News Articles for Hot Chili

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Hot Chili has executed an option agreement to acquire a 100% interest in Chilean mining group SCM Carola's Vallenar landholdings, that are adjacent to the company's Productora and El Fuego copper assets in Chile. The new Cortadera tenements hold a significant copper-gold porphyry discovery which contains extraordinarily wide, consistent, drill intersections of copper-gold mineralisation only released earlier this month.

Three junior miners are undertaking capital raisings, with Amani Gold set to raise at least $3.7 million, Hot Chili $3.2 million, and $3 million for Capricorn Metals.

Hot Chili has executed a binding MoU for an option to acquire a 100% interest in Chilean mining group SCM Carola's Vallenar landholdings, that are adjacent to the company's Productora and El Fuego copper assets in Chile. The new “Cortadera” tenements hold a significant copper-gold porphyry discovery which contains extraordinarily wide, high grade, drill intersections of copper/gold mineralisation never publicly released before.

Hot Chili has reported a lovely set of shallow, high grade numbers from a drilling program at its El Fuego copper project in central Chile. Assays show intersections up to 12m going 1.5% copper from just 28m down-hole and 8m @ 2% copper from 124m at the Valentina prospect. Surface rock chip sampling has defined anomalous copper mineralisation over at least 700 metres now at Valentina.

Hot Chili has reported more shallow, high grade copper drilling results from its RC drill program at the El Fuego project area in central Chile. Assays showed intersections up to 9m @ 2.0% copper from 132m down-hole and 16m @ 1.1% copper from 93m down-hole at the San Antonio copper mine prospect. The ore system strikes for almost 700m, to a depth of 200m and plunges shallowly southwards.

Research house EverBlu Capital has set a price target of 17c a share for aspiring copper producer Hot Chili, based on its 80% ownership of the flagship Productora copper project in Chile. EverBlu says the $30m company could be worth as much as AUD$511m if Hot Chili could process a higher-grade ore blend, by incorporating 10% of its annual sulphide ore feed from small satellite copper mine deposits currently being developed by the company.

Latest assays from drilling at the San Antonio copper mine suggest Hot Chili may have found a large, high-grade, shallow copper resource that could transform the economics of its flagship Productora development just 20kms away. Best results include 27m at 1.3% copper and 5m @ 2.5% copper. Copper mineralisation is continuous over a 700m strike length and remains open along strike and at depth.

Hot Chili has reported shallow, high grade copper drilling results from its maiden RC drilling program at the El Fuego project area in central Chile. Assays showed intersections up to 19m @ 2.0% copper from 61m depth and 15m @ 1.7% copper from 80m down-hole at the San Antonio copper mine prospect. The ore system strikes over 700m and has a higher grade plunge component.

Hot Chili has announced the discovery of multiple large copper exploration targets during a reconnaissance mapping and sampling program, near its San Antonio prospect area in Chile. Surface sampling produced results up to 6.5% copper, 1.97 g/t gold and 24.3g/t silver. The company also said an RC drilling program at San Antonio was progressing well, with assay results from priority holes containing visible copper sulphides due shortly.

Hot Chili has commenced drilling at its very prospective looking El Fuego copper targets in Chile, with assay results due shortly. The program is testing extensions of shallow, high grade copper lodes at the historical San Antonio and Valentina mines. The company has initiated underground mapping and sampling at San Antonio and recently completed regional reconnaissance mapping and sampling.

Hot Chili has announced a $4m placement to fund a drill program at the El Fuego copper project in Chile. The program is aimed at increasing high grade mineral resources and extending the initial mine life of the flagship Productora asset beyond 10 years. The small scale mines at San Antonio and Valentina will be targeted first, having defined potential for extended shallow, high grade copper sulphide mineralisation

Hot Chili has announced exceptional assay results from historical underground face sampling data compiled for its San Antonio prospect in Chile. Results include 7.5m @ 10.4% copper and 24.6m @ 2.2% copper and demonstrate ore thickness up to 30m true width. The ore system is still open at depth below 120m. Regional mapping and sampling has identified further porphyry copper targets.

Hot Chili has discovered a 12m intersection going 3.1% copper without sinking a drill hole. The company has unearthed historic drill data records that show it is on the right track with its impending maiden drill program at the El Fuego project in Chile. The company has identified in-situ ore parcels adjacent to mine workings and discovered a new hanging wall lode.

An investment bank and research house has set a price target for Hot Chili at a 500% premium to recent trades, based on the value of the aspiring copper producer's Productora project in Chile. EverBlu Capital also sees several scenarios where Hot Chili could be valued many times higher because of a strengthening copper market and smart moves to transform the economics of its flagship Chilean copper project.

ASX-listed Hot Chili has created a sense of early excitement around its new Valentina prospect at the El Fuego copper project in Chile. The company has stumbled across historic records that show up to 4.8% copper was pulled from the shallow, small scale, family owned mine at Valentina back in the 1990s. Other historical results include an 11m intersection going 2% copper.

Hot Chili has announced some stand out high grade production results from a family owned small scale copper mine that sits atop the company's exciting San Antonio prospect within its new El Fuego copper project in Chile. The work underlines Hot Chili's confidence in the potential for regional continuity of high grade sulphide copper ores over significant strike lengths within trucking distance of its flagship Productora Project.

A small copper mine acquired by Hot Chili within trucking distance of its Productora development looks like it could be sitting on a much bigger, higher grade copper deposit than previously thought. Small-scale lease mining in recent weeks produced 16.3 tonnes of ore at 5.24% copper from depths of less than 15 metres and has extended the strike length of high-grade, shallow copper to 1km.

Local explorers Hot Chili and Orinoco Gold have raised a combined $9 million from investors to fund ongoing work at their respective projects.

Chile-focused copper explorer Hot Chili has received firm commitments for an $8.1 million capital raising to fund ongoing work on its Productora project.

Hot Chili has secured US$25 million in debt funding which will be partially used to complete its prefeasibility study at its Productora copper project in Chile.

Chile-focused copper explorer Hot Chili has secured $11.7 million to continue development of its Productora copper project in Chile.

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Perth-based explorer Hot Chili has launched a $35.5 million capital raising to fund development at its Productora copper-gold-molybdenum project in Chile.

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WA-based Hot Chili has completed a private placement, raising $22.3 million for its Productora copper-gold project in Chile, which has extensive drilling and scoping studies already in place.

Western Australia-based resources firms Crescent Gold, Latin Resources, and Hot Chili have each announced strong interest and oversubscriptions to capital raisings collectively worth around $16 million.

East Perth-based Aragon Resources has called off its takeover of private Australian company Hot Chili after it was unable to gain surety of pending agreements on key tenements.

Shares in Aragon Resources have more than doubled on news the East Perth-based company will acquire private Australian company Hot Chili, which holds the largest identified uranium project in Chile.