First Diamond Drillhole Confirms Gold-Rich Major Copper Discovery in Coastal Chile

Core Insights - Hot Chili Limited has reported significant drilling results from its La Verde copper-gold discovery, indicating a promising expansion of its mineral resource base and future operational scale [2][4][10] Drilling Update - The second phase of diamond drilling commenced on September 22, 2025, with six drillholes completed, aiming to extend the initial discovery footprint of +0.2% Cu by 750 m laterally and 400 m in depth [3][4][8] - The standout result from drillhole DKD032 showed 529 m grading 0.41% Cu and 0.21 g/t Au, with notable intervals including 148 m grading 0.60% Cu and 0.30 g/t Au from 70 m depth [5][6] Mineralization Insights - The new drill results confirm the convergence of higher-grade Cu-Au mineralization centers at depth, significantly expanding the vertical and lateral extent of the northeastern higher-grade mineralization center [6][8] - The vertical extent of the mineralization system has been pushed to approximately 600 m deep, with further lateral growth to the east and west [8] Future Implications - The drilling results have implications for the growth of Hot Chili's Costa Fuego Mineral Resource base, potentially adding significant open pit material to the mine schedule and enhancing financial metrics for the March 2025 Pre-feasibility Study [4][10] - Assay results for five remaining diamond drillholes are pending, with expectations for further updates in the coming weeks [9][10]