The drilling will allow a first Mineral Resource and Ore Reserve to be estimated at Alice, for inclusion in the Productora PFS ahead of its release in the second half of this year.
The drilling will also test for mineralised extensions to the north and south of Alice.
Currently, Productora’s entire Mineral Resource, containing over 1 million tonnes of copper and 675,000 ounces of gold, is hosted within the Main Zone deposit.
Exploration efforts at Productora over the past six months have focussed on Alice and an associated +6km-long, copper porphyry footprint immediately west of the Main Zone.
The addition of copper porphyry resources and recognition of large-scale copper porphyry potential marks an exciting new phase of growth and discovery at Productora.
Productora Drilling Program Details
A programme comprising approximately 8,000m of Reverse Circulation (RC) and 1,000m of Diamond (DD) drilling is underway with one drill rig in operation at Productora. Drilling is targeting the Alice copper porphyry discovery, 400m west of the planned central pit development at Productora.
The programme aims to achieve two outcomes in advance of the completion of the Productora PFS this year, namely:
1. Define a first Mineral Resource and Ore Reserve for the initial Alice copper porphyry discovery area, and
2. Test extensions of Alice and the larger potential of the recently identified +6km copper porphyry footprint (Alunite-silica lithocap).
Hot Chili has undertaken substantial work streams since the discovery and recognition of a large-scale copper porphyry system at Productora late last year. Surface geochemistry, mapping, structural analysis and drilling have refined Hot Chili’s understanding of Alice and its associated alteration system.
The discovery of Alice and large-scale copper porphyry potential immediately adjacent to the planned central pit development has significantly boosted the growth potential of Productora.
