Hot Chili Releases Quarterly Activity Statement and 5B Cash Flow Report for Quarter ended 31 December 2022
Hot Chili Releases Quarterly Activity Statement and 5B Cash Flow Report for Quarter ended 31 December 2022
Perth, Australia - Hot Chili Limited (TSXV:HCH) (ASX:HCH) OTCQX:HHLKF) (the “Company” or “Hot Chili”) is pleased to announce that its has filed its Q2 2022 Quarterly Activity Report.
The complete report is available under the Company’s profile at www.asx.com, www.sedar.com and on Hot Chili’s website (www.hotchili.net.au) .
Highlights include :
- Consolidation Efforts Secure Major Extensions to Cortadera
- Access Granted by Chilean Naval Authority to Maritime Concession Land for Costa Fuego
- Appointment of New Canadian Director Stephen Quin
- Final 2022 Metallurgical Drill Results confirm robust resource estimate for Productora
- MET026 - 80m1 grading 0.7% CuEq* (0.6% Cu, 0.2g/t Au) from 101m downhole
including 23m grading 1.0% CuEq (0.9% Cu, 0.2g/t Au) from 101m
- MET028 - 277m2 grading 0.5% CuEq (0.4% Cu, 0.1g/t Au) from 49m downhole
including 46m grading 1.1% CuEq (1.0% Cu, 0.2g/t Au) from 280m
- Next Growth Phase Begins with Drilling Underway, Strong Cash Balance of A$10.8M
- Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne ×
Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. The entirety of the intersection is assumed as fresh. The recovery and copper equivalent formula for Productora is: Recoveries of 84% Cu, 47% Au, 47% Mo and 0% Ag (not reported). CuEq(%) = Cu(%) + 0.48 x Au(g/t) + 0.00026 x Mo(ppm).
1,2 Drillholes previously reported only metallurgical samples (see ‘New High-Grade Results from Costa Fuego’ dated 19th July 2022. Subsequent entire drillhole analysis then completed
This announcement is authorised by the Board of Directors for release to ASX and TSXV.
For more information please contact:
Christian Easterday Tel: +61 8 9315 9009
Managing Director – Hot Chili Email: [email protected]
Penelope Beattie Tel: +61 8 9315 9009
Company Secretary – Hot Chili Email: [email protected]
ASX Investor
Investor & Public Relations (Australia) Email: [email protected]
Harbor Access Email:[email protected]
Investor & Public Relations (Canada) Email:[email protected]
or visit Hot Chili’s website at www.hotchili.net.au
Qualifying Statements
Forward Looking Statements
This Announcement is provided on the basis that neither the Company nor its representatives make any warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the Announcement and nothing contained in the Announcement is, or may be relied upon as a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law. The Announcement contains material which is predictive in nature and may be affected by inaccurate assumptions or by known and unknown risks and uncertainties and may differ materially from results ultimately achieved.
The Announcement contains “forward-looking statements”. All statements other than those of historical facts included in the Announcement are forward-looking statements including estimates of Mineral Resources. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, copper, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events or circumstances after the date of the Announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. All persons should consider seeking appropriate professional advice in reviewing the Announcement and all other information with respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision of the Announcement nor any information contained in the Announcement or subsequently communicated to any person in connection with the Announcement is, or should be taken as, constituting the giving of investment advice to any person
Disclaimer
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