Hot Chili is fast transforming its La Verde porphyry discovery from what was once a peripheral prospect with potential into a cornerstone asset after the latest round of drilling returned another batch of eye-catching copper-gold hits at its coastal range Costa Fuego project in Chile.

The company has been peppering the deposit with both shallow reverse-circulation (RC) and deeper diamond drilling, with the latest results continuing to build out the scale of the discovery ahead of a planned maiden mineral resource estimate.

Some of the better results from the fresh shallow drilling, designed to delineate a near-surface enrichment zone, include a hefty 250 metre intercept grading 0.50 per cent copper equivalent from 64m. That hit contained a richer core of 36m going 0.72 per cent copper equivalent from 82m.

The campaign produced a number of other stand out shallow hits including a 108m section running at 0.54 per cent copper equivalent from just 24m downhole, including 32m at 0.60 per cent from 24m, with another 124m intercept grading 0.46 per cent copper equivalent from 42m.

Hot Chili says its focus on shallow drilling is delivering outstanding results that will help to firm up a higher-grade La Verde starter pit opportunity for the broader Costa Fuego development.

Meanwhile, step-out diamond drilling aimed at confirming bulk tonnage extensions and expanding the discovery’s high-grade core has also continued to deliver the goods. One of the program’s key holes was designed as a 175m step-out from a previous hole which had recorded the highest-grade and widest drilling intersection to date at the discovery. That previous hit returned a massive 725m intercept grading 0.42 per cent copper equivalent and included a stunning 62m section going 1.03 per cent copper equivalent.

The company says the new result from that key hole has confirmed a significant expansion of La Verde’s eastern flank at depth, returning a 213m intercept grading 0.44 per cent copper equivalent from 504m. The hit included a higher-grade slice of 57.3m at 0.60 per cent copper equivalent from 535.8m.

Adding to what has become a conga line of copper hits, another hole successfully extended a previous RC hole that ended in mineralisation, recording a further 200m of mineralisation downhole across the discovery’s western flank. The new extension delivered a more-than-respectable intercept of 258.9m at 0.42 per cent copper equivalent from 358m, with a richer 27.4m core grading an impressive 0.76 per cent copper equivalent from 499.5m.

With assays pending for another 21 drillholes, plenty of news flow is expected to continue from La Verde. Notably, Hot Chili has flagged assays for a nearby up-dip drillhole are expected soon, adding to the intrigue around La Verde’s shallow, high-grade starter pit potential. The company expects to release a maiden mineral resource estimate for the discovery later this year.

The company says this will be followed by a revised prefeasibility study for the global Costa Fuego project, which will integrate the new La Verde resource. Additionally, the company is working towards the submission of a formal environmental impact assessment for Costa Fuego slated for the second quarter of 2027.

The La Verde discovery sits 30km south of Costa Fuego’s planned central processing hub in Chile’s prolific Atacama region. Hot Chili says Costa Fuego is already ranked amongst the world’s top five independent copper developments by scale amongst those not controlled by a major mining company.

With a maiden resource on the horizon for La Verde and a clear development pathway being mapped out, the prospect is rapidly emerging as a critical component of the greater Costa Fuego copper-gold development. If the trend of the current drill hits continue, Hot Chili might just have a tiger by the tail.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au