Hot Chili identifies four new copper targets at Productora

THE DRILL SERGEANT: Hot Chili (ASX: HCH) has identified four more large copper porphyry targets at the company’s Productora project in Chile.

Hot Chili explained it had used a cutting-edge geophysical survey to identify the four copper porphyry targets.

The company claims the new targets to be a breakthrough for the project, which it believes could transform Productora into a Tier-1 copper asset.

The targets are in addition to the Alice copper porphyry deposit Hot Chili established at Productora late last year, and have been shon from the survey to be the likely sources of a plus-6.5 kilometre-long copper porphyry footprint previously identified at Productora.

The company considers the latest results to be exceptionally promising as it thinks they could lead to a substantial increase in the copper inventory of the project, which currently stands at one million tonnes of copper and 675,000 ounces of gold, thus increasing the production rate and mine life of Productora.

“Targets of these sizes have strong potential to transform Productora into a Tier-1 project of global significance,” Hot Chili managing director Christian Easterday said in the company’s announcement to the Australian Securities Exchange.

“The impact this breakthrough could have on the project’s economics and mine life is substantial.”

Hot Chili is due to complete a Pre-feasibility Study (PFS) on Productora this year, which will include all drilling results received to date.

All results from drilling undertaken from now on, including at the porphyry targets, will be included in next year’s Definitive feasibility study (DFS) ahead of Hot Chili and its partner CMP’s decision to mine.

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Website: www.hotchili.com.au