Costa Fuego Delivers Outstanding Copper-Gold Drill Results
Quarterly Report Period Ending 30th June 2022 Highlights
Drilling at Valentina Deposit, July 2022
Costa Fuego Delivers Outstanding Copper-Gold Drill Results
- 552m grading 0.6% CuEq (0.4% Cu, 0.2g/t Au, from 276m depth down-hole (Cortadera)
including 248m grading 0.8% CuEq (0.6% Cu, 0.2g/t Au, from 574m depth
- 658m grading 0.6% CuEq (0.4% Cu, 0.2g/t Au) from 232m depth down-hole (Cortadera)
including 134m grading 0.8% CuEq (0.6% Cu, 0.2g/t Au) from 470m depth down-hole including 130m grading 0.9% CuEq (0.6% Cu, 0.2g/t Au) from 662m depth
- 484m grading 0.5% CuEq (0.4% Cu, 0.1g/t Au) from 548m depth down-hole (Cortadera)
including 56m grading 1.0% CuEq (0.8% Cu, 0.3g/t Au) from 644m depth,
- 45m grading 1.2% CuEq (1.0% Cu, 0.2g/t Au) from 280m depth downhole (Productora)
including 8m grading 3.6% CuEq (3.0% Cu, 0.8g/t Au)
- 39m grading 1.1% CuEq (1.0% Cu, 0.1g/t Au) from 36m depth downhole (Productora)
including 12m grading 1.5% CuEq (1.4% Cu, 0.2g/t Au)
Development Study Drilling Complete & Exploration Drilling Continues
Drilling Underway Across High Grade Satellite Deposits at San Antonio & Valentina
Pre-feasibility Study Expanded and On-Track for Q1 2023
Cash Position of A$23.6 million at end of Q2, fully funded into late 2023
- Copper Equivalent (CuEq) reported for the drill holes at Cortadera were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne ×
Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. For Costa Fuego, the average Metallurgical Recoveries combine leach and flotation and were: Cu=83%, Au=53%, Mo=69%, and Ag=23%.
Hot Chili Limited ACN 130 955 725 Contact First Floor, 768 Canning Highway, Applecross, Western Australia 6153 Mr Christian Easterday PO Box 1725, Applecross, Western Australia 6953 Managing Director P: +61 8 9315 9009 F: +61 8 9315 5004 E: [email protected]
www.hotchili.net.au
SUMMARY OF OPERATIONAL ACTIVITIES
Development Study Drilling Boosts High Grade Growth Potential at Cortadera
A significant drilling programme dedicated toward the collection of metallurgical, hydrological, and geotechnical data for the company’s Pre-feasibility Study (PFS) was completed during the quarter. Assay results from this programme have exceeded expectation and confirmed further high grade growth ahead of a planned resource upgrade for Costa Fuego later this year.
A total of six development study diamond drill holes have been completed at Cortadera this year.
Stand-out drill results reported from Cortadera during the quarter include:
- 552m grading 0.6% CuEq (0.4% Cu, 0.2g/t Au, from 276m depth down-hole (CORMET003) including 248m grading 0.8% CuEq (0.6% Cu, 0.2g/t Au, from 574m depth
- 658m grading 0.6% CuEq (0.4% Cu, 0.2g/t Au) from 232m depth down-hole (CORMET005) including 134m grading 0.8% CuEq (0.6% Cu, 0.2g/t Au) from 470m depth down-hole including 130m grading 0.9% CuEq (0.6% Cu, 0.2g/t Au) from 662m depth
- 484m grading 0.5% CuEq (0.4% Cu, 0.1g/t Au) from 548m depth down-hole (CORMET004) including 56m grading 1.0% CuEq (0.8% Cu, 0.3g/t Au) from 644m depth, and including 206m grading 0.7% CuEq (0.5% Cu, 0.2g/t Au) from 800m depth.
All four development study drill holes reported from the main porphyry at Cortadera (Cuerpo 3) confirm expansion of the high-grade core.
Results from drill hole COREMTE001 also outperformed expectation with the hole ending in 6m grading 0.6% copper below the current mineral resource extent of Cuerpo 1.
CORMET003 (775m depth down-hole) – 0.8% copper, 0.1g/t gold, 1.7g/t silver and 510ppm molybdenum. Planar and continuous, chalcopyrite-pyrite-molybdenite-bearing, B-type quartz vein hosted in sericite- chlorite-(biotite) altered early-mineralization tonalite porphyry.
Metallurgical Drilling at Productora Records Strong Intersections
Four diamond drillholes have been completed for metallurgical testwork across the Productora resource (three into the Productora central pit area and one into the Alice satellite pit area).
The goal of this testwork is to confirm the processing flowsheet (based on work completed since the 2016 Productora PFS), with a particular focus on material that will be extracted in the first three years of production at Productora.
While only the intervals to be used in the metallurgical testwork program have been assayed, every hole drilled achieved impressive intersections, including:
- 45m grading 1.2% CuEq* (1.0% Cu, 0.2g/t Au) from 280m (MET027 - Productora)
including 8m grading 3.6% CuEq* (3.0% Cu, 0.8g/t Au) from 280m
- 39m1 grading 1.1% CuEq* (1.0% Cu, 0.1g/t Au) from 46m (MET028 – Alice porphyry)
including 12m grading 1.5% CuEq* (1.4% Cu, 0.2g/t Au)
(1including 3m unsampled outside of metallurgical test area) from 60m
- 39m 0.9% CuEq* (0.7% Cu, 0.2g/t Au) from 141m (MET026 – Productora)
- 39m 0.8% CuEq* (0.7% Cu, 0.2g/t Au) from 78m (MET025 – Productora)
- Copper Equivalent (CuEq) reported for the resource were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne ×
Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. For Productora, the average Metallurgical Recoveries combine leach and flotation and were: Cu=84%, Au=47%, Mo=47%, and Ag=0%.
The intersection in MET028 is particularly exciting as it is located near-surface in the higher-grade Alice porphyry satellite pit.
MET028 (65m to 68m depth down-hole) near-surface, high-grade, copper-oxide drill intersection through Alice felsic porphyry host rock with 5 to 10% A-B vein abundance.
Resource Definition Drilling Underway at San Antonio and Valentina
A total of 27 drill holes have been completed at the high grade Valentina copper mine during the quarter. Initial drilling confirmed a strong visual drilling intersection approximately 120m south of the underground mine workings. Drilling is being finalised shortly and first assay results from this programme are expected shortly.
Work is underway to create detailed geological and mineralisation models to asses the resource potential of Valentina ahead of a maiden Mineral Resource estimate later this year.
A further 9 drill holes are complete at the San Antonio high grade satellite resource during the quarter. Assay results are pending and four holes remaining to be drilled.
San Antonio’s maiden Inferred resource, reported in March 2022, extends from surface and already stands at 4.2Mt grading 1.2% CuEq (1.1% Cu, 2.1g/t Ag) for 48kt Cu and 287koz Ag.
Drilling at San Antonio is designed to upgrade the categorisation of the resource from Inferred to Indicated, as well as testing for down-plunge mineralisation extensions.
Both high-grade satellite deposits will be included in the next Mineral Resource upgrade and subsequent PFS open pit mine schedule, expected in Q1 2023.
Oxide and secondary sulphide minerals clearly visible in drill core from Valentina
Regional Exploration Update
Platform and access clearing across the Santiago Z exploration target were completed this quarter and Hot Chili is poised to commence first-ever drilling on the 4km long by 2km wide potential porphyry footprint in early August.
The Santiago Z exploration target in the context of the deposits at Cortadera.
PFS Expansion and Updated Timeline
Pre-feasibility studies (PFS) are now expected in Q1 2023 following an expansion to capture additional metallurgical testwork opportunities across all deposits at Costa Fuego and an extension of preliminary mine planning to allow the incorporation of new resource growth from drilling in 2022.
Technical drilling for the development study is complete and the Company has reduced its drilling operations from three drill rigs (5-shifts of drilling per day) to one drill rig (1-shift of drilling per day) along with implementing other cost rationalisation initiatives.
The revised timeline ensures the company is now fully funded into late 2023.
Figure 1 Location of Productora, Cortadera and San Antonio deposits in relation to the coastal range infrastructure of Hot Chili’s combined Costa Fuego copper project, located 600km north of Santiago in Chile
Refer to ASX Announcement “Costa Fuego Becomes a Leading Global Copper Project” (12th October 2020) for JORC Table 1 information related to the Cortadera JORC compliant Mineral Resource estimate by Wood and the Productora re-stated JORC compliant Mineral Resource estimate by AMC Consultants.
- Copper Equivalent (CuEq) reported for the resource were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne
× Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz.
For Costa Fuego, the average Metallurgical Recoveries combine leach and flotation and were: Cu=83%, Au=53%, Mo=69%, and Ag=23%. For Productora, the average Metallurgical Recoveries combine leach and flotation and were: Cu=84%, Au=47%, Mo=47%, and Ag=0%. For Cortadera, the average Metallurgical Recoveries combine leach and flotation and were: Cu=82%, Au=55%, Mo=82%, and Ag=37%. For San Antonio, the average Metallurgical Recoveries were: Cu=88%, Au=72%, Mo=88%, and Ag=69%.
** Reported on a 100% Basis - combining Cortadera and Productora Mineral Resources using a +0.25% CuEq reporting cut-off grade
Table 1 Significant Drill Results Reported for Cortadera in Q2 2022
| Coordinates | Azim | Hole Depth | Intersection | Interval | Copper | Gold | Silver | Moly | CuEq* | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hole ID _ | North | East | RL | Dip | From | To | (m) | (%) | (g/t) | (g/t) | (ppm) | (%) | ||
| CORMET003 | 6813372 | 336123 | 1068 | 59 | -60 | 1023 | 276 | 828 | 552 | 0.4 | 0.2 | 0.8 | 89 | 0.6 |
| including | 574 | 822 | 248 | 0.6 | 0.2 | 1.1 | 179 | 0.8 | ||||||
| CORMET001 | 6814269 | 334736 | 976 | 74 | -60 | 350 | 86 | 156 | 70 | 0.5 | 0.1 | 1.1 | 11 | 0.6 |
| - | 222 | 350 | 128 | 0.2 | 0.0 | 0.6 | 14 | 0.3 | ||||||
| including at end-of-hole | 344 | 350 | 6 | 0.6 | 0.0 | 1.4 | 4 | 0.6 | ||||||
| CORMET005 | 6813534 | 336171 | 1066 | 352 | -69.2 | 951.6 | 232 | 890 | 658 | 0.4 | 0.2 | 0.8 | 122 | 0.6 |
| - | 470 | 604 | 134 | 0.6 | 0.2 | 0.9 | 181 | 0.8 | ||||||
| - | 662 | 792 | 130 | 0.6 | 0.2 | 1.1 | 253 | 0.9 | ||||||
| - | 690 | 750 | 60 | 0.8 | 0.4 | 1.3 | 238 | 1.2 | ||||||
| - | 690 | 720 | 30 | 1.1 | 0.5 | 1.6 | 165 | 1.4 | ||||||
| CORMET002 | 6813867 | 335534 | 992 | 0 | -60 | 370 | 0 | 370 | 370 | 0.3 | 0.1 | 0.6 | 8 | 0.4 |
| including | 24 | 44 | 20 | 0.6 | 0.4 | 1.0 | 5 | 0.8 | ||||||
| and including | 136 | 158 | 22 | 0.8 | 0.5 | 1.8 | 4 | 1.0 | ||||||
| and including | 222 | 272 | 50 | 0.4 | 0.1 | 0.9 | 9 | 0.4 | ||||||
| CORMET004 | 6813819 | 336428 | 1094 | 218 | -64 | 1126 | 548 | 1032 | 484 | 0.4 | 0.1 | 0.6 | 94 | 0.5 |
| including | 644 | 700 | 56 | 0.8 | 0.3 | 1.1 | 48 | 1.0 | ||||||
| and including | 800 | 1006 | 206 | 0.5 | 0.2 | 0.7 | 173 | 0.7 | ||||||
| or including | 878 | 922 | 44 | 0.8 | 0.3 | 1.1 | 131 | 1.0 |
Significant intercepts are calculated above a nominal cut-off grade of 0.2% Cu. Where appropriate, significant intersections may contain up to 30m down-hole distance of internal dilution (less than 0.2% Cu). Significant intersections are separated where internal dilution is greater than 30m down-hole distance. The selection of 0.2% Cu for significant intersection cut-off grade is aligned with marginal economic cut-off grade for bulk tonnage polymetallic copper deposits of similar grade in Chile and elsewhere in the world.
Down-hole significant intercept widths are estimated to be at or around true-widths of mineralization.
- Copper Equivalent (CuEq) reported for the drill holes at Cortadera were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne ×
Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. For Cortadera, the average Metallurgical Recoveries combine leach and flotation and were: Cu=82%, Au=55%, Mo=82%, and Ag=37%.
Table 2 Significant Drill Results Reported for Productora in Q2 2022
| Coordinates | Azim | Dip | Hole Depth | Intersection | Interval | Copper | Gold | Molybdenum | CuEq* | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hole ID _ | |||||||||||||
| North | East | RL | From | To | (m) | (%) | (g/t) | (ppm) | (%) | ||||
| MET025 | 6820931 | 323027 | 884 | 90 | -60 | 280 | 39 | 66 | 27 | 0.5 | 0.2 | 92 | 0.7 |
| 78 | 117 | 39 | 0.7 | 0.2 | 136 | 0.8 | |||||||
| 129 | 139 | 10 | 0.5 | 0.1 | 169 | 0.6 | |||||||
| 159 | 168 | 9 | 0.5 | 0.1 | 117 | 0.6 | |||||||
| 246 | 256 | 10 | 0.5 | 0.1 | 64 | 0.6 | |||||||
| MET026 | 6822284 | 323426 | 816 | 90 | -60 | 260 | 93 | 111 | 18 | 0.4 | 0.1 | 193 | 0.5 |
| 120 | 129 | 9 | 0.4 | 0.1 | 33 | 0.5 |
Table 2 (continued) Significant Drill Results Reported for Productora in Q2 2022
| Hole ID _ | Coordinates | Azim | Dip | Hole | Intersection | Interval | Copper | Gold | Molybdenum | CuEq* | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North | East | RL | Depth | From | To | (m) | (%) | (g/t) | (ppm) | (%) | |||
| MET027 | 6821389 | 323082 | 858 | 90 | -62 | 394.6 | 36 | 61 | 25 | 0.4 | 0.1 | 159 | 0.5 |
| 100 | 135 | 35 | 0.4 | 0.1 | 228 | 0.5 | |||||||
| including | 122 | 128 | 6 | 1.2 | 0.2 | 770 | 1.5 | ||||||
| 247 | 271 | 24 | 0.5 | 0.1 | 209 | 0.6 | |||||||
| 280 | 325 | 45 | 1.0 | 0.2 | 225 | 1.2 | |||||||
| including | 280 | 288 | 8 | 3.0 | 0.8 | 699 | 3.6 | ||||||
| MET028 | 6822576 | 322851 | 790 | 270 | -59 | 250.1 | 46 | 85 | 39 | 1.0 | 0.1 | 31 | 1.1 |
| including | 60 | 72 | 12 | 1.4 | 0.2 | 37 | 1.5 | ||||||
| 105 | 115 | 10 | 0.5 | 0.0 | 71 | 0.6 | |||||||
| 132 | 142 | 10 | 0.5 | 0.0 | 36 | 0.5 | |||||||
| 165 | 175 | 10 | 0.3 | 0.0 | 175 | 0.4 | |||||||
| PRF001 | 6821677 | 323055 | 837 | 264.7 | -68.87 | 451 | 34 | 180 | 146 | 0.1 | 0.0 | 4 | 0.1 |
| including | 57 | 60 | 3 | 0.3 | 0.3 | 4 | 0.4 | ||||||
| and including | 116 | 120 | 4 | 0.1 | 0.3 | 4 | 0.2 | ||||||
| and including | 176 | 180 | 4 | 0.1 | 0.3 | 3 | 0.3 | ||||||
| PRF003 | 6821398 | 322916 | 825 | 38.57 | -60.24 | 326 | 20 | 120 | 100 | 0.1 | 0.1 | 21 | 0.1 |
| including | 24 | 50 | 26 | 0.1 | 0.3 | 12 | 0.2 | ||||||
| 236 | 290 | 54 | 0.1 | 0.1 | 4 | 0.1 | |||||||
| including | 236 | 239 | 3 | 0.8 | 0.5 | 7 | 1.1 | ||||||
| 290 | 326 | 36 | 0.2 | 0.1 | 7 | 0.2 | |||||||
| including | 290 | 302 | 12 | 0.4 | 0.1 | 11 | 0.4 | ||||||
| PRF004 | 6821398 | 322916 | 825 | 270.87 | -61.05 | 321 | 26 | 30 | 4 | 0.1 | 0.9 | 52 | 0.5 |
| 37 | 93 | 56 | 0.1 | 0.1 | 19 | 0.2 | |||||||
| including | 81 | 91 | 10 | 0.3 | 0.1 | 28 | 0.3 | ||||||
| 162 | 165 | 3 | 0.2 | 0.2 | 11 | 0.3 | |||||||
| PRF005 | 6821989 | 323069 | 810 | 88.34 | -79.14 | 504 | 270 | 272 | 2 | 0.3 | 0.1 | 6 | 0.3 |
| 314 | 320 | 6 | 0.2 | 0.1 | 7 | 0.2 | |||||||
| PRF006 | 6822161 | 323154 | 794 | 91.58 | -59.49 | 373 | 20 | 124 | 104 | 0.1 | 0.0 | 14 | 0.1 |
| including | 22 | 30 | 8 | 0.2 | 0.0 | 1 | 0.2 | ||||||
| including | 43 | 51 | 8 | 0.2 | 0.1 | 36 | 0.2 | ||||||
| and including | 92 | 95 | 3 | 0.3 | 0.1 | 44 | 0.3 | ||||||
| 344 | 347 | 3 | 0.4 | 0.0 | 90 | 0.4 | |||||||
| PRF008 | 6822349 | 323033 | 772 | 102.83 | -58.43 | 432 | 50 | 58 | 8 | 0.2 | 0.1 | 10 | 0.2 |
| including | 50 | 52 | 2 | 0.4 | 0.2 | 25 | 0.4 | ||||||
| PRF009 | 6822608 | 323120 | 762 | 251.2 | -59.5 | 432 | 246 | 278 | 32 | 0.1 | 0.0 | 3 | 0.1 |
Significant intercepts are calculated above a nominal cut-off grade of 0.1% Cu. Where appropriate, significant intersections may contain up to 30m down-hole distance of internal dilution (less than 0.1% Cu). Significant intersections are separated where internal dilution is greater than 30m down-hole distance. The selection of 0.1% Cu for intersection cut-off grade above is selected on the basis of exploration significance and is not meant to represent potential marginal economic cut-off grade for bulk tonnage polymetallic copper deposits of similar grade in Chile and elsewhere in the world.
Down-hole significant intercept widths are estimated to be at or around true-widths of mineralisation
- Copper Equivalent (CuEq) reported for the drill holes at Productora were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne ×
Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. For Productora, the average Metallurgical Recoveries combine leach and flotation and were: Cu=84%, Au=47%, Mo=47%, and Ag=0%.
Table 3 Details of all Drillholes Completed at Costa Fuego in Q2 2022
| Quarter | Prospect | Hole ID _ | North | East | RL | Dept | Dip | Azimut | Results | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Drilled | h | h | |||||||||
| Q2 2022 | La Negrita | PRF015a | 321202 | 6823500 | 620 | 18 | -60 | 240 | NSR | ||
| Q2 2022 | La Negrita | PRF015 | 321202 | 6823501 | 620 | 300 | -60 | 240 | NSR | ||
| Q2 2022 | La Negrita | PRF016 | 321197 | 6823500 | 620 | 354 | -58 | 59 | NSR | ||
| Q2 2022 | La Negrita | PRF017 | 321397 | 6823998 | 617 | 400 | -60 | 62 | NSR | ||
| Q2 2022 | Productora | MET025 | 6820931 | 323027 | 884 | 280 | -60 | 90 | Significant result returned Q3 | ||
| Q2 2022 | Productora | MET026 | 6822284 | 323426 | 816 | 260 | -60 | 90 | Significant result returned Q3 | ||
| Q2 2022 | Productora | MET027 | 6821389 | 323082 | 858 | 394.6 | -62 | 90 | Significant result returned Q3 | ||
| Q2 2022 | Alice | MET028 | 6822576 | 322851 | 790 | 250.1 | -59 | 270 | Significant result returned Q3 | ||
| Q2 2022 | Cuerpo 1 | CRP0191 | 6814024 | 334872 | 939 | 264 | -70 | 72 | NSR | ||
| Q2 2022 | Cuerpo 1 | CRP0192 | 6814104 | 334632 | 929 | 258 | -60 | 80 | NSR | ||
| Q2 2022 | Cuerpo 1 | CRP0193 | 6814021 | 334874 | 935 | 296 | -61 | 203 | NSR | ||
| Q2 2022 | Cuerpo 3 | CRP0194 | 6813389 | 335930 | 1096 | 180 | -82 | 123 | NSR | ||
| Q2 2022 | Cuerpo 3 | CRP0195 | 6813193 | 336161 | 1132 | 250 | -60 | 250 | NSR | ||
| Q2 2022 | Cuerpo 3 | CRP0196 | 6813068 | 336258 | 1153 | 360 | -75 | 93 | NSR | ||
| Q2 2022 | Cuerpo 3 | CORMET-004 | 6813819 | 336428 | 1094 | 1126 | -64 | 218 | Significant result returned Q3 | ||
| Q2 2022 | Valentina | VAP0004 | 6823548 | 342835 | 947 | 260 | -61 | 90 | Significant result returned Q3 | ||
| Q2 2022 | Valentina | VAP0005 | 6823584 | 342877 | 934 | 41 | -61 | 90 | NSR | ||
| Q2 2022 | Valentina | VAP0006 | 6823584 | 342875 | 934 | 250 | -74 | 90 | NSR | ||
| Q2 2022 | Valentina | VAP0007 | 6823604 | 342876 | 934 | 48 | -75 | 91 | Significant result returned Q3 | ||
| Q2 2022 | Valentina | VAP0008 | 6823491 | 342903 | 926 | 200 | -60 | 90 | NSR | ||
| Q2 2022 | Valentina | VAP0009 | 6823439 | 342916 | 944 | 200 | -60 | 90 | Significant result returned Q3 | ||
| Q2 2022 | Valentina | VAP0010 | 6823507 | 342967 | 932 | 80 | -80 | 88 | NSR | ||
| Q2 2022 | Valentina | VAP0011 | 6823462 | 342942 | 943 | 150 | -59 | 88 | Significant result returned Q3 | ||
| Q2 2022 | Valentina | VAP0012 | 6823810 | 342896 | 886 | 200 | -59 | 90 | NSR | ||
| Q2 2022 | Valentina | VAP0013 | 6823407 | 342903 | 945 | 156 | -60 | 120 | Pending | ||
| Q2 2022 | Valentina | VAP0014 | 6823505 | 342957 | 927 | 150 | -60 | 269 | Pending | ||
| Q2 2022 | Valentina | VAP0015 | 6823551 | 342932 | 910 | 150 | -58 | 284 | Pending | ||
| Q2 2022 | Valentina | VAP0016 | 6823431 | 342920 | 945 | 5 | -57 | 131 | Pending | ||
| Q2 2022 | Valentina | VALMET-001 | 6823543 | 342890 | 925 | 29 | -60 | 90 | Pending | ||
| Q2 2022 | Valentina | VALMET-002 | 6823436 | 342915 | 944 | 70 | -60 | 89 | Pending | ||
| Q2 2022 | San Antonio | SAP0042 | 6819270 | 342486 | 1204 | 150 | -80 | 89 | Significant result returned Q3 | ||
| Q2 2022 | San Antonio | SAP0043 | 6818902 | 342555 | 1182 | 162 | -80 | 271 | NSR | ||
| Q2 2022 | San Antonio | SAP0044 | 6818761 | 342438 | 1208 | 170 | -59 | 239 | Significant result returned Q3 | ||
| Q2 2022 | San Antonio | SAP0045 | 6818978 | 342509 | 1201 | 85 | -61 | 360 | NSR | ||
| Q2 2022 | San Antonio | SAP0046 | 6818628 | 342432 | 1192 | 250 | -85 | 346 | NSR | ||
| Q2 2022 | San Antonio | SAP0047 | 6818793 | 342448 | 1213 | 200 | -76 | 197 | Significant result returned Q3 | ||
| Q2 2022 | San Antonio | SAP0048 | 6818509 | 342288 | 1233 | 100 | -58 | 330 | Significant result returned Q3 | ||
| Q2 2022 | San Antonio | SAP0049 | 6818601 | 342317 | 1235 | 120 | -60 | 15 | Significant result returned Q3 | ||
| Q2 2022 | San Antonio | SAP0050 | 6819258 | 342584 | 1157 | 160 | -65 | 269 | NSR | ||
| Q2 2022 | San Antonio | SAPMET-001 | 6818913 | 342555 | 1178 | 165 | -60 | 330 | Pending | ||
| Q2 2022 | San Antonio | SAPMET-002 | 6818824 | 342424 | 1211 | 130 | -60 | 255 | Pending | ||
| Q2 2022 | San Antonio | SAPMET-003 | 6818628 | 342432 | 1192 | 200 | -61 | 321 | Pending |
Note 1: NSR – no significant intersection recorded .
Figure 2. Plan view across the Cortadera discovery area displaying significant copper-gold DD intersections across Cuerpo 1, 2 and 3 tonalitic porphyry intrusive centres (represented by modelled copper envelopes, yellow- +0.1% Cu, orange +0.3% Cu, pink +0.4% and magenta +0.6% Cu). Note the collar locations of HCH drilling (red) during the quarter
Figure 3 Plan view across the Productora tenements displaying the modelled 0.2% Cu model in yellow and the collar locations of exploration drilling during the quarter in red.
Figure 4 Plan view across the Valentina tenements displaying the underground drives superimposed on the topography and the collar locations of exploration drilling during the quarter in red.