Perth – October 19, 2026 -- Hot Chili (ASX: HCH, TSXV: HCH, OTCQX: HHLKF) has confirmed a second porphyry centre, La Verde South, after its first step-out hole returned 148 m grading 0.44% copper equivalent (CuEq) at the La Verde copper-gold discovery in Chile. The company says the find near-doubles the growth potential of La Verde, which sits 30 km south of the planned central processing hub for its Costa Fuego project.
Step-out hole DKP084 intersects 148 m at 0.44% CuEq beneath shallow gravel
Reverse circulation hole DKP084 was collared about 250 m south of La Verde's +0.4% copper footprint, which more than 40,000 m of drilling has defined. It returned 148 m at 0.44% CuEq (0.39% Cu, 0.07 g/t Au) from 36 m. That includes 44 m at 0.56% CuEq (0.50% Cu, 0.06 g/t Au) from 138 m.
The mineralisation is primarily oxide copper porphyry-style and begins immediately below the gravel cover. DKP084 was designed to test south of earlier hole DKP024, which returned 114 m at 0.4% CuEq from 86 m, including 52 m at 0.5% CuEq from 96 m.
Diamond hole DKD100 logs 307 m of porphyry-style mineralisation 100 m further south
Diamond hole DKD100, collared a further 100 m south of DKP084, has visually recorded a 307 m down-hole interval of copper porphyry-style mineralisation. Oxide mineralisation, with copper clays, malachite and black copper oxide, runs from 40 m to 172 m. Sulphide mineralisation, with disseminated chalcopyrite and porphyry-style A, B and C veining, runs from 172 m to 347 m, the current hole depth.
The DKD100 figures are visual estimates, not assay results. The hole is planned to reach 500 m.
Four rigs split between La Verde South and resource infill drilling
One diamond and one RC rig are testing La Verde South. The other two, also one diamond and one RC, continue infill drilling at La Verde ahead of the maiden Mineral Resource Estimate (MRE). Assays are pending for 25 holes: six southern step-outs and 19 resource definition holes. The company expects further results shortly.
MRE, revised pre-feasibility study and environmental filing stay on schedule
Hot Chili says the maiden La Verde MRE, the revised Costa Fuego Pre-Feasibility Study and preparation of an Environmental Impact Assessment submission all remain on track.
Managing Director Christian Easterday said the second porphyry centre, concealed beneath shallow Atacama gravels, could be of similar scale to La Verde. He called the pending MRE and the larger-than-expected discovery "a game changer" for the company. He also described Costa Fuego as already one of the top five independent copper developments by scale.
Conceptual open pit shells for La Verde were modelled at copper prices of US$3.50/lb and US$6.00/lb. They are Exploration Targets under the JORC Code, and there has been insufficient exploration to estimate a Mineral Resource in the target area.