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Highlights:
- Significant Intersection: First two holes at La Verde show 202 metres at 0.6% copper and 0.3 g/t gold from 70 metres depth, within a broader 308-metre zone grading 0.5% copper and 0.3 g/t gold.
- Impressive Footprint: The porphyry system spans 850 metres by 700 metres, comparable to the Cortadera Cuerpo 3 discovery located 30 kilometres north.
- Prefeasibility Progress: The Costa Fuego PFS, encompassing La Verde, remains on track for completion in Q1 2025.
Hot Chili Ltd (ASX:HCH) has delivered a significant copper-gold porphyry discovery at the La Verde target, part of its flagship Costa Fuego copper-gold project in Chile’s Atacama region. The breakthrough comes from ongoing drilling activities, where early results highlight extensive mineralisation, underscoring the project's potential scale.
The first two reverse circulation (RC) holes have intersected 202 metres at 0.6% copper and 0.3 grams per tonne (g/t) gold from a shallow depth of 70 metres. This zone sits within a larger 308-metre intercept grading 0.5% copper and 0.3 g/t gold, starting from just 46 metres depth and continuing to the end of the hole. Such strong grades, combined with significant widths, place La Verde firmly on the radar as a promising addition to Costa Fuego.
La Verde’s porphyry footprint measures approximately 850 metres by 700 metres, highlighting its substantial scale. Comparisons to Hot Chili's higher-grade Cortadera Cuerpo 3 porphyry, located 30 kilometres north, suggest a robust exploration profile. The area had previously hosted a shallow open-pit mine targeting oxide copper mineralisation, but deeper and peripheral drill testing remained limited until now.
To date, Hot Chili has completed 12 RC holes, totalling 3,150 metres at La Verde. The initial two holes validate historic intercepts and explore the northern extension of the porphyry beyond the former open-pit operation. These promising results will likely drive further exploration aimed at unlocking the full resource potential of the target.
The discovery aligns with the ongoing prefeasibility study (PFS) for Costa Fuego, expected to be completed in Q1 2025. As a central component of this larger copper-gold project, La Verde’s emerging resource base strengthens the outlook for Costa Fuego’s long-term development.
Located in Chile’s prolific Atacama region, Costa Fuego has positioned itself as a critical copper-gold hub at a time of growing demand for the red metal. La Verde’s discovery could significantly enhance project economics and resource estimates, ensuring Costa Fuego remains a key player in the evolving copper market.
