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With Another Standout Result of 106m grading 0.70% CuEq Recorded Within 472 m grading 0.41% CuEq1 from 49 m Highlights Strong drill results continue as Hot Chili accelerates its integration of the La Verde porphyry discovery into the Company's Costa Fuego copper-gold (Cu-Au) project, located in Chile's coastal range. Recently returned Reverse Circulation (RC) and Diamond (DD) drill results continue to expand La Verde's high-grade core, and confirm strong continuity of shallow, wide zones of Cu-Au mineralisation ahead of a planned maiden Mineral Resource Estimate (MRE).
Highlights Hot Chili's La Verde porphyry discovery is fast-shaping from growth engine to cornerstone asset for the Company's coastal range Costa Fuego copper-gold (Cu-Au) project in Chile. Several recently returned Reverse Circulation (RC) and Diamond (DD) drill results continue to strengthen La Verde's significance ahead of a planned maiden Mineral Resource Estimate (MRE).
La Verde Added to Costa Fuego Royalty Footprint PERTH, Australia, July 7, 2026 /PRNewswire/ -Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or "Company") is pleased to announce the execution of a binding Amended and Restated Investment Agreement (the "A&R Investment Agreement") with OR Royalties Inc., formerly Osisko Gold Royalties Ltd ("OR") pursuant to which the Company has agreed to grant to OR a Net Smelter Return ("NSR") royalty on the Company's La Verde Project, as part of the broader Costa Fuego Cu-Au Project ("Costa Fuego" or "the Project"), in consideration for cash payment of US$15 million. The A&R Investment Agreement brings total royalty consideration under the OR royalty arrangement to US$30 million (see the Company's press releases dated 28 June 2023, and 26 July 2023) with Hot Chili to receive US$15 million ("Royalty Consideration") at closing of the transactions contemplated by the A&R Investment Agreement.
Highlights Latest assay results have returned grades well above visual expectation in diamond drill hole DKD044, adding to La Verde's rise as one of Chile's most significant new coastal copper-gold (Cu-Au) porphyry discoveries DKD044 recorded 391.1 m grading 0.51% CuEq1 (0.42% Cu, 0.11 g/t Au) from surface, including: 17.8 m grading 0.68% CuEq (0.63% Cu, 0.06 g/t Au) from surface 40.7 m grading 0.60% CuEq (0.50% Cu, 0.12 g/t Au) from 103.3 m 85.4 m grading 0.61% CuEq (0.50% Cu, 0.15 g/t Au) from 160 m 19.7 m grading 0.70% CuEq (0.57% Cu, 0.15g/t Au) from 276.1 m These results continue to demonstrate strong continuity of shallow, higher grade, copper-gold mineralisation, underpinning a growing high-grade starter pit opportunity for the Company's Costa Fuego Cu-Au project Assay results are pending for 22 drill holes (six diamond and 16 reverse circulation) including DKD049, DKP052, DKP053 and DKP054 which are expected to confirm significant extensions to La Verde's high-grade core2 Second ISO-accredited laboratory engaged to assist in accelerating assay result turnaround times _____________________________________________________ 1 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz.
/PRNewswire/ -- Global copper smelters are now paying mines for the privilege of buying their concentrate, with spot treatment charges collapsing to negative
Highlights Latest drill results from the Company's La Verde copper-gold (Cu-Au) discovery in coastal Chile continue to boost expectations, with several significant intersections of strong mineralisation visually1 confirmed across key extensions: Eastern Flank – Broad 180 m zone of chalcopyrite-rich, porphyry-style copper mineralisation, significantly extends the width of La Verde's high-grade core (DKD049) Higher-Grade Starter Pit – Three wide visual drill intersections of strong porphyry-style mineralisation from near-surface, add further up-dip continuity to La Verde's high-grade core (DKP052, DKP053 and DKP054 recording widths of 205m, 256m and 129m respectively) Latest assay results from DKD040 confirm better-than-expected mineralisation in an area previously interpreted as lower grade from earlier first-pass Reverse Circulation (RC) drilling: 86.6 m grading 0.45% CuEq2 (0.34% Cu, 0.15 g/t Au) from 4.4 m depth 163.9 m grading 0.43% CuEq (0.34% Cu, 0.11 g/t Au) from 185.2 m depth Assay results pending for 14 drill holes (eight diamond and six RC), third drill rig expected to commence in coming week ___________________________________________________ 1 Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.
Highlights Latest results from ongoing drilling across the Company's La Verde copper-gold (Cu-Au) discovery in Chile confirm a major extension to the deposit's rapidly growing high-grade core DKD039 returned the widest drill result recorded to date, intersecting 725 m grading 0.42% CuEq (0.36% Cu, 0.07 g/t Au) from 18 m depth down-hole, including: 22 m grading 0.71% CuEq (0.67% Cu, 0.03 g/t Au) from 42 m depth 46 m grading 0.65% CuEq (0.54% Cu, 0.12 g/t Au) from 249 m depth 51 m grading 0.62% CuEq (0.51% Cu, 0.10 g/t Au) from 433 m depth 62 m grading 1.03% CuEq (0.90% Cu, 0.18 g/t Au) from 671 m depth The shallow result of 22 m grading 0.71% CuEq from 42 m, further expands the extent of an emerging higher-grade starter pit for the Company's Costa Fuego Cu-Au Project The deeper result of 61 m grading 1.03% CuEq from 670 m, significantly extends La Verde's high-grade core by approximately 200 m down-dip Drilling operations accelerating with two drill rigs on site (Diamond (double shift) and Reverse Circulation (RC, single shift)) and a third drill rig planned to be mobilised in May Assay results pending for eleven drill holes (four diamond and seven RC) ____________________________________ 1 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz.
Deeper Drilling Continues to Drive Expansion of High-Grade Core Highlights Near-surface, higher-grade drill results continue at the La Verde copper-gold porphyry discovery, outlining a potential higher-grade starter pit for the Company's Costa Fuego copper-gold project, located in Chile's coastal range DKD036 recorded 150 m grading 0.52% CuEq2 (0.37% Cu, 0.21 g/t Au) from 30 m depth Including 38 m grading 0.70% CuEq (0.55% Cu, 0.21 g/t Au) from 117 m DKD035 recorded 220 m grading 0.47% CuEq (0.37% Cu, 0.14 g/t Au) from 38 m depth Including 68 m grading 0.64% CuEq (0.52% Cu, 0.15 g/t Au) from 187 m Latest results add to nine previously recorded significant drill intersections, which underpin a rapidly emerging, shallow zone of higher-grade copper-gold mineralisation at La Verde Strong chalcopyrite-rich, copper porphyry style mineralisation visually recorded over approximately 150m downhole width in current drillhole DKD039, significantly expanding La Verde's high-grade core at depth Double-shift diamond drilling continuing, second drill rig (Reverse Circulation ("RC")) expected to commence soon _______________________________ 1 Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.