Hot Chili adds further copper-gold zone to Productora

THE DRILL SERGEANT: Hot Chili (ASX: HCH) has enjoyed continued
exploration success at the company’s Productora copper project in Chile,
claiming the discovery of another zone of copper-gold mineralisation.

Hot Chili reported that its latest drilling results from Productora have outlined a new copper-gold zone, known as Rocoto, located immediately below the planned central pit design.

The results from Rocoto include:

97 metres at 0.6 per cent copper and 0.1 grams per tonne gold (and 222ppm molybdenum) from 243 metres, including 25m at 1.1 per cent copper and 0.2g/t gold (and 342ppm molybdenum) from 243 metres;

67m at 0.6 per cent copper and 0.2g/t gold (and 354ppm molybdenum) from 132m, including 25m at 1 per cent copper and 0.2g/t gold (and 403ppm molybdenum) from 149m; and

54m at 0.7 per cent copper and 0.2g/t gold (and 197ppm molybdenum) from 173m.

New drilling intersections at Rocoto in relation to the planned central pit design at Productora. Source: Company announcement

Hot Chili said it considered these recent results to be important as they demonstrate the potential for resource growth within development distance of the project’s current planned central pit.

“Rocoto was identified using the same advanced targeting technique that led to the discovery last year of the high-grade Habanero zone at Productora,” Hot Chili said in its ASX announcement.

“This is important because Hot Chili now has two firm pieces of evidence that this technique, which identified a total of eight targets close to the central pit, is extremely effective.”

The company indicated its intention now is to progressively drill test these other targets during 2014.

The Rocoto discovery comes as Hot Chili finalises the maiden reserve estimate and revised resource for Productora, which is expected to be released in the current quarter.

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Website: www.hotchili.net.au