News Articles for Hot Chili

ASX-listed aspiring Chile copper developer, Hot Chili, has been granted crucial water extraction rights for its overarching Costa Fuego porphyry copper-gold project located about 600km north of the country's capital, Santiago. The company says the maritime concession, which was granted following an exhaustive seven-year application process, represents a critical infrastructure requirement for Costa Fuego by securing sufficient water supply to support a large-scale copper-gold operation.

Hot Chili has shaken the tin and come away an impressive $25.6 million, completing a placement to fund an accelerated development program in Chile and maintain its wholly owned position in the massive Costa Fuego project. The company will use the proceeds of the raising to fund the second US$10 million instalment payment for the purchase of Cortadera and to accelerate its drilling across the project area.

Perth-based Hot Chili has arranged a $25.6 million private placement to fund the payment of its recent copper-gold project acquisition.

Hot Chili has returned to its headline stealing best, tabling yet another cracker copper strike from its Cortadera deposit in Chile. This latest colossal interval tips the scales at 373m grading 0.4 per cent copper and 0.1 g/t gold from 648m down-hole and includes a higher-grade core of 130m at 0.5 per cent copper and 0.2 g/t gold.

Our board moves wrap includes Michael Anderson, Brandon Munro, Phillip Campbell, and Blair Sergeant.

Hot Chili has unveiled a massive new resource for its Costa Fuego project in Chile, with the company's inventory in South America skyrocketing to a headline-grabbing 724 million tonnes at 0.48 per cent copper equivalent. The global resource now hosts an incredible 2.9 million tonnes of copper, 2.7 million ounces of gold and 9.9 million ounces of silver. These numbers are set to grow even further in the coming months as drilling continues across the fertile copper terrane.

ASX-listed Hot Chili may be onto another significant discovery – at the Cortadera North target zone – which could even be a twin to its Cortadera copper-gold porphyry system. The potential for a new “look-alike” discovery about 2km north of Cortadera, which shows a geochemical footprint of 2km in length, comes just weeks ahead of the company's plans to announce a maiden resource estimate for the Chilean project.

As Hot Chili gets closer to delivering a maiden resource estimate for its Cortadera copper-gold project in Chile, new diamond drilling has continued to expand the exciting porphyry discovery. Wide assays from the first two drill holes in phase three of the drilling campaign confirm the high-grade core within the largest porphyry at Cortadera, known as Cuerpo 3, where the mineralisation continues 800m down-hole.

Hot Chili has tabled some positive test work from its three copper deposits in in Chile, delivering a common processing route and potentially a high-value product. Metallurgical test work on sulphide samples from the Cortadera, Productora and San Antonio copper deposits confirms the selected processing flowsheet should see over 89 per cent of the contained copper recovered.

Hot Chili is now a copper and gold producer and whilst it has spent a lot of time, money and effort proving up its Chilean projects, it spent nothing on CAPEX to start mining. Spurred on by fabulous copper and gold prices, Hot Chili has hit a big milestone with the start of mining at Productora four months ahead of schedule.

Hot Chili has the drill rigs firing again at its Cortadera copper-gold project in Chile, zeroing in on extensions to the high-grade zones across a 2.3km strike that is likely to form the backbone of an imminent maiden resource at the project. Hot Chili has doubled the size of the mineralised system in less than 18 months at Cortadera which the company believes may propel it to Tier 1 status.

Hot Chili is back in the field at its giant Cortadera copper-gold project in Chile with the Perth company poised to extend an extraordinarily long drill intersection that has already unearthed over 300m of mineralised porphyry. The drill rig fired back up recently following a COVID-19 shutdown and Hot Chili looks to be primed and ready to again test its drilling prowess.

Hot Chili is fast-tracking the development of its world-class copper-gold project in Chile after the ASX-listed company inked an agreement with Chilean Government owned ENAMI, to mine and process the high-grade copper-gold ore from its massive Productora porphyry project. The proceeds from the deal will underpin the development of Hot Chili's nearby Cortadera porphyry deposit that is even more impressive.

Despite the current Coronavirus inspired market challenges, ASX-listed Hot Chili has encountered no difficulty in completing a $5m placement to sophisticated and institutional investors to progress its burgeoning Cortadera copper-gold discovery in Chile. Existing shareholders will also get a piece of the action with an additional $3.9m expected to come in from a non-renounceable rights issue.

Copper explorer Hot Chili is targeting its first resource estimate for two projects in South America after announcing an oversubscribed $5 million placement and $3.9 million rights issue, with majority of the funds going towards a drilling restart at the Cortadera project in Chile.

Hot Chili has transformed the Cortadera copper-gold deposit, one of Chile's best kept secrets, into a company maker and it has now bought itself another 12 months to pay for it as the company continues to drill it out and get a handle on just how big Cortadera might be. The deal removes the need to raise money during the Coronavirus calamity, which has also caused the US dollar to tank.

Hot Chili has struck a win-win deal with the Chilean Government by accepting an offer for lease mining and processing of ore from its Productora copper-gold deposit in Chile, which will see Hot Chili realise surprise revenues from Productora way ahead of any internal planning. The company said its agreement potentially represents between US$400,000 to US$500,000 in annual payments for its 80% interest in the Productora JV.

ASX-listed Hot Chili cant put a foot wrong, with its ongoing drill program continuing to deliver blistering numbers at the Cortadera project in Chile. Latest results include 542m grading 0.5% copper and 0.2 grams per tonne gold from 422m at the Cupero 3 deposit. The most recent drill hits have extended the deposit's high grade core to well over 500m in length and 200m in width.

Hot Chili is on track to deliver some exceptional drill intersections at its rapidly growing Cortadera porphyry copper-gold discovery in Chile with its first expansion diamond drill hole for 2020 still in mineralisation at 900m with 550m of mineralised porphyry already in the bag from the 350m mark. The company said it would extend the hole that is a 100m step-out from the largest porphyry to around 1,100m.

New modelling work at Hot Chili's Cortadera copper-gold discovery in Chile has the Perth based company convinced that its resource, just in the existing discovery zone, has the potential to grow into a “tier-1” style deposit that is capable of hosting over 5mt's of contained copper. A recent deviated drill hole unexpectedly delivered 92m @ 0.5% copper and 0.2 g/t gold at end of hole.

After lighting a fire under its Chilean Cortadera copper-gold project in late 2019, the first intersection in the latest step-out drilling program for Hot Chili has continued the company's extraordinary run of ultra-deep drilling success. Latest numbers include a 649m mineralised zone going 0.4% copper and 0.1g/t gold. The latest hole in the current eight-hole program also intersected 440 meters grading 0.5% copper and 0.2 g/t gold.

Hot Chili is on fire at its Cortadera project in Chile, finishing off the year in style with a suite of impressive copper and gold hits for the second time in as many weeks. The Cupero 2 prospect has again delivered, with an 80m drill hit going 0.8% copper, 0.3g/t gold and 3.8g/t silver, right from surface. This includes 26m @ 1.7% copper and 0.7g/t gold from 54 metres depth.

Hot Chili has the West Perth mining glitterati and their followers on St Georges Terrace all abuzz with news of its nearly 1km long mineralised drill hole at its Cortadera project in Chile. The latest drill result may well rank up there with some of the all-time remarkable drill intercepts and is most likely the best hit anywhere in Australia and possibly even around the globe for 2019.

Two lengthy diamond drill intercepts at the Cortadera coastal range copper-gold discovery in Chile continue to reaffirm Hot Chili's suspicions that it is sitting on a globally significant underground bulk tonnage copper gold operation. New results include 168 metres at 0.4% copper and 0.1 grams/tonne gold from 44m and a massive 334.1m at 0.5% copper and 0.2g/t gold from 654m.

Hot Chili's drilling at the Cuerpo 3 deposit within its Cortadera porphyry discovery in Chile has hit a 264m long, near-surface intercept of copper and gold mineralisation from just 52m down-hole, opening up the potential for future open-pit extraction. Another hole 250m to the southwest recorded a strongly mineralised porphyry system from surface to at least 313m depth, confirming the zone is also situated in shallow up-dip positions.

Hot Chili's latest drilling at the rapidly emerging Cuerpo 3 deposit of its Cortadera porphyry discovery in Chile has extended the thick, copper-gold core of mineralisation by a further 246m, returning a stunning 596 metres grading 0.5% copper and 0.2g/t gold from 328m down-hole. This hole also contains a higher-grade intersection from 430m, that produced 184m @ 0.7% copper and 0.3g/t gold, with significant silver and molybdenum credits.

Hot Chili has extended the thick, high-grade copper-gold core of mineralisation at its Cuerpo 3 deposit at the Cortadera porphyry discovery in Chile with a massive, 350 metre intersection grading 0.6% copper and 0.2g/t gold. The company recently completed a $12.1 million capital raise to help it develop what it says is one of the South American country's most significant copper-gold porphyry finds of the past decade.

Existing Hot Chili shareholders, Taurus Funds Management and Kalgoorlie mining identity, Murray Black, have corner-stoned a $12m capital raise for Hot Chili that has also attracted a number of institutional heavyweights out of North America and Australia. The funds will see the Perth based, ASX-listed company turbocharge its efforts to commercialise the Cortadera porphyry copper-gold project in Chile.

Copper and gold explorer Hot Chili has raised $12.1 million via a share placement, while Australian Vanadium and Blackstone Minerals have also locked in funds from capital raisings.

Hot Chili has identified a new conductivity and chargeability anomaly north of the Cuerpo 3 porphyry copper-gold ore system within its Cortadera project in central Chile, from reprocessed geophysical data. The company has also recorded visual chalcopyrite within mineralised porphyry over the entire extent of the first diamond hole in its Phase 2 drilling campaign at Cortadera.

Hot Chili has commenced a second phase of diamond drilling aimed at expanding the prospective, higher-grade zone of the Cuerpo 3 porphyry copper-gold ore system within its Cortadera project in central Chile. The company said results from the first phase had exceeded expectations and re-shaped its view of the potential size and grade of the Cortadera discovery.

Hot Chili has generated another large porphyry copper-gold exploration target called Cortadera North, located adjacent to its Cortadera project in central Chile. The target covers two square kilometres and is defined by a coincident geophysical induced polarisation chargeable anomaly and strong surface enrichment of the element molybdenum, which are fundamental deposit signatures of the nearby Cortadera ore system.

Assorted minor corporate finance deals not covered in the previous week's articles.

Hot Chili has delineated thick, copper-gold mineralisation at its Cuerpo 3 porphyry copper deposit in central Chile, with drilling returning 188m @ 0.9% copper and 0.4g/t gold from 516m down-hole within a much broader 750m intercept. The company said the result from the Cortadera project is one of the best intersections of its type recorded globally and is similar to notable bulk tonnage underground porphyry mines.

Hot Chili has delineated a thick, high-grade zone of copper-gold mineralisation at its Cuerpo 3 porphyry copper deposit in central Chile, that returned 188m @ 0.9% copper and 0.4g/t gold from 516m down-hole within a wider 622m intercept. The company said the intercept was comparable to results from SolGold's Cascabel porphyry copper-gold discovery in Ecuador, which holds 5.2 million tonnes of copper and 12.3 million ounces of gold.

Hot Chili has delineated a potential fourth porphyry centre at its large Cortadera copper-gold discovery in central Chile, after securing further historical drill hole and geophysical data for the project area. This technical dataset has revealed a substantial, alteration-related outline some 4km long by 3km wide, which has all the markings of a potentially world-class gold-rich, porphyry copper system.

Drilling has indicated that Hot Chili's Cortadera copper-gold deposit in Chile may have greater growth potential than anticipated after confirming a large northern extension to the main porphyry centre, Cuerpo 3. The company is completing a second diamond hole to test the extent of a potential higher-grade core at Cuerpo 3 and plans to drill two further holes to determine the potential for an increasing grade profile with depth.

Hot Chili has outlined thick zones of porphyry-related copper and gold mineralisation during its maiden RC drilling campaign at the large Cortadera deposit located in central Chile. Results included 122m @ 0.6% copper and 0.3g/t gold directly from the surface, including a high-grade intercept of 20m @ 1.2% copper and 0.5g/t gold from 40m down-hole, related to a wide supergene enriched zone of copper.

Hot Chili has started its maiden RC drilling campaign at the large Cortadera copper-gold porphyry deposit located adjacent to its flagship Productora project in central Chile. The company said that drilling was progressing well, with all drill holes recording visual intersections of copper oxide and copper sulphide mineralisation. The first batch of samples have been dispatched for analysis and assays are expected in the coming weeks.

Eon NRG is pleased to announce that the Company's rights issue, as detailed in the Prospectus dated 6 February 2019, has been well supported by Eon's shareholders and new investors and is now close