PR Newswire
Highlights
Hot Chili has executed an Option Agreement to acquire a 100% interest in the historical La Verde Copper Mine (La Verde), located 30 km south of the Company's low-altitude, Costa Fuego copper-gold project in ChileLa Verde encompasses 800m strike length of open pit workings, previously exploited by private interests for shallow porphyry copper-style oxide mineralisationThe La Verde Option Agreement, along with the recently executed Domeyko Option Agreement (see announcement dated 30th April 2024), for the first time consolidates and provides access to, a much larger potential porphyry copper deposit footprint measuring approximately 1.4km by 1.2kmA first-pass, 4,000m drill program commenced at La Verde on 30th October 2024, with one drill rig in operation and two drill holes already complete (assay results pending)Hot Chili has updated timing for the planned release of its next key catalysts to accommodate additional project optimisation and to align the outcomes of its copper and water studies:Water Supply Business Case Study (Pre-feasibility Study level (PFS)) for Huasco Water has been brought forward - now planned for release in Q1 2025Costa Fuego PFS will be delivered in parallel with the Huasco Water PFS – now also planned for release in Q1 2025Strong treasury of approximately A$25.7 million as of 30 September 2024The information provided here is not subject to any editorial processing. It is prepared fully automatically and enriched with additional information and further research options. The aim of the content is to provide information seekers with the relevant information quickly and easily. A link back to the information provider and owner ensures that the data prepared here can be compared with the source information if required. The newsboard does not show information in real time. Please contact the exchange operator for this information if required. There is no claim to completeness. High availability cannot be guaranteed. If you notice any errors in the functionality, please let us know using the "Report a Bug" form below.
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