Hot Chili's Habanero discovery delivers
PERTH (miningweekly.com) – Copper hopeful Hot Chili was confident that it could improve the economics of its flagship Productora project, in Chile, by incorporating new drill results from the Habanero discovery.
The developer said this week that drilling had returned grades of up to 1.6% copper and 0.4 g/t gold from the Habanero discovery, and indicated that the mineralisation dipped to the east, while most mineralisation at Productora dipped to the west, indicating a strong potential for repeats of Habanero.
Hot Chili pointed out that Habanero was located in an area of the planned pit that was previously considered to be waste, and as such, stood to boost Productora’s economics substantially.
The junior was awaiting the results of a further ten drill holes, and was also redirecting two reverse circulation drill rigs to further extensional drilling at Habanero.
Habanero was expected to feature prominently in Hot Chili’s upcoming resource upgrade at Productora.
The project currently has a total mineral resource of some 165.2-million tonnes, grading 0.6% copper, 0.1 g/t gold and 132 g/t molybdenum for 920 000 t of copper, 580 000 oz of gold and 22 000 t of molybdenum.
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