Drill Results
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.
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.
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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.
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Jul 07, 2026 · 07:00