Hot Chili Strikes Again in Chile with Massive Copper-Gold Discovery
Hot Chili has announced another impressive discovery at its La Verde porphyry in Chile, as part of its Costa Fuego project. The company reported a 472-metre intersection grading 0.41% copper equivalent from just 49m downhole depth, with significant high-grade runs within this hit.
The standout diamond drill hole included a hefty 32.6-metre zone going 0.90% copper equivalent from 438m. Other notable results include a second reverse circulation (RC) drillhole returning 182m grading 0.50% copper equivalent from just 24m depth, and a third shallow RC hole reaming out 272m assaying 0.40% copper equivalent from 82m.
These findings come as the global hunt for new large-scale copper supply is underway, with copper prices on the London Metal Exchange reaching record highs above US$13,000 (A$18,142) a tonne in early January 2026 and peaking at over US$14,500 ($19,540) later that year.
Hot Chili has accelerated operations by adding a fourth rig and extending drilling to six shifts per day. The company is working towards delivering a maiden mineral resource estimate for La Verde later this year, which will significantly enhance the overall scale and economics of Costa Fuego.