The modelling flagged a high-priority target 1km northeast of La Verde, perfectly overlapping one of the magnetic-low features. The other two targets await further mapping due to their gravel cover.
The La Verde discovery is 30km south of Costa Fuego’s planned central processing facility at low elevation in Chile’s coastal range.
Earlier drilling results confirmed thick intersections, including a standout 389m at 0.4 per cent copper and 0.1 gram per tonne gold from 4m depth. Multiple higher-grade zones open laterally and at depth.
The identification of these new targets, coupled with the consolidation of a big porphyry footprint through recent option agreements, underscores Hot Chili’s strategic foresight in continuing to build its regional copper-gold resources as it develops the Costa Fuego copper hub and its promising Huasco Water project.
First-pass testing of the new targets alongside extensions at La Verde is set to kick off in September. Detailed mapping and rock chip sampling is already underway to refine the targets.
With Costa Fuego’s mammoth 798-million-tonne resource grading 0.45 per cent copper equivalent, and housing 2.9Mt copper, 2.6M ounces gold and 12.9M ounces silver, La Verde’s potential to feed into this hub could supercharge the project’s mine life and start up economics.
Hot Chili’s exploration prowess comes at a time when copper and gold prices are riding high, driven by global electrification and economic volatility.
The company’s ability to leverage advanced geophysical and geochemical tools, as demonstrated by its success at Productora and Cortadera, positions La Verde as a potential third jewel in its Chilean crown.
Comparisons to major porphyry discoveries, such as BHP and Lundin Mining’s $4.5 billion Filo del Sol deposit, highlight the scale that can be uncovered in the top copper-producer nation’s Atacama region.
As Hot Chili charges toward its phase two drilling and continues to court pivotal partners for production at Costa Fuego, the promising La Verde cluster could cement the company’s place among the world’s most promising copper-gold developers, perhaps akin to the pricey Filo del Sol takeover.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
