Hot Chili continues mineralisation at Alice

THE DRILL SERGEANT: Hot Chili (ASX: HCH) has received results from a second round of drilling recently undertaken at the Alice discovery at the company’s Productora copper project.

Hot Chili claims the results have highlighted the potential for a substantial increase in Mineral Resources and Ore Reserves for the project.

The company said the latest results also support its view that Alice may host porphyry-style mineralisation.

The latest results are from a second hole located 200m south of the initial Alice discovery intersection the company reported earlier this month of:

151 metres at 0.4 per cent copper from 116m down-hole, including 54m at 0.5 per cent copper and 0.1 grams per tonne gold from 128m down-hole.

This second hole intersected:

26m at 0.7 per cent copper from 95m down hole, followed by 105m at 0.4 per cent copper from 175m down-hole.

According to Hot Chili this results has substantially expanded the known extent of the mineralisation at Alice.

 

Cross-section displaying the location of the Alice discovery in relation
to the planned central pit design at Productora. Source: Company
announcement

 

Follow-up holes have also recorded intersections of visual sulphides, with assays pending.

Hot Chili indicated further drilling and analysis is required in order for the style of mineralisation to be confirmed.

“The impact of this discovery on the size and economics of Productora is potentially significant,” Hot Chili managing director Christian Easterday said in the company’s announcement to the Australian Securities Exchange.

“The results so far suggest Alice could make a material contribution to the inventory at Productora and therefore further strengthen the project’s economics through increased scale and mine life.

“The importance of the Alice discovery could be even greater if it is porphyry-style mineralisation because it would suggest there is the potential for a cluster of similar deposits to exist around the planned central pit.”

The Alice deposit is the first confirmation Hot Chili has achieved of mineralisation outside the Productora main zone, which hosts Productora’s entire Mineral Resource of more than 1 million tonnes of copper and 675,000 ounces of gold.

Email: admin@hotchili.net.au

Website: www.hotchili.net.au