Hot Chili jags monster 529m copper, gold hit in Chile

The West Australian11-27

Hot Chili has hit paydirt with a staggering 529-metre intercept grading 0.41 per cent copper and 0.21 grams per tonne (g/t) gold from a diamond drill hole at its emerging La Verde copper-gold porphyry...

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All of these resources sit right beside the Pan-American Highway, close to existing infrastructure in the Huasco Valley and the nearby Las Losas port.Positioned just 30 kilometres south of the company’s planned processing plant, Hot Chili says La Verde is now shaping up as a hefty addition to the company’s Chilean inventory, potentially adding serious open-pit material to its nearby Costa Fuego copper-gold porphyry project. The find also has the potential to bulk up the front end of the 20-year mine plan at Costa Fuego and improve the already mouthwatering economics outlined in its March pre-feasibility study.The study put some serious numbers on the table, outlining a post-tax NPV of US$1.2 billion (A$1.8 billion) using a US$4.30 a pound copper price and gold at US$2280 an ounce.Costa Fuego is tipped to churn out about 116,000 tonnes of copper-equivalent metal each year for its first 14 years, driven by 95,000 tonnes of copper and 48,000 ounces of gold.Costa Fuego hosts a 798-million-tonne resource grading 0.45 per cent copper equivalent, packing 2.9 million tonnes of copper, 2.6 million ounces of gold and 12.9 million ounces silver.Comparisons to major porphyry discoveries, such as BHP and Lundin Mining’s $4.5 billion Filo del Sol deposit, highlight the scale and exploration success that can be uncovered in the world class Atacama region in Chile.Hot Chili continues to court pivotal partners for production at Costa Fuego, during times of high copper and gold prices.The promising La Verde project, including the cluster of three promising look-alike porphyry targets could cement the company’s place among the world’s most lucrative copper-gold developers.Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.11","shortVersion":"4.35.11","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2586121142","isCrawlerRequest":true}