Sponsored Content for Murray Black

Hot on the heels of this week's earlier announcement that Glencore has agreed to pump A$14.4m into Hot Chili in return for a 9.99 per cent equity stake, Hot Chili has surprised the market with further news that it plans to raise $40 million to move to full ownership of its massive Cortadera copper-gold deposit. Hot Chili stock soared immediately by almost 20 per cent on the news.

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.

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.