ASX-listed Hot Chili cant put a foot wrong, with its ongoing drill program continuing to deliver blistering numbers from the Perth based company’s Cortadera porphyry copper-gold project in Chile. Latest results include 542 metres 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.
The new results give Hot Chili bragging rights to six record drill results on SNL Financial’s top 25 list of the best copper-gold hits, a list that the global intelligence provider has been keeping since the beginning of 2018.
Fourth on the top 25 list, is Hot Chili’s recent 972m intercept grading 0.5% copper and 0.2g/t gold, separated by mere metres from Argentian Aldebaran Resources and Ecudorain SolGold Plc’s top three width hits of 1,055m, 1,028 and 974m.
Amazingly Cupero 3 that shows average grades of between 0.7% and 0.9% copper and 0.2g/t and 0.5g/t gold is still open at depth and there is no sign of it running out of mineralisation any time soon.
The company confirmed late last year the presence of high grade zones at Cupero 1, 2 and 4, with copper and gold mineralisation starting from surface, or not too far from it, over a currently defined zone of about 2 kilometres.
Now, Cupero 3 looks like it may also contain a decent high grade core too with the new drill result containing a massive 218m zone going 0.7% copper and 0.2g/t gold within the wider 542m mineralised zone.
As is the case with many companies operating across a global platform right now, Hot Chili has been affected by travel bans and closed borders and has temporarily suspended its drilling program.
However, just before the shutdown, it said the diamond rig was sitting on another step-out hole at Cupero 3, around 250m from the last known mineralised position at the deposit.
The company said today that the rig intersected the southern contact of the main copper-gold porphyry and is 616m into the mineralised zone. The hole is planned to be extended to 1,200m when the crews are re-mobilised.
Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au
By Matt Birney
