at almost 800 million tonnes in the indicated resource category at an average grade of 0.45% CuEq while there is an additional 203 million tonnes in the inferred resource category at an average grade of 0.31% CuEq for a combined total of just over 1 billion tonnes which include approximately 7.5 billion pounds of copper, 3 million ouncs of gold and just over 150 million pounds of molybdenum.
There is a higher grade component which contains 173 million tonnes at an average grade of 0.78% CuEq for almost 2.5 billion pound of copper, 1 million ounces of gold and about 55 million pounds of molybdenum.
Disclosure: The author has no position in Hot Chili. Please read the disclaimer.
