Hot Chili Limited (ASX: HCH) (TSXV: HCH) has obtained strong visual copper results from drilling at the high-grade Valentina deposit, part of the company’s Costa Fuego, coastal range, copper-gold hub in Chile.
Two drill rigs are in operation at the Valentina and San Antonio high grade copper deposits, located 5km east of the Cortadera copper porphyry discovery.
Drilling at Valentina has successfully discovered a significant shallow visual copper zone approximately 120m south of the existing underground mine development in diamond drill hole VALMET-002.
VALMET-002 recorded a 17m intersection with a visual estimate of interesting copper mineralisation from 22m depth, comprising both oxide and sulphide mineralisation (malachite, copper clays, chalcopyrite, chalcocite and covellite).
The result includes a zone of 8m with a visual estimate of very interesting copper mineralisation from 28m depth, comprising chalcocite, cuprite, chalcopyrite, covellite, malachite, copper clays.
Copper mineralisation in VALMET-002 is contained as fine dissemination and strong alteration in association with vein abundance (quartz-pyrite-limonite).
Ten drill holes have been completed at Valentina and a further eight drill holes are planned. Drill results from VALMET-002 are expected to be released in the coming weeks.
Upon completion of drilling at Valentina and San Antonio, further drilling is planned to test several large growth targets including Santiago Z and extensional porphyry targets along strike from Cortadera.
Pre-feasibility studies (PFS) have been expanded to capture additional metallurgical testwork opportunities across all deposits at Costa Fuego and preliminary mine planning is being extended to allow the incorporation of new resource growth from drilling in 2022.
For further information please visit: https://www.hotchili.net.au/