Latest Drilling Lifts Growth Potential of La Verde's High-Grade Copper-Gold Core
Highlights
- Latest drill results from the Company's La Verde copper-gold (Cu-Au) discovery in coastal Chile continue to boost expectations, with several significant intersections of strong mineralisation visually1 confirmed across key extensions:
- Eastern Flank – Broad 180 m zone of chalcopyrite-rich, porphyry-style copper mineralisation, significantly extends the width of La Verde's high-grade core (DKD049)
- Higher-Grade Starter Pit – Three wide visual drill intersections of strong porphyry-style mineralisation from near-surface, add further up-dip continuity to La Verde's high-grade core (DKP052, DKP053 and DKP054 recording widths of 205m, 256m and 129m respectively)
- Latest assay results from DKD040 confirm better-than-expected mineralisation in an area previously interpreted as lower grade from earlier first-pass Reverse Circulation (RC) drilling:
- 86.6 m grading 0.45% CuEq2 (0.34% Cu, 0.15 g/t Au) from 4.4 m depth
- 163.9 m grading 0.43% CuEq (0.34% Cu, 0.11 g/t Au) from 185.2 m depth
- Assay results pending for 14 drill holes (eight diamond and six RC), third drill rig expected to commence in coming week
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1 Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Assay results are pending and will be reported in accordance with the JORC Code (2012) and National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Sampling methodologies are described in the attached JORC Table 1. |
2 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=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh. The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu(%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t). |
PERTH, Australia, May 5, 2026 /PRNewswire/ - Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or the "Company") is pleased to provide another positive drilling update from its La Verde Cu-Au porphyry discovery (La Verde), located 30 km south of the Company's Costa Fuego Cu-Au Project planned central processing hub in Chile's coastal Atacama region.
Results to date confirm continued growth of the deposit's high-grade core and increasing confidence in continuity of higher grade near-surface mineralisation.
![Core photo from DKD049 (541 m downhole) showing vein-hosted and disseminated chalcopyrite and pyrite mineralisation in strongly A-B veined tonalite host rock. Broad 180 m down-hole visual drill intersection represents a significant 175 m step-out to La Verde’s high-grade core along its eastern flank, assay results expected May 2026[1] (CNW Group/Hot Chili Limited)](https://mma.prnewswire.com/media/2972328/Hot_Chili_Limited_Latest_Drilling_Lifts_Growth_Potential_of_La_V.jpg?w=350 "Core photo from DKD049 (541 m downhole) showing vein-hosted and disseminated chalcopyrite and pyrite mineralisation in strongly A-B veined tonalite host rock. Broad 180 m down-hole visual drill intersection represents a significant 175 m step-out to La Verde’s high-grade core along its eastern flank, assay results expected May 2026[1] (CNW Group/Hot Chili Limited)")
![Figure 2. Plan view map of La Verde showing recent drill hole result DKD040 and several previously returned higher-grade significant intersections compared with updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Drilled holes with pending assays are shown in black. Position of A – A’ cross section (Figure 3), B – B’ cross section (Figure 4) and C-C’ long section (Figure 5) annotated with white dashed lines. Conceptual open pit shells1 displayed for $US3.50/lb Cu (blue) and $US6.00/lb Cu (green) displayed as dashed lines. Results reported including CuEq[2], drill holes displaying visual estimates noted[3]. (CNW Group/Hot Chili Limited)](https://mma.prnewswire.com/media/2972330/Hot_Chili_Limited_Latest_Drilling_Lifts_Growth_Potential_of_La_V.jpg?w=350 "Figure 2. Plan view map of La Verde showing recent drill hole result DKD040 and several previously returned higher-grade significant intersections compared with updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Drilled holes with pending assays are shown in black. Position of A – A’ cross section (Figure 3), B – B’ cross section (Figure 4) and C-C’ long section (Figure 5) annotated with white dashed lines. Conceptual open pit shells1 displayed for $US3.50/lb Cu (blue) and $US6.00/lb Cu (green) displayed as dashed lines. Results reported including CuEq[2], drill holes displaying visual estimates noted[3]. (CNW Group/Hot Chili Limited)")
![Figure 3. Cross section slice along DKD040 (± 75m clipping) showing +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants and returned assay results for DKD040. Returned Cu grades shown on hole traces. Results reported including CuEq[1]. (CNW Group/Hot Chili Limited)](https://mma.prnewswire.com/media/2972331/Hot_Chili_Limited_Latest_Drilling_Lifts_Growth_Potential_of_La_V.jpg?w=350 "Figure 3. Cross section slice along DKD040 (± 75m clipping) showing +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants and returned assay results for DKD040. Returned Cu grades shown on hole traces. Results reported including CuEq[1]. (CNW Group/Hot Chili Limited)")
![Figure 4. Cross section slice along DKD049 (± 75m clipping) showing +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on hole traces. Previous results reported by CuEq1, visual estimate from DKD049 shown[2]. (CNW Group/Hot Chili Limited)](https://mma.prnewswire.com/media/2972333/Hot_Chili_Limited_Latest_Drilling_Lifts_Growth_Potential_of_La_V.jpg?w=350 "Figure 4. Cross section slice along DKD049 (± 75m clipping) showing +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on hole traces. Previous results reported by CuEq1, visual estimate from DKD049 shown[2]. (CNW Group/Hot Chili Limited)")
![Figure 5. NNW facing longitudinal section of the La Verde porphyry system showing +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants, recent drill hole result DKD040 and several previously returned higher-grade significant intercepts. Returned Cu grades shown on hole traces. Drilled holes with pending assays shown in black. Results reported by CuEq[1], drill holes displaying visual estimates noted[2]. (CNW Group/Hot Chili Limited)](https://mma.prnewswire.com/media/2972334/Hot_Chili_Limited_Latest_Drilling_Lifts_Growth_Potential_of_La_V.jpg?w=350 "Figure 5. NNW facing longitudinal section of the La Verde porphyry system showing +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants, recent drill hole result DKD040 and several previously returned higher-grade significant intercepts. Returned Cu grades shown on hole traces. Drilled holes with pending assays shown in black. Results reported by CuEq[1], drill holes displaying visual estimates noted[2]. (CNW Group/Hot Chili Limited)")
