Northwire Canada EditionMonday, August 24, 2026
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GOLD 4720.40 +0.8% SILVER 69.34 −0.3% COPPER 6.60 +0.2% OIL 85.55 −1.7% PALLADIUM 1355.50 +0.4% EML 0.235 +0.0% AVU 0.040 +0.0% LIB 0.760 +0.0% SHL 0.415 +0.0% RRI 0.365 +0.0% FFM 1.87 +0.0% TBK 0.360 +0.0% AHR 1.12 +0.0% VGD 0.130 +0.0% HART 0.240 +0.0% XGC 0.230 +0.0% FAS 0.095 +0.0% ONAU 0.690 +0.0% PEMC 0.065 +0.0% NAR 0.265 +0.0% GSR 0.400 +0.0% GOLD 4720.40 +0.8% SILVER 69.34 −0.3% COPPER 6.60 +0.2% OIL 85.55 −1.7% PALLADIUM 1355.50 +0.4% EML 0.235 +0.0% AVU 0.040 +0.0% LIB 0.760 +0.0% SHL 0.415 +0.0% RRI 0.365 +0.0% FFM 1.87 +0.0% TBK 0.360 +0.0% AHR 1.12 +0.0% VGD 0.130 +0.0% HART 0.240 +0.0% XGC 0.230 +0.0% FAS 0.095 +0.0% ONAU 0.690 +0.0% PEMC 0.065 +0.0% NAR 0.265 +0.0% GSR 0.400 +0.0%
Drill Results Routine +

La Verde Delivers Another Strong Copper-Gold Drill Result 391 m grading 0.51% CuEq from Surface

Hot Chili’s La Verde discovery expands near-surface copper-gold mineralization, reinforcing Costa Fuego’s starter pit potential ahead of its maiden resource.

By The Northwire Desk — AI Analysis Jun 16, 2026 · 07:55 HCH · 1.85 Hot Chili Limited
Executive Summary
  • Hot Chili Limited reported drill results from hole DKD044 at the La Verde discovery, intersecting 391.1 meters grading 0.51% CuEq from surface.
  • Additional holes DKD042 and DKP041 confirmed and expanded near-surface, bulk tonnage mineralization.
  • The results reinforce the potential for a high-grade starter pit at the adjacent Costa Fuego project.
  • Three drill rigs are currently active, and a second ISO-accredited laboratory has been engaged to accelerate assay turnaround times.
  • Assay results are pending for 22 drill holes, with results expected in the coming weeks ahead of a maiden Mineral Resource Estimate and a revised Pre-Feasibility Study.
Material Impact
  • The June 16, 2026 drill results are consistent with the progressive expansion of the La Verde discovery reported throughout 2025 and early 2026.
  • Previous announcements in February, April, and May 2026 already highlighted the convergence of a high-grade core and near-surface bulk tonnage. This release is an incremental validation rather than a fundamental shift in the project model.
  • The acceleration of drilling operations and engagement of a second laboratory are operational efficiencies that support the timeline for the maiden MRE and revised PFS.
  • No new strategic partnerships, financing, or changes to commodity price assumptions were disclosed. The market likely priced in the continued definition drilling given the company's stated milestones.
  • The news is positive but expected, serving as a stepping stone toward the critical resource and economic studies.
HCH · Price
Company Overview
  • Hot Chili Limited is a mining company focused on the Costa Fuego copper-gold project in Chile's coastal Atacama region.
  • The flagship project includes the Costa Fuego mine plan and the La Verde discovery, located approximately 30 to 35 kilometers south of the planned processing hub.
  • The company also holds the Huasco Water project, which is critical for mine operations.
  • The Costa Fuego project has completed an optimized Pre-Feasibility Study (March 2025) projecting a 20-year mine life, 116 ktpa CuEq production, a post-tax NPV of US$1.20 billion, and an IRR of 19%.
  • C1 cash costs are estimated at US$1.38/lb Cu, with by-product credits from gold, molybdenum, and silver.
  • La Verde remains in the exploration/discovery phase, with drilling aimed at defining a resource that could feed a higher-grade starter pit.
Read the original news release →

More from Hot Chili Limited

Aug 24, 2026 · 07:00

Hot Chili reports high-grade porphyry intersections at La Verde, including 1.5 g/t gold over 12 metres and 2.1 g/t gold over 8 metres.

Drill Results Jul 30, 2026 · 07:00

Hot Chili reports La Verde drill results including 1.5 g/t gold over 12 metres alongside a new royalty financing agreement.

Drill Results Jul 28, 2026 · 07:00

Hot Chili’s La Verde porphyry drill results extend the deposit and bolster pre-resource bulk tonnage following prior blockbuster holes.

Drill Results Jul 07, 2026 · 07:00

Hot Chili advances La Verde drilling ahead of its maiden resource through a non-dilutive royalty deal.

Financings May 05, 2026 · 07:00

Hot Chili Drilling Confirms La Verde Starter Pit Potential Amidst Copper Rally

Drill Results Apr 30, 2026 · 07:00

Hot Chili Confirms Funding and Feasibility Path Amidst Copper Rally, Shares Consolidate Post-Placement

Drill Results