Hot Chili Discovers Second Porphyry Centre at La Verde Copper-Gold Deposit in Chile

Hot Chili has discovered a second porphyry centre at its La Verde copper-gold deposit, 30 kilometres south of a planned central processing hub for its Costa Fuego project in Chile's coastal Atacama region. TradingView reported the step-out drilling results on October 18, 2026.

Hot Chili's Step-Out Drilling at La Verde

Step-out drilling with two rigs tested for extensions south of a reverse circulation hole drilled in May 2025 that recorded 114m at 0.4% CuEq (0.4% copper) from 86m, including 52m grading 0.5% CuEq (0.5% copper and 0.1g/t gold) from 96m. The first new reverse circulation hole, located 250 metres south of the deposit's +0.4% copper mineralisation footprint, delivered 148m at 0.44% copper equivalent (0.39% copper and 0.07 grams per tonne gold) from 36m, including 44m at 0.56% CuEq (0.5% copper and 0.06g/t gold) from 138m.

Hot Chili then mobilised a diamond drill rig to test for higher-grade copper porphyry-style sulphide mineralisation below the wide oxide zone. The company visually recorded a 307m interval of strong copper porphyry-style mineralisation, associated with copper clays, malachite and black copper oxide mineralogy, in the first diamond hole, collared 100m south of the first reverse circulation hole. A further wide zone of strong porphyry-style sulphide mineralisation, associated with disseminated chalcopyrite and porphyry-style A, B and C veining, was encountered between 172m and 347m current depth, with drilling continuing to a planned depth of 500m.

Managing director Christian Easterday said the initial step-out results provided another boost to the company's growth plans for Costa Fuego. "We are very pleased with the results from our first step-out drilling campaign to the south of La Verde, which confirmed a second porphyry centre concealed beneath shallow Atacama gravels with potential to be of similar scale to La Verde," he said.

Hot Chili's Costa Fuego Project Scale

Hot Chili is a pre-revenue Australian-listed copper developer advancing the Costa Fuego copper-gold project in Chile's Atacama region through feasibility and permitting, supplemented by the La Verde discovery and the Huasco Water joint venture, according to akta.pro company records. The same records list a Costa Fuego mineral resource of 798 Mt at 0.45% CuEq Indicated and 203 Mt at 0.31% CuEq Inferred, effective February 26, 2024, and a probable mineral reserve of 502 Mt at 0.37% copper, effective March 27, 2025. The 2025 pre-feasibility study gives a production profile of 116 ktpa CuEq for 14 years, with a 74 ktpa CuEq life-of-mine average over 20 years.

Earlier La Verde Drilling Results

Hot Chili reported a 472-meter intersection grading 0.41% CuEq at La Verde in August 2026, according to Stock Titan. In its quarterly report for the period ending June 30, 2026, the company reported intersections including 391.1m grading 0.51% CuEq from surface and 250m grading 0.50% CuEq from 64m depth, Yahoo reported in July 2026. PR Newswire reported in July 2026 that drilling results including 250m grading 0.50% CuEq and 258.9m grading 0.42% CuEq continued to expand the near-surface high-grade mineralisation footprint.

La Verde Resource Estimate and Permitting

Hot Chili will test La Verde South alongside infill drilling at La Verde before completion of a maiden mineral resource estimate later this year. The estimate, a revised Costa Fuego pre-feasibility study and preparation of an environmental impact assessment submission remain on track for completion in the new year.