Hot Chili (ASX:HCH) received "strong" copper-gold results from its La Verde discovery in Chile, with grades exceeding visual expectation, according to a Tuesday filing with the Australian bourse.

Drilling intersected 391 meters grading 0.51% copper equivalent from surface, including nearly 18 meters grading 0.68% copper equivalent from surface, and almost 41 meters grading 0.6% copper equivalent from 103 meters, the filing said.

Assay results are pending for six diamond drill holes and 16 reverse circulation drill holes, per the filing.

Shares fell 1% in midday trade on Tuesday.