Hot Chili (ASX:HCH) said assays from phase-one reverse circulation drilling confirmed copper-gold mineralization extends over one kilometer in length and up to 750 meters in width, from near-surface at the La Verde discovery in Chile, according to a Monday Australian bourse filing.
Significant intercepts encountered during drilling included 389 meters grading 0.4% of copper and 0.1 grams per tonne grade of gold from four meters to end-of-hole, as well as 120 meters grading 0.4% of copper and 0.1 g/t of gold from six meters. Multiple distinct higher-grade centers have been confirmed from near-surface.
Regulatory applications for further drill access at La Verde are advancing, with phase-two drilling planned to begin once approvals are received.
Its shares fell 4% in recent trading on Monday.
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