Hot Chili Finds Good Copper and Gold Near Surface in Chile

Good news from Hot Chili in Chile! They found a lot of copper and gold very close to the surface at their La Verde site. This discovery might help them start mining sooner at their large Costa Fuego project. More tests are happening now.
By Newsroom | Mining, Chile |

Recent drilling by Hot Chili at its La Verde copper-gold discovery in Chile has yielded substantial intercepts of shallow, high-grade copper and gold. These results bolster the company's potential for a high-grade starter pit within its broader Costa Fuego project. The company is focused on delineating the extent and grade of this newly discovered mineralized zone.

Context

Hot Chili's La Verde discovery is situated approximately 30 kilometers south of its flagship Costa Fuego project in Chile's Atacama region. Costa Fuego is described as one of the world's largest undeveloped copper projects, with a pre-feasibility study indicating potential for substantial annual production of copper and gold. La Verde's shallow and high-grade mineralisation presents a significant opportunity to potentially enhance early returns from the Costa Fuego development.

Hot Chili stacks shallow high-grade copper hits in Chile - 1

Drilling at La Verde is part of an ongoing program aimed at defining and expanding the copper-gold mineralized system. Assay results from multiple drill holes have been reported, consistently showing wide zones of mineralization near the surface. The company is also awaiting further assay results from ongoing drilling campaigns.

Read More: Kaiser Reef Plans to Make More Gold in Tasmania and Victoria

Key Findings from Drill Results

  • Article 1: An extension hole returned 150 meters grading 0.52% copper equivalent (CuEq) from just 30 meters depth. This included a higher-grade section of 38 meters grading 0.70% CuEq from 117 meters. Another hole reported 220 meters grading 0.47% CuEq from 38 meters depth, with a significant interval of 68 meters grading 0.64% CuEq from 187 meters. Chalcopyrite, a copper sulphide mineral, was logged at an average abundance exceeding 1%, with some zones reaching over 3%.

  • Article 3: A third diamond drill hole from phase two returned 495 meters grading 0.38% copper and 0.10 g/t gold from only 3 meters depth. This broad intercept contained a higher-grade interval of 123 meters grading 0.50% copper and 0.13 g/t gold.

  • Article 7: The first drill hole (DKP001) intersected 174 meters grading 0.4% copper and 0.1 g/t gold from 36 meters depth. The second drill hole (DKP002) returned 308 meters grading 0.5% copper and 0.3 g/t gold from 46 meters depth to the end of the hole, which included 202 meters grading 0.6% copper and 0.3 g/t gold from 70 meters depth.

  • Article 5: One reported hole measured 317 meters grading 0.38% copper and 0.1 g/t gold from 32 meters downhole. This included 47 meters grading 0.57% copper and 0.12 g/t gold from 247.5 meters depth.

Read More: Kaiser Reef to Make More Gold in Victoria and Tasmania

La Verde's Strategic Position

The La Verde discovery is geographically proximate to Hot Chili's main Costa Fuego project. This proximity suggests potential synergies for development and processing infrastructure. The company views La Verde as a significant addition to its growth pipeline, capable of enhancing the overall economic profile of the Costa Fuego hub.

Hot Chili stacks shallow high-grade copper hits in Chile - 2

  • Article 2: La Verde's shallow, high grades are seen as a "transformational opportunity" ahead of bankable studies for Costa Fuego.

  • Article 4: Management highlights that La Verde's success adds momentum to the company's Costa Fuego "starter-pit strategy."

Mineralization Details

The mineralisation identified at La Verde is described as porphyry-style copper-gold. This type of deposit is generally characterized by large volumes of ore, though often with lower grades compared to other deposit types. However, the recent findings at La Verde indicate zones of higher-grade material within the broader system, supporting the potential for a high-grade starter pit. The presence of chalcopyrite is a key indicator of the copper content.

Read More: Aurum Resources Finds More Gold in Côte d’Ivoire

  • Copper Equivalent (CuEq) calculations are used to express the combined value of copper, gold, and other potential metals in a single grade. The formula provided in Article 7 considers the prices and recovery rates of different metals: 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).

Ongoing Exploration and Future Prospects

Hot Chili has a comprehensive drilling program underway at La Verde, with significant metres drilled and many assays pending. The company is actively seeking to expand the known mineralized footprint and refine geological interpretations.

  • As of early 2026, the company had completed substantial drilling, with further holes planned. (Articles 4, 5, 6)

  • The company's objective is to understand the full scale of the La Verde discovery and its potential contribution to the Costa Fuego project.

Read More: Sarytogan Graphite Project in Kazakhstan Reaches Important Milestone

Expert Analysis

The results from La Verde are significant for Hot Chili, particularly due to their shallow nature and high-grade content. This aligns with the industry's ongoing search for economic copper deposits, driven by strong demand. The potential for a "starter pit" suggests that mining could commence on these higher-grade, near-surface zones, potentially generating early cash flow to support further development of the larger Costa Fuego complex.

  • "Porphyry copper mines tend to deliver solid returns over a long period of time – lower in grade but large in tonnage and predictable compared to higher-grade VMS systems." (Article 2) - This statement provides a general context for porphyry deposits, while La Verde's results suggest a potentially more favorable grade profile for a starter operation.

Conclusion

Recent drilling at Hot Chili's La Verde copper-gold discovery in Chile has returned significant, shallow, and high-grade intercepts. These results provide strong evidence for the potential of a high-grade starter pit within the broader Costa Fuego development. The company's ongoing drilling program aims to further define the extent and grade of this mineralized system. The strategic location of La Verde relative to Costa Fuego enhances its importance for Hot Chili's future development plans. Further assay results are awaited, which will be critical in advancing the understanding and potential economic assessment of this discovery.

Sources:

Frequently Asked Questions

Q: What did Hot Chili find in Chile?
Hot Chili found a lot of copper and gold very close to the ground at their La Verde site. This is good news for their bigger Costa Fuego project.
Q: Why is this discovery important?
The discovery is important because the copper and gold are shallow, which means they could start mining there sooner. This could help make money faster for the Costa Fuego project.
Q: What happens next?
Hot Chili is doing more drilling to find out how much copper and gold is there. They are waiting for more test results to understand the discovery better.