Diamond drilling commences at La Verde Cu-Au porphyry discovery in Chile

PERTH, AUSTRALIA (By Hot Chili, 25.Sep.2025, Words: 291) — Hot Chili Limited announced that diamond drilling has commenced at the La Verde copper-gold (Cu-Au) discovery, located 30km south of the company’s Costa Fuego Cu-Au project planned central processing hub at low elevation in the coastal range of the Atacama region, Chile.

Diamond drilling commenced on 22 Sep. 2025 with 1 drill rig in operation on a double-shift basis. This second phase of drilling at La Verde aims to significantly expand the initial shallow porphyry discovery.

Phase-2 drilling follows the success of the company’s first-pass reverse circulation (RC) drill program, which confirmed a significant +0.2% Cu discovery footprint measuring 1,000m by 750m and extending up to 400m vertical depth. 

Importantly, over half of Hot Chili’s first pass drill holes ended in significant mineralisation at the capacity of RC drilling, leaving the porphyry discovery open at depth and laterally.

To date, 3 spatially distinct higher-grade centres have been confirmed from near surface (refer announcement dated 19 May 2025).  Phase-2 diamond drilling will target depth extension to these high-grade centres.

Impact modeling by Hot Chili has outlined the potential for significant additional open pit material to be added to the front-end of Coast Fuego’s 20 year mine schedule, providing both mine life growth and materially enhanced financial metrics to Hot Chili’s Mar. 2025 Pre-feasibility Study for Costa Fuego.

Regulatory applications for further drill access at La Verde are currently in the final stages of approval and will provide access to test lateral extensions to the discovery footprint, as well as several nearby “look-alike” targets.

The company looks forward to providing further updates on the results from drilling activities at La Verde.  

This announcement is authorized by the Board of Directors for release to ASX and TSXV.

Figure 1. Location of La Verde in relation to Costa Fuego, coastal range Chile (CNW Group/Hot Chili Limited)
Figure 2. Plan view map of the La Verde porphyry system showing planned drilling compared with +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (Magenta) mineralisation interpolants from Phase 1 drilling. Conceptual open pit shells1 displayed for $US3.50/lb Cu (blue) and $US6.00/lb Cu (green) displayed as dashed lines. A – A’ indicates position of long section in Figure 3. B – B’ and C – C’ indicate the position of cross sections in Figure 4. D – D’ and E – E’ indicate the position of cross sections in Figure 5. (CNW Group/Hot Chili Limited)
Figure 2. Plan view map of the La Verde porphyry system showing planned drilling compared with +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (Magenta) mineralisation interpolants from Phase 1 drilling. Conceptual open pit shells1 displayed for $US3.50/lb Cu (blue) and $US6.00/lb Cu (green) displayed as dashed lines. A – A’ indicates position of long section in Figure 3. B – B’ and C – C’ indicate the position of cross sections in Figure 4. D – D’ and E – E’ indicate the position of cross sections in Figure 5. (CNW Group/Hot Chili Limited)
Figure 3. NNW facing longitudinal section (A – A’) of the La Verde porphyry system showing planned diamond drill hole traces, and planned RC collars compared to +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (Magenta) mineralisation interpolants from returned assay results. Weathering profile displayed as top of fresh material (black line). Returned Cu grades graphed downhole along hole traces (grey). Conceptual open pit shells1 displayed for $US3.50/lb Cu (blue) and $US6.00/lb Cu (green) displayed as dashed lines. (CNW Group/Hot Chili Limited)

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