Hot Chili is pleased to advise that the potential scale of the Productora copper project in Chile has been enhanced with the discovery of a wide drilling intersection of copper immediately adjacent to the planned central pit area.
• First exploration drilling in more than two years at Productora returns wide intersection from shallow depth, 400m immediately west of the planned central pit
• PRP0851 returned 151m grading 0.4% copper from 116m down-hole depth, including 54m grading 0.5% copper and 0.1g/t gold from 128m down-hole depth
• Awaiting the return of further assays from follow-up drilling before confirming the significance of the drill result
The wide drilling intersection was recorded from shallow depth and is the first confirmation of significant mineralisation outside of the current Productora main zone.
This is important, because the main zone hosts Productora’s entire Mineral Resource, containing over 1Mt of copper and 675,000 ounces of gold.
Mineralisation at the new discovery, known as Alice, is not well understood at this point, and the Company is awaiting results from follow-up drilling.
Several follow-up drill holes have recorded intersections of visual sulphides.
Should results from further exploration prove successful, the Alice discovery may pave the way toward a material upgrade of Productora’s Mineral Resources and Ore Reserves.
Hot Chili’s Managing Director Christian Easterday said the discovery of significant mineralisation outside of the main zone at Productora is very encouraging.
"I look forward to the return of further drilling results from Alice as we focus on assessing the potential of this new discovery."