Hot Chili expands its copper-gold discovery at La Verde with promising drilling results

Investors and industry analysts are now awaiting assay results from seven additional drill holes, which could further solidify La Verde’s status as one of the most promising copper-gold discoveries in the region.

Mining company Hot Chili (ASX:HCH) has confirmed the immense potential of its La Verde project, located in the historic Domeyko mining district, after obtaining outstanding results from multiple drill holes that reinforce its potential as a major copper-gold porphyry discovery.

Drilling highlights La Verde’s potential

In December 2024, Hot Chili announced its first significant discoveries, reporting thick copper-gold intersections from its initial two drill holes. DKP001 revealed an intersection of 174m grading 0.4% copper and 0.1 g/t gold from a depth of 36m. However, the major breakthrough came with DKP002, which delivered 308m at 0.5% copper and 0.3 g/t gold from 46m to the end of the hole.

Even more significantly, DKP002 includes a higher-grade zone of 202m at 0.6% copper and 0.3 g/t gold from 70m, indicating a rich resource close to the surface, facilitating potential extraction.

New assay results from 10 additional drill holes have now returned broad, consistently mineralized intersections extending over 300m vertically from shallow depths.

Key drilling results

The latest results reinforce La Verde as a substantial copper-gold deposit, with notable intersections including:

• DKP009: 320m at 0.3% copper and 0.1 g/t gold from 34m to end of hole, including 134m at 0.4% copper and 0.2 g/t gold from 180m.
• DKP005: 200m at 0.4% copper and 0.1 g/t gold from 48m, including 38m at 0.5% copper and 0.2 g/t gold from 68m.
• DKP012: 172m at 0.4% copper and 0.2 g/t gold from 48m, with a section of 20m at 0.5% copper and 0.2 g/t gold from 62m.

These results have exceeded initial expectations, revealing a much larger copper-gold porphyry system than previously recognized, according to Hot Chili’s CEO Christian Easterday.

A Major Discovery

Easterday emphasized that La Verde has all the potential to become Hot Chili’s next major discovery, potentially increasing the scale and value of its Costa Fuego project.

"With primary copper supply declining, copper and gold prices rising, and our PFS nearing completion, we are at a crucial point in Hot Chili’s growth story," said Easterday.

The La Verde project is located in the historic Domeyko mining district, at the heart of Hot Chili’s recently consolidated exploration landholding, enhancing its strategic potential.

Next Steps and Ongoing Exploration

To date, Hot Chili has drilled 19 holes totaling 5,700m at La Verde, with results confirmed in 12 of them. The mineralized footprint currently measures 550m by 400m and remains open in all directions. Indications of deeper potential are also present, as eight reported drill holes have ended in mineralization.

The company has commenced step-out drilling to evaluate whether a larger porphyry system is concealed beneath gravel cover. Additionally, Hot Chili is preparing diamond drilling to assess deeper, higher-grade zones and explore the potential for +1km vertical depth, similar to recent major porphyry discoveries like Cortadera and Filo del Sol.