Hot Chili Releases Quarterly Activity Statement and 5B Cash Flow Report for
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
o 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
o 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 equ ivalent 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
Managing Director – Hot Chili
Tel: +61 8 9315 9009
Email: [email protected]
Penelope Beattie
Company Secretary – Hot Chili
Tel: +61 8 9315 9009
Email: [email protected]
ASX Investor
Investor & Public Relations (Australia)
Email: [email protected]
Harbor Access
Investor & Public Relations (Canada)
Email:[email protected]
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 i n nature and
may be affected by inaccurate assumptions or by known and unknown risks and uncertainties and may differ materially from resu lts
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 expres sed,
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 u nder applicable securities laws.
All persons should consider seeking appropriate professional advice in reviewing the Announcement and all other information w ith
respect to the Company and evaluating the business, financial performance and operations of th e 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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture
Exchange) accepts responsibility for the adequacy or accuracy of this news release.