New Discovery at Costa Fuego Copper-Gold Mine in Chile

Hot Chili Limited has confirmed a significant discovery 30 km south of the proposed processing center at the Costa Fuego copper-gold project in the Atacama Region of Chile.

This porphyry copper-gold deposit, named La Verde, has shown extensive mineralization in the first two drill holes, with the specific ore details as follows:

Mineralization was encountered from a depth of 46 meters to the end of the hole, with a thickness of 308 meters, copper grade of 0.5%, and gold at 0.3 g/mt, including 202 meters of mineralization from a depth of 70 meters, with a copper grade of 0.6% and gold at 0.3 g/mt.

Historically, La Verde was mined as an open pit, with only limited drilling conducted around the pit.

The company is executing a 4,000-meter drilling program, with 12 reverse circulation drill holes completed so far, totaling 3,150 meters. Currently, assay results are available only for the first two drill holes (DKP001 and DKP002).

The purpose of the first two drill holes was to validate previous drilling results and to investigate the northern extension of the orebody from the open pit (400 m × 200 m).

Recent work has confirmed the previous drilling results and identified that the orebody extends at least 400 meters to the northeast from the open pit. Additionally, mineralization has been found beneath the cover.

La Verde shares similar characteristics with Hot Chili Limited's Cortadera porphyry copper-gold deposit, located 30 km north of La Verde.