Hot Chili Encounters High-Grade Copper and Silver at Valentina
THE DRILL SERGEANT: Hot Chili (ASX: HCH) reported a new, shallow high-grade, copper-silver drill intersection from the company’s Valentina copper deposit in Chile.
Hot Chili received assays results for hole VALMET0002, which it explained was a twin diamond drill hole of earlier reverse circulation drill hole VAP0009 the company had reported in August 2022.
VALMET0002 recorded 3 metres at 12.1 per cent copper equivalent (CuEq) (11.8% copper & 52.6g/t silver) within a broader drilling intersection of 12m at 4.6 per cent CuEq (4.5% copper & 16.5g/t silver) from 25m depth down-hole.
The company explained the result confirms a 120m extension of high-grade, copper-silver mineralisation to the south of the historical Valentina underground mine and provides material for development-related metallurgical testwork, which it considers key to the inclusion of the Valentina Resource in the Costa Fuego combined prefeasibility study (PFS) due in Q1 2023.
“The new drill result represents exceptional near-surface grades, providing an exciting potential additional front-end ore source for the company’s Costa Fuego coastal range copper-gold development,” Hot Chili said in its ASX announcement.
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