EXPLORATION & DEVELOPMENT

Copper drilling encouragement for Hot Chili

Rigs remain in action as feasibility work progresses

Staff Reporter

This article is 2 years old. Images might not display.

The company said an update on feasibility work would be given shortly.

The latest drilling included an intercept of 658m grading 0.6% copper equivalent from 232m down hole, within which a 130m interval graded 0.9% copper equivalent from 662m.

Cortadera currently has an indicated resource of 471 million tonnes grading 0.46% copper equivalent.

"Upgrading our resources with wide drill intersections grading 0.8% to 1.0% copper equivalent is a great outcome, which demonstrates the quality and growth potential of Costa Fuego as one of the only low-altitude, material, copper developments in the world capable of near-term development," Hot Chili managing director Christian Easterday said in a market statement.

Hot Chili started the current quarter with A$28.3 million of cash.

Shares in Hot Chili were up 2% to $1.21 in morning trade, capitalising the company at $136 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.