Hot Chili (ASX:HCH) said the DKD039 diamond drill hole has returned the "most significant result to date" at its La Verde copper-gold discovery in Chile, according to a Wednesday filing with the Australian bourse.

The ongoing drilling intersected 725 meters grading 0.42% copper equivalent from a depth of 18 meters, confirming "a major extension" to the deposit's growing high-grade core, the company said.

Results included 22 meters at 0.71% copper equivalent from 42 meters, 46 meters at 0.65% copper equivalent from 249 meters, 51 meters at 0.62% copper equivalent from 433 meters, and 62 meters 1.03% copper equivalent from 671 meters of depth, per the filing.

Hot Chili said drilling operations are accelerating with two drill rigs on site and a third planned for mobilization in May.

The company's shares gained 21% higher in recent trading.