Regulatory gives go ahead for La Verde Cu-Au discovery expansion drilling

PERTH, AUSTRALIA (By Hot Chili, 9.Oct.2025, Words: 408) — Hot Chili Limited announced receipt of regulatory approval to expand drill coverage across the La Verde copper-gold (Cu-Au) discovery, located approximately 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.

Regulatory green light for La Verde refers to a Sectoral Permit, which is the appropriate regulatory authorization for a project of this scale. A full DIA (Environmental Impact Declaration) would be processed in a next drilling stage following current regulations. Hot Chili remains fully committed to transparency and environmental responsibility in every stage of the project.

The approval follows the commencement of phase 2 diamond drilling (single drill rig, double shift) from existing drill platforms at La Verde on 22 Sep. 2025. 

Figure 1. Location of La Verde in relation to Costa Fuego, coastal range Chile (CNW Group/Hot Chili Limited)

Diamond drilling is currently testing depth extensions to higher grade centers within the current +0.2% Cu discovery footprint, which measures 1,000m by 750m and extends up to 400m vertical depth (refer announcement dated 19 May 2025).

Two diamond drill holes of an eleven-hole program are already complete. Both diamond drill holes have visually recorded wide intersections of porphyry-style copper mineralization and assay results are pending. Results will be announced to ASX on receipt of assays in coming weeks.

Figure 2. Plan view map of the La Verde porphyry system showing approved extensional collar locations (red points), planned (white traces) and completed DD drilling (black) compared with +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (Magenta) mineralisation interpolants from Phase one drilling. Conceptual open pit shells1 displayed for $US3.50/lb Cu (blue) and $US6.00/lb Cu (green) displayed as dashed lines. See announcement dated 25 September 2025 for JORC Table 1 additional technical information. (CNW Group/Hot Chili Limited)

Note: 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.

This recent regulatory approval allows Hot Chili to continue expanding the La Verde discovery, providing access to test:

  1. Further lateral and along-strike extensions to the La Verde discovery footprint, and
  2. Potential for La Verde to be part of a district-scale copper porphyry cluster, with three nearby look-alike targets set for first-pass drilling.
Figure 3. Plan view showing the La Verde +0.2% Cu mineralisation interpolant in relation to regional magnetic destruction footprint (red dashed), local magnetic low features (white dashed), weakly magnetic anomalies (white line) and Fathom 3D geochemical probability models (purple isosurfaces). Left – shown overlain on reduced-to-the-pole (RTP) ground magnetics. Right – shown in relation to mapped gravel cover, interpreted regional structures and soil sample coverage. See announcement dated 29 May 2025 for JORC Table 1 additional technical information. (CNW Group/Hot Chili Limited)

Drill platform clearing is planned to start ahead of the arrival of a second drill rig (Reverse Circulation) to accelerate phase 2 drilling at La Verde.

Phase one drill results have already demonstrated significant potential for resource growth and additional front-end open pit mine life, materially enhancing the economics of Hot Chili’s Mar. 2025 Pre-feasibility Study for Costa Fuego.

La Verde is shaping to be a significant growth engine, and the company looks forward to providing further updates on the results from drilling activities.

This announcement is authorized by the board of directors for release to ASX and TSXV.

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