Hot Chili (ASX: HCH) has received a further set of high-grade drill results from its La Verde copper-gold porphyry discovery in Chile as the company advances toward a maiden mineral resource estimate (MRE).

La Verde is situated 30 km south of the planned central processing hub of the company's Costa Fuego copper-gold project, located in Chile's coastal Atacama region. Chile is the world's largest copper-producing country, and the coastal Atacama hosts numerous operating copper mines and advanced projects, positioning Costa Fuego within one of the most established copper mining jurisdictions globally.

Significant intersections included hole DKP063, which recorded 398m grading 0.45% copper equivalent (CuEq) from surface, including 62m at 0.91% CuEq from 20m depth and 12m at 1.00% CuEq from 20m depth.

"DKP063 is among the strongest near-surface intersections we have drilled at La Verde so far. With comparable grades now appearing across the deposit, we have confidence in the scale of a potential high-grade starter pit for Costa Fuego," Managing Director Christian Easterday said.

"With assays from 22 holes still to come, our focus is on converting this drilling into a maiden Mineral Resource and, from there, integrating this into an enhanced and upscaled Costa Fuego pre-feasibility study."

The DKP063 results featured a significant higher-grade component, including 62m grading 0.91% CuEq from just 20m depth. According to the company, this demonstrates the continuity of high-grade mineralisation at shallow depths and reinforces the potential for a high-grade starter pit capable of delivering early higher-grade material into the Costa Fuego mine plan.

Hole DKP063 was designed to test a near-surface data gap between two interpreted high-grade areas. The result indicates continuity of a broad blanket of oxide mineralisation in this area. Results from the final 177m of the hole remain outstanding and are expected to be reported shortly.

Mr Easterday told shareholders that three RC drillholes targeting the up-dip extension of high-grade mineralisation at La Verde have each returned wide intersections of copper-gold mineralisation from shallow depths.

"Importantly, these results are distributed across the deposit, highlighting the scale and continuity of La Verde's growing high-grade core," he said.

Additionally, hole DKP064, collared at the southern extent of La Verde's high-grade core, returned 126m grading 0.45% CuEq from 54m depth, including 26m at 0.70% CuEq from 108m, together with a second intersection of 74m grading 0.35% CuEq from 276m.

Mr Easterday said the presence of these grades at the southern margin of the interpreted high-grade core further supports the lateral continuity of higher-grade mineralisation and suggests potential for expansion in this direction, which remains to be tested.

Hot Chili continues to advance resource definition and development workstreams at La Verde, with a maiden MRE targeted for completion later this year. The company expects to follow with a revised Costa Fuego pre-feasibility study (PFS) incorporating La Verde, ahead of the formal submission of the Costa Fuego environmental impact assessment (EIA) in Q2 2027. The maiden MRE, the revised PFS, and the EIA submission represent the key upcoming milestones for investors to monitor as La Verde moves from discovery drilling toward defined development.

Ongoing drilling continues to expand and upgrade confidence in La Verde's high-grade copper-gold mineralisation, supporting the company's objective of integrating the discovery into the Costa Fuego mine plan and broader development strategy.

HCH shares were steady at $1.60, with a market capitalisation of $323.6 million.