Hot Chili (ASX: HCH) has exercised its purchase option over a major component of the recently expanded resource at the company’s Productora copper project in Chile.
Earlier in the month Hot Chili delivered a resource upgrade at Productora which came close to doubling the resources at the project to 165.2 million tonnes at 0.6% copper, 0.1g/t gold and 132g/t molybdenum from surface.
By exercising the option, Hot Chili now holds a 100% interest in the Central Lease (Productora 1/16), which contains over half of the projects established resources, and is positioned within the company’s planned central pit development.
The Central Lease also contains a large amount of the high grade, shallow component of the Productora resource which now stands at 53 million tonnes at 0.8% copper and 0.2g/t gold from surface.
The decision by Hot Chili to exercise its purchase option over the Central Lease finalises the Company’s last major commitment at Productora. This follows the decision last week to give the go-ahead for full Pre-feasibility studies.
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