Hot Chili: Chile's New Mining Hub
The centerpiece of their copper company’s ambitious discovery program is their Costa Fuego copper-gold project
Hot Chili is a copper company focused on exploration and development in Chile's Atacama Region. Their goal is to become one of the largest copper companies operating in that area.
With three key copper projects located in close proximity to one another, Hot Chili hopes to create a new mining hub on the coastal range of Chile called Costa Fuego.
Since acquiring Cortadera, their Chile copper company has engaged in an aggressive discovery program. Their drill results already include six world-class copper-gold intersections in a single zone of mineralization. They believe that Cortadera may be one of the most signficant copper discoveries of the last decade. Cortadera’s Maiden Mineral Resource (+0.25% CuEq) of 451Mt at 0.46% copper equivalent (CuEq) takes the total Mineral Resource estimate for Costa Fuego to 724Mt at 0.48% CuEq for 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum. The Cortadera Maiden Mineral Resource includes a higher grade component (+0.6% CuEq) of 104Mt at 0.74% CuEq.
Productora is a large-scale, advanced-stage copper-gold project. To date, there has been approximately US$100 million of investment at Productora, and the project is estimated to have probable reserves of 166.9 million tonnes grading 0.43% Cu, 0.09g/t Au and 138 ppm Mo. With our ongoing development of Productora, along with Cortadera and El Fuego, Hot Chili aims to be one of the top copper mining companies in the area.
Hot Chili has a majority interest in the El Fuego copper project. The property encompasses two historic underground mines—San Antonio and Valentina. At one time, these were two of the highest grade copper mines in the region. Both sites, however, were under private ownership for 50+ years, and the modern exploration of these copper companies was minimal.
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