Hot Chili Limited announced a highly significant third round of assay results from its La Verde copper-gold (Cu-Au) discovery in Chile on May 20, revealing a dramatically expanded mineralisation footprint.

The Phase One drilling campaign at La Verde concluded on April 10, 2025, with a total of 31 Reverse Circulation (RC) drill holes for 9,600 metres completed. Despite earlier delays in laboratory turnaround, the final assay results have now been received and compiled, painting a compelling picture of the discovery's scale and potential.

Initial assay results from the first 12 RC drill holes, reported on February 11, 2025, had already established a promising 400m by 550m discovery footprint, extending from near-surface to approximately 300m vertical depth. The newly returned assays have now more than doubled this initial copper footprint, outlining an extensive +0.2% Cu mineralisation zone measuring 1,000m by 750m, reaching up to 400m vertical depth. Crucially, this significant mineralisation remains open laterally in all directions and at depth, indicating considerable further upside.

A key highlight of these results is the confirmation of multiple distinct higher-grade centres, accessible from near surface, which bode well for potential future open-pit mining scenarios. Hot Chili has identified and assessed three such centres:

•             North-East (NE) Higher-Grade Centre: Situated approximately 180m north-east of the historical shallow copper oxide open pit, this zone is defined by six RC drill holes. It currently spans 180m strike by 280m width by 320m in vertical extent and remains open along strike to the north-east (beneath shallow gravel cover) and at depth.

•             South-East (SE) Higher-Grade Centre: Located about 70m south-east of the historical open pit, this high-grade Cu-Au zone is confirmed by nine RC drill holes. It boasts current dimensions of 320m strike by 340m width by 400m in vertical extent. This centre remains open to the west (beneath the open pit), to the east (under shallow gravel cover), and at depth.

•             South-West (SW) Higher-Grade Centre: Found 310m south of the historic open pit, this high-grade Cu-Au zone has been defined by two RC drill holes. It exhibits current dimensions of 90m strike by 120m width by 260m in vertical extent and remains open to the south (beneath shallow gravel cover) and at depth.

The Company noted that the mineralisation directly beneath the existing La Verde open pit is yet to be tested due to the limitations of RC drilling through clay-altered structures. This area represents an additional, as yet untapped, zone of potential.

Hot Chili is currently undertaking a comprehensive review of multi-element assay results. This crucial step will enhance the understanding of the La Verde discovery, validate geological interpretations, and inform four-dimensional modelling and future drilling plans.