Hot Chili has commenced a second phase of diamond drilling aimed at expanding the prospective, higher-grade zone of the Cuerpo 3 porphyry copper-gold ore system within its Cortadera project in central Chile. The company said results from the first phase had exceeded expectations and re-shaped its view of the potential size and grade of the Cortadera discovery.
Hot Chili has commenced a second phase of diamond drilling aimed at expanding the prospective, higher-grade zone of the Cuerpo 3 porphyry copper-gold ore system within its Cortadera project in central Chile.
Previous drilling at Cuerpo 3, the largest of the four porphyries discovered to date at Cortadera, returned a juicy interval of 188 metres grading 0.9% copper and 0.4 grams per tonne gold.
This interval is incorporated within an extensive diamond drilling intersection of 750m @ 0.6% copper and 0.2g/t gold from 204m down-hole that confirmed the discovery of a new bulk tonnage zone.
Management said the results from the first phase program had exceeded expectations, re-shaping the company’s view of the potential size and grade of the Cortadera discovery.
Hot Chili has also secured the services of Dr Steve Garwin, a highly regarded porphyry specialist who is consulting with the company’s exploration team to refine its understanding of Cortadera and assist in drill targeting and design.
Dr Garwin has significant experience, with recent tier-1 copper-gold porphyry discoveries such as SolGold’s giant Cascabel deposit in Ecuador and the Batu Hijau deposit in Indonesia.
Last month, the company outlined the new Cortadera North target covering an area of about two square kilometres and defined by a coincident geophysical induced polarisation chargeable anomaly and strong surface enrichment of the pathfinder element molybdenum.
Its identification followed a detailed review of historical geophysical and geochemical data that Hot Chili inherited after acquiring the assets earlier this year.
Cortadera North was previously delineated but was never drill tested during the period of private project ownership that preceded the company’s interest in exploring the region.
The Cortadera system is outlined by a substantial, alteration-related footprint some 4km long by 3km wide, which includes the new target at Cortadera North.
It is still early days, but Hot Chili’s return to the exciting Cuerpo 3 ore system will be one to watch for the discerning mining connoisseur.