Hot Chili adds to Habanero zone
THE DRILL SERGEANT: Hot Chili (ASX: HCH) has received a further set of strong results from drilling being carried out on the company’s Productora copper project in Chile.
The company believes the results have highlighted the growing potential for the higher-grade Habanero zone within the Productora project to make a substantial impact on the economics of the project.
New significant drilling intersections in relation to the
planned central pit design at Productora. The figure displays the three
current focus areas for extensional drilling. Source: Company
announcement
The latest results extended the strike length of the known mineralisation at Habanero to greater than 600m, while continuing to deliver encouraging grades over wide intersections.
This included an intersection of:
43 metres at 1.1 per cent copper and 0.3 grams per tonne gold from a down-hole depth of 196m.
“Much of the mineralisation defined to date lies within the extents of the planned entrance pit at Productora and will form part of the impending major resource upgrade for the project,” Hot Chili said in its ASX announcement.
The company highlighted another intersection, which returned:
36m at 1 per cent copper and 0.2g/t gold within a broader intersection of 54m at 0.8 per cent copper and 0.2g/t gold from a down-hole depth of 126m.
Hot Chili said the significance of this particular intersection was that it was returned from the most northern drill hole at Habanero.
“This particular result highlights the potential for further extensions to Habanero,” the company explained.
“Outside of the planned central pit and into an area where there is currently no drilling coverage.”
Hot Chili expects to complete all drilling for 2013 in the coming days.
It anticipates receiving results for approximately 60 additional drill holes over coming weeks for incorporation into the forthcoming Productora resource upgrade, which is expected in early 2014.
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