Improved Moly Returns In Latest XRF Results
Hot Chili Limited (ASX:HCH) says evidence is building toward the potential for the Cortadera project to be part of larger regional copper porphyry cluster on the Chilean coastal range.
New soil results and mapping have confirmed a large copper porphyry footprint measuring over 4km in length and 2km in width at the Santiago Z landholding, located immediately south of Cortadera.
Santiago Z contains a large historical XRF soil molybdenum anomaly that is twice the size and four times the tenor of the soil molybdenum anomaly related to the Cortadera copper-gold porphyry discovery.
Soil assays confirm stronger molybdenum results than first outlined in earlier XRF molybdenum results as well as enrichment in copper, gold and silver (Cortadera metal signature).
Other element zonation patterns provide confidence in the presence of a potentially large copper porphyry system at depth.
Mapping by Hot Chili has recognised several areas of outcropping copper-bearing hydrothermal breccia at Santiago Z.
In addition, a review of detailed historical mapping at Santiago Z has highlighted the presence of a corridor of porphyries (91-96Ma) with similar age to Cortadera, recently dated by Hot Chili as a Late Cretaceous porphyry (92Ma +/- 2Ma).
Further detailed mapping will focus across the corridor of hydrothermal brecciation and porphyries which have intruded the shallowly dipping local volcano-sedimentary sequence, similar to the Cortadera porphyry deposit setting.
A review of historical geophysical datasets across Santiago Z is underway and the Company is planning a programme of extensional soil geochemistry and detailed mapping as its next steps in advance of first-pass drilling later this year.
Hot Chili is advancing well with its 40,000m drill programme at Cortadera with three rill rigs in operation.
New drill results are being compiled for release (including CRP0046D) and the company expects to provide an update on drilling activities next week.
