{"id":4770,"date":"2024-01-23T03:56:29","date_gmt":"2024-01-23T03:56:29","guid":{"rendered":"https:\/\/economicherald.net\/?p=4770"},"modified":"2024-01-23T03:56:29","modified_gmt":"2024-01-23T03:56:29","slug":"hot-chili-bites-into-us1bn-costa-fuego-copper-gold-project-with-another-10000m-of-drilling-under-way","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4770","title":{"rendered":"Hot Chili bites into US$1bn Costa Fuego copper-gold project with another 10,000m of drilling under way"},"content":{"rendered":"

A 10,000m drilling campaign across 10 holes has kicked off at Costa Fuego
\nAssays are back from four RC holes at the Marsellesa pit showing grades of up to 1% copper and six holes from Cordillera showing up to 0.4% copper
\nFinal stages of an upgrade to the mineral resource are being finalised<\/p>\n

\u00a0<\/p>\n

Special Report<\/em><\/strong>: The next phase of Hot Chili\u2019s 30,000m resource growing expedition at its Costa Fuego copper-gold project in Chile has kicked off at seven large-scale targets adjacent to the Cortadera and Productora deposits. <\/strong><\/p>\n

Hot Chili\u2019s return to drilling comes off the back of a landholding expansion of the project and a recent scoping study<\/strong><\/a> which estimated the >US$1 billion project can produce ~112,000tpa of copper equivalent (95,000t CU and 49,000oz Au) for an initial 14-year mine life.<\/p>\n

Chile is renowned for its high-value copper deposits and is the largest producer of the red metal in the world, with heavy hitters such as BHP, Rio Tinto and JECO running the operations of world-class deposits.<\/p>\n

\u00a0<\/p>\n

Phased drilling<\/strong><\/h2>\n

47 RC drill holes for 11,500m have been completed since Hot Chili (ASX:HCH)<\/strong><\/a> kicked off the extensive drill program in late July last year, and this round comprises 10 diamond holes to test four large-scale targets near Cortadera and three large-scale targets near Productora for a total of 10,000m.<\/p>\n

\u00a0<\/p>\n

Diamond drilling operations under way across large-scale porphyry targets located immediately adjacent to Hot Chili\u2019s Cortadera copper-gold mineral resource. View looking west-southwest across Cortadera deposit valley. Pic via Hot Chili<\/p>\n

\u00a0<\/p>\n

Assays have come back from the late-2023 targets of Marsellesa, Cordillera and Correteo \u2013 all within 15km of Costa Fuego\u2019s planned central processing hub showing grades of up to 1% copper across 500m of prospective strike length.<\/p>\n

Four RC holes for 1,244m were completed and include:<\/p>\n

25m @ 0.4% copper from surface, including 10m grading 0.8% copper from 7m depth
\n8m @ 0.8% copper from 1m depth downhole, including 4m grading 1.0% copper from 4m depth<\/p>\n

HCH says the higher grade copper intersections are associated with both copper oxide and sulphide mineralisation and further work is being planned to assess mineralisation continuity.<\/p>\n

The Marsellesa mine area is laterally extensive, measuring 400x200m, with historical open pit and underground mine workings exposing multiple zones of shallow-dipping, strata-bound (manto-style), copper mineralisation.<\/p>\n

Six holes for 1,450m at Cordillera, 1km to the west of Marsellesa, showed up to 0.4% copper below and surrounding the historical small surface mine workings, including:<\/p>\n

93m @ 0.3% copper from surface, including 14m grading 0.4% copper from surface
\n53m @ 0.3% copper from 19m depth, including 10m grading 0.4% copper from 44m depth<\/p>\n

Eight RC holes for 2,324m were completed at the greenfield Corroteo exploration target, however, no significant intersections were recorded.<\/p>\n

HCH is in the final stages of the resource upgrade for Costa Fuego, which is expected to be released this quarter.<\/p>\n

\u00a0<\/p>\n

\ufeff<\/span><\/div>\n\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Hot Chili, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

\u00a0<\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em>\u00a0<\/em><\/p>\n

<\/span><\/p>\n

The post Hot Chili bites into US$1bn Costa Fuego copper-gold project with another 10,000m of drilling under way<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

A 10,000m drilling campaign across 10 holes has kicked off at Costa Fuego Assays are back from four RC holes at the Marsellesa pit showing [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4770","post","type-post","status-publish","format-standard","hentry","category-finance"],"yoast_head":"\nHot Chili bites into US$1bn Costa Fuego copper-gold project with another 10,000m of drilling under way - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=4770\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hot Chili bites into US$1bn Costa Fuego copper-gold project with another 10,000m of drilling under way - 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