Hot Chili found a large copper-gold deposit in Chile, extending mineralization to 600 meters and boosting project value.

Hot Chili has discovered a significant copper-gold porphyry system at its La Verde project in Chile’s Atacama region, with a 529-meter drill hole grading 0.41% copper and 0.21 grams per tonne gold, extending high-grade mineralization to 600 meters depth and widening the strike. Five additional drill holes confirmed porphyry-style mineralization beyond previous limits, indicating the deposit remains open. Magnetic modeling identified three new targets along a geological trend, suggesting potential for a cluster of deposits. Located near infrastructure and just 30 km from a planned processing plant, the discovery could enhance Hot Chili’s Costa Fuego project, supporting a 20-year mine plan and boosting economic prospects. The project’s pre-feasibility study projected a US$1.2 billion post-tax NPV under current commodity prices.