Hot Chili (HCH) announced results for the two latest diamond drill holes into the Cuerpo 3 porphyry, part of the Cortadera Copper-Gold Project in Chile. Hole CRP0016D extended the high-grade core of the porphyry, intercepting 190m at 0.6% Cu and 0.2g/t Au from 392m downhole. Disappointingly, hole CRP0042D veered off target, but still recorded a lower-grade intercept of 314m at 0.4% Cu and 0.1g/t Au from 616m downhole. The next phase of drilling will focus on other known porphyrys (Cuerpo 2) and targets (Cuerpo North and Cortadera North) in the greater project area. A maiden Mineral Resource for Cortadera is being finalised and expected to be released in the coming weeks. HCH recently released preliminary metallurgical test results for Cuerpo 3 with copper recoveries of 89-95%. SPEC BUY recommendation with a $0.06/sh target price.
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