Hot Chili (ASX:HCH) should lift at the market open after expanding the near-surface, high-grade, copper-gold mineralisation at its flagship Productora copper project in Chile.
Intercepts of note include: 64 metres at 1.5% copper and 0.4 grams per tonne gold from 122 metres, 49 metres at 1.3% Copper Equivalent from 89 metres, and 102 metres at 1% copper and 0.2 grams per tonne gold from 124 metres.
Importantly, this newly discovered zone was previously treated as waste in the Productora scoping study.
Additionally, access has been granted for extensional drilling at the Productora underground mine area with work to commence shortly; and regulatory approval has been gained for a further 100 extensional holes along the eastern flank of the planned central pit development.
Reverse circulation drilling continues at Productora with approximately 120 holes remaining, now targeting the new zone to determine its extent and impact on the central pit, which may be substantial given the tenor of copper and gold grades being recorded in these recent holes.
These fresh hits place Hot Chili firmly on track for a major resource upgrade later this year.
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