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Hot Chili Limited (ASX:HCH)

ALERT: Price-sensitive ASX Announcement for HCH
Current share price for HCH : $1.300 -0.13 (-9.09%)+
Announcement
Release
19 Oct 2026 8:08AM
Price at Release
$1.430
Full Release
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Summary
Hot Chili Limited announced that step-out drilling at its La Verde copper-gold deposit in Chile has confirmed a second porphyry centre, named La Verde South, materially increasing the growth potential of the deposit and potentially near-doubling the discovery footprint south of the existing mineralised area; the key assay result from first RC step-out hole DKP084, drilled about 250 m south of La Verde’s existing +0.4% Cu footprint, returned 148 m at 0.44% CuEq from 36 m including 44 m at 0.56% CuEq from 138 m, while first diamond step-out hole DKD100, a further 100 m south, visually identified a broad oxide zone from 40 m to 172 m and a strong porphyry-style sulphide mineralised interval from 172 m to 347 m downhole, with drilling continuing toward 500 m and assays pending; the company said La Verde is emerging as a cornerstone asset 30 km south of the Costa Fuego project hub, with four rigs operating, assays pending for 25 holes, and the maiden La Verde Mineral Resource Estimate, revised Costa Fuego Pre-Feasibility Study and Environmental Impact Assessment preparation all remaining on track, while the announcement also included technical, JORC, NI 43-101, conceptual pit shell and drilling methodology disclosures and cautioned that visual mineral estimates are not substitutes for laboratory assays.
Key Points
  • Hot Chili confirmed a second porphyry centre at La Verde called La Verde South.
  • The new discovery is south of the existing La Verde copper-gold porphyry and may near-double its growth potential.
  • RC step-out hole DKP084 returned 148 m at 0.44% CuEq from 36 m, including 44 m at 0.56% CuEq from 138 m.
  • DKP084 is approximately 250 m south of La Verde’s existing +0.4% Cu mineralisation footprint.
  • DKD100 was collared about 100 m south of DKP084 and visually recorded 307 m of porphyry-style mineralisation.
  • DKD100 showed visual oxide mineralisation from 40 m to 172 m and visual sulphide mineralisation from 172 m to 347 m.
  • DKD100 drilling was continuing in mineralisation and planned to reach 500 m depth.
  • La Verde is located 30 km south of the planned central processing hub for the Costa Fuego Cu-Au Project in Chile’s coastal Atacama region.
  • Hot Chili described La Verde as a rapidly emerging cornerstone asset for the company.
  • Four drill rigs were operating at La Verde, with assay results pending for 25 drill holes.
  • The maiden La Verde Mineral Resource Estimate remained on track.
  • The revised Costa Fuego Pre-Feasibility Study remained on track.
  • Preparation of the Environmental Impact Assessment submission remained on track.
  • Conceptual open pit shells shown in the announcement were described as Exploration Targets and are conceptual in nature.
  • The announcement included JORC Code and NI 43-101 technical disclosures and cautioned that visual estimates are not a substitute for laboratory assays.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.