Hot Chili Limited (ASX: HCH) (TSXV:HCH) has further consolidated the Cortadera copper-gold discovery in Chile.
The company has succeeded in securing several new prospective mining rights at a recently held, government-run, public auction for the Huasco region of Chile. The new mining rights are located alongside mining rights of the recently announced transaction with Antofagasta Minerals S.A. (AMSA).
Together, these new landholdings consolidate the western extension of Cortadera and allow Hot Chili to test a potentially much larger copper porphyry cluster.
Hot Chili has now secured four new large porphyry targets adjacent to the existing Cortadera resource (Cuerpo 1, 2 and 3), and added significant prospective strike length across two mineralised trends:
• Las Canas trend (+1.8km, N-S) – Three large porphyry targets including the Cuerpo 4 porphyry target (700m in strike length by 300m in width and drill confirmed
• Cortadera trend (+1.1km, NW-SE) – One large porphyry target located directly along-strike from Cortadera on the Serrano fault, an important mineralising fault corridor connecting the Cortadera and Productora copper-gold deposits
The new landholding successfully acquired at auction contains the Cortadera trend extension and comprises seven mining rights covering 757 hectares. Three mining rights (Falla Maipo 2, 3, 4) were acquired for US$110,000 and the remaining four mining rights (CF 6, 7, 8, 9) were successfully awarded following forfeiture of overlapping third party mining rights.
Drilling across the western extension to Cortadera is planned to commence as soon as possible.
This recent strategic consolidation of the Cortadera porphyry deposit area has the potential to deliver another significant leg of resource growth to the Costa Fuego copper hub.
Further updates and announcements are expected in the lead-up to drill commencement.
For further information please visit: https://www.hotchili.net.au/
