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Hot Chili intersects shallow high-grade copper at Chilean project

The results point to a potential shallow-dipping, near-surface copper resource over a strike length of at least 700 metres.

drill rig in operation
Drilling is continuing at prospects in the El Fuego project

Hot Chili Ltd (ASX:HCH) has returned wide, high-grade copper assays from shallow drilling completed below the San Antonio mine at its El Fuego Copper Project in Chile.

The initial results confirm the continuation of the San Antonio main lode, which remains open along strike and at depth.

A total of 29 reverse circulation drill holes for around 4,600 metres have been completed, with assay results received for 16 holes so far.

Potential open cut extraction

Highlighted intersections include: 19 metres at 2.0% copper from 61 metres, including 11 metres at 2.4%; 15 metres at 1.7% from 80 metres; and 13 metres at 1.3% from 17 metres, including 5 metres at 2.3%.

Several wide zones of copper mineralisation were confirmed in a further 10 drill holes, for which assays are pending.

Hot Chili believes the potential resource, which is within 20 kilometres of its Productora Copper Project, would be amenable to open pit extraction.

READ: Hot Chili expands copper potential of El Fuego project in Chile

The San Antonio mine has reportedly produced around 2 million tonnes at 2% copper, 0.3 g/t gold and 17 g/t silver from shallow depths since mining commenced in 1964.

The mine has had little modern exploration prior to Hot Chili executing a four-year option agreement in 2017.

Drilling is underway at the Valentina high-grade copper mine, just 5 kilometres north of San Antonio, where historical drilling has intersected 11 metres at 2.0% copper from 120 metres, including 7 at 2.7%.

Quick facts: Hot Chili Ltd

Price: 0.016 AUD

Market: ASX
Market Cap: $27.82 m

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