Hot Chili (ASX:HCH) has reported further strong drilling results from its La Verde copper-gold porphyry discovery, located 30 km south of the company’s planned central processing hub for the Costa Fuego project in Chile’s coastal Atacama region.

Managing director Christian Easterday told shareholders that the company’s ongoing emphasis on shallow infill and step-out drilling across the up-dip extension of La Verde’s high-grade core has produced more strong results from reverse circulation (RC) drill holes.

He said numerous drilling intersections across the up-dip portion of La Verde’s high-grade core, including the latest results, contain broad zones of higher-grade mineralisation from shallow depths. Assay results are still pending for nearby up-dip drill hole DKP052, with results expected soon.

“These latest RC drill results further expand the footprint of near-surface higher-grade mineralisation and continue to strengthen the scale and continuity of a significant, near-surface, enrichment zone – capable of delivering a higher-grade starter pit opportunity for Costa Fuego,” Mr Easterday said.

Recently returned assay results from step-out diamond drill holes DKD049 and DKP028D also confirmed additional bulk tonnage extensions and further expanded La Verde’s high-grade core.

Mr Easterday said DKD049 was designed as a 175m step-out from DKD039, which recorded the highest-grade and widest drilling intersection to date at La Verde. Results from DKD049 confirmed a significant expansion of La Verde’s eastern flank at depth.

DKP028D extended a previous RC drill hole that ended in mineralisation, recording a further 200m down-hole of mineralisation across La Verde’s western flank.

Elsewhere, hydrogeological, geotechnical, metallurgical, mine engineering and environmental workstreams are advancing toward full integration of La Verde into the company’s Costa Fuego production hub. That matters because La Verde is being assessed not as a standalone target, but as part of a broader project development pathway that could help shape the sizing and sequencing of future studies and permitting work.

A maiden mineral resource estimate (MRE) for La Verde is expected later this year, followed by a revised pre-feasibility study (PFS) for Costa Fuego and, ultimately, the formal submission of an Environmental Impact Assessment for Costa Fuego in Q2 2027. Those milestones will provide the next formal checkpoints for how the discovery is incorporated into the wider development plan.

Mr Easterday said the company expects La Verde’s rapid integration will be transformative for Costa Fuego’s financial metrics and global standing. Costa Fuego is already ranked among the world’s top five by-scale independent copper developments not controlled by a major mining company.

“The directors look forward to increased news flow following debottlenecking of assay turnaround times and remedial works, following recent heavy rain events in the Atacama region. Next drill results from La Verde are expected shortly,” he said.

Hot Chili shares fell 1.67% to $1.48. The company’s market capitalisation was $303.2 million.

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