Announcement Date: 2022-07-19
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Hot Chili Ltd.
Project name: Costa Fuega
Location: Chile
Commodities: Gold,Silver,Copper,Molybdenum
Highlight: Drilling results incl. 484m @ 0.4% Cu, 0.1g/t Au, 0.6g/t Ag, 94ppm Mo from 548m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) (“Hot Chili” or “Company”) is pleased to announce another set of strong results from development study drilling across the Company’s Costa Fuego costal range copper-gold project in Chile. Drilling has returned higher grade results than expected at both the Cortadera and Productora deposits, as well as providing final inputs for metallurgical and geotechnical testwork programmes. These new results add to a series of recent outstanding drill intersections, which are expected to have a positive impact on the forthcoming resource upgrade and Pre-feasibility Study (PFS) for Costa Fuego. Development study drilling is complete and the Company has reduced its drilling operations from three drill rigs (5 shifts of drilling per day) to one drill rig (1 shift of drilling per day) along with implementing other cost rationalisation initiatives. The Company looks forward to its next set of results from drilling undertaken across its high grade satellite deposits (San Antonio and Valentina) as well as first-ever drilling set to commence across the large-scale Santiago Z porphyry target in early August.
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