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  Title	Hot Chili Reports Significant Expansion of High Grade Core with Q4 Results
  Children	Comment by PennyPumper Comment by PennyPumper Comment by lilbitlostrn Comment by lilbitlostrn
  ID	30456029
  External ID	1quuc6w
  Author	PennyworthInvesting
  Published Date	Feb. 3, 2026, 9:06 a.m.
  Summary	# Highlights **La Verde Diamond Drilling Rapidly Expands Gold-Rich Major Copper Discovery** * **Drillhole results released during the quarter confirmed significant expansion of La Verde’s high-grade
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  URL	https://www.reddit.com/r/pennystocks/comments/1quuc6w/hot_chili_reports_significant_expansion_of_high/
  Sentiment	Negative: 0.01698    Neutral: 0.70001    Positive: 0.28301
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  Content ID	37757463
  Key	03e75917-ca53-4728-b884-3033087c522e
  Content	# Highlights **La Verde Diamond Drilling Rapidly Expands Gold-Rich Major Copper Discovery** * **Drillhole results released during the quarter confirmed significant expansion of La Verde’s high-grade core:** * DKD032 recorded **529 m grading 0.41 percent Cu and 0.21 g/t Au from 41m to end of hole,** including **148 m grading 0.60 percent Cu** and **0.30 g/t Au from 70 m depth** * DKD034 recorded **426 m grading 0.37 percent Cu and 0.08 g/t Au from 194 m depth**, including **107 m grading 0.46 percent Cu, 0.10 g/t Au from 426 m depth** and including **52 m grading 0.50 percent Cu,** **0.08 g/t Au** from 566 m depth * DKD033, a diamond twin, recorded **495 m grading 0.38 percent Cu and 0.10 g/t Au from 3 m depth**, including **123 m grading 0.50 percent Cu and 0.13 g/t Au** from 289 m depth * DKP005D, diamond tail **recorded 47 m grading 0.57 percent Cu and 0.12 g/t Au from 247.5 m depth** (original end of hole), including **28 m grading 0.49 percent Cu and 0.15 g/t Au** from 316 m depth * Diamond drill results expand an emerging, bulk-tonnage, high-grade core at the La Verde copper-gold (Cu-Au) porphyry discovery and confirm the convergence of the higher-grade mineralization at depth. * A total of 3,347 m was drilled across nine diamond drillholes during the quarter, with assays pending for six diamond drillholes, including results for drillholes targeting the up-dip potential of the high-grade core. **Higher-grade Copper-Gold Starter Pit for Costa Fuego Materializing** * Multiple wide, near-surface Cu-Au intercepts from La Verde highlight the opportunity to incorporate a high-grade starter pit to Costa Fuego, located only 30km south of the planned central processing hub at Productora. * Impact modelling by Hot Chili indicates the potential to add significant additional open pit material to the front end of Costa Fuego’s 20-year mine schedule, delivering mine life growth and materially enhancing the financial metrics of Hot Chili’s March 2025 PFS. * Regulatory approval^(1) was received in October, and drill pad clearing commenced in December, to expand drill coverage across La Verde and initiate first-pass drilling, to test adjacent look-alike targets with the potential for a district-scale copper porphyry cluster. **Strategic Partnering Process Advancing** * Additional parties have entered the Company’s asset-level, strategic partnering processes in relation to the Costa Fuego and Huasco Water Projects (together, the Projects). with several advancing through due diligence, including site visits. The Company has received further non-binding, indicative, incomplete and conditional proposals in relation to potential transactions for the Projects. The Company remains actively engaged in assessing these proposals. **EIA and Development Studies Advancing** **A$4.6M Cash and A$2.8M in Returns Expected (VAT and JV recoup)** * $1.8M in VAT and JV recoup received in January 2026. ^(1) Regulatory approval refers to a Sectoral Permit, which is the appropriate regulatory authorization for a project of this scale. A full DIA (Environmental Impact Declaration) would be processed in a next drilling stage following current regulations. Hot Chili remains fully committed to transparency and environmental responsibility in every stage of the project. # SUMMARY OF OPERATIONAL ACTIVITIES **Rapid Growth of High-Grade Core Continues at La Verde** Diamond drilling (DD) continued during the quarter at La Verde with nine drillholes completed – six from surface and three diamond tails – before the Christmas break on 21 Dec 2025. Phase two drilling aimed to significantly grow the initial porphyry discovery, using DD to verify, extend and expand the mineralization footprint identified by reverse circulation (RC) drillholes, many of which ended in mineralization. Results from the first four diamond drillholes had a significant impact on expansion of the porphyry footprint. Particularly at depth where higher-grade centres converge, with the depth extent now reaching 600m from surface (Figure 1 and 2), as well as identifying a high gold to copper ratio in the north-eastern high-grade core. The first diamond drillhole, DKD032, located in the north-eastern higher-grade centre, recorded: * **529 m grading 0.41 percent Cu and 0.21 g/t Au from 41m to end of hole** * **including 148 m grading 0.60 percent Cu and 0.30 g/t Au from 70 m depth** * **and including 66 m grading 0.45 percent Cu and 0.31 g/t Au** from 295 m depth Twin drillhole DKD032 significantly extended the discovery drill result from DKP002, which previously recorded 308 m grading 0.5 percent Cu and 0.3g/t Au from 46m depth to end of hole. Mineralization extended both laterally and vertically, with end of hole recording 14 m grading 0.35 percent Cu and 0.12 g/t Au.  The other drilling result released was from DKP005D, a 200 m diamond tail extension, recorded an additional: * **47 m grading 0.57 percent Cu and 0.12 g/t Au from 247.5 m depth** (original end of hole), and * **28 m grading 0.49 percent Cu and 0.15 g/t Au** from 316 m depth DKP005D is located in the central higher-grade mineralization centre, the tail extension of RC drillhole DKP005, and resulted in extension of the eastern flank of the discovery by approximately 60 m. Including the new diamond tail extension, DKP005 now records 317 m grading 0.38 percent Cu and 0.1 g/t Au from 32 m to 349 m depth including the non-mineralised dyke (previously DKP005 recorded 200 m grading 0.4 percent Cu and 0.1 g/t Au from 48 m to end-of-hole).  Diamond drillhole DKD033 (twin drillhole to DKP030) was the third result released (Figure 3) and extended the original RC drillhole, recording: * **495 m grading 0.38 percent Cu and 0.10 g/t Au from 3 m depth** * **including 37 m grading 0.51 percent Cu and 0.13g/t Au** from 202 m * **and including 123 m grading 0.50 percent Cu and 0.13g/t Au** from 289 m This represents a 102 m downhole extension to the original intercept, which recorded 393 m grading 0.4 percent Cu and 0.1 g/t Au from 4 m depth. Mineralization was also recorded to end-of-hole, with the last 22 m recording 0.18 percent Cu and 0.04 g/t Au from 521 m depth. The fourth result, diamond drillhole DKD034, also located in the central high-grade centre (Figure 3), returned an intersection of: * **426 m grading 0.37 percent Cu and 0.08g/t Au** from 194 m depth * **including 107 m grading 0.46 percent Cu and 0.10g/t Au** from 426 m * **and including 52 m grading 0.50 percent Cu and 0.08g/t Au** from 566 m Drillhole DKD034 also ended in mineralization, returning 35 m grading 0.27 percent Cu and 0.06 g/t Au from 679 m. The Company is reviewing these results and will consider potential re-entry of DKD033 and DKD034 in the future. In addition, relogging and interpretation of multiple intrusive phases, derived from the diamond drilling campaign, have optimized drill target design and supported the development of an early 4D litho–structural model. [Figure 1. Plan view map of the La Verde porphyry system showing approved extensional collar locations \(red points\), planned \(white traces\) and completed DD drilling \(black\) compared with +0.2 percent copper \(yellow\), +0.3 percent copper \(red\), +0.4 percent copper \(magenta\) mineralization interpolants. Conceptual open pit shells displayed for $US3.50\/lb Cu \(blue\) and $US6.00\/lb Cu \(green\) displayed as dashed lines. See announcement dated 20 January 2026 for JORC Table 1 additional technical information. \(CNW Group\/Hot Chili Limited\)](https://preview.redd.it/7txfqy5anahg1.png?width=1032&format=png&auto=webp&s=5e2e6d71b09998680763d84050efb3ffa013e45a) [Figure 2. NNW facing longitudinal section of the La Verde porphyry system showing +0.2 percent copper \(yellow\), +0.3 percent copper \(red\), +0.4 percent copper \(magenta\) mineralization interpolants following Phase One drilling \(top\) and with the addition of the first four Phase two drillholes \[DKD032, DKD033, DKD034, DKP005D\] \(bottom\). \(CNW Group\/Hot Chili Limited\)](https://preview.redd.it/4eincjagnahg1.png?width=1082&format=png&auto=webp&s=df3fefbf50d0842c92c85f31b46a1f2c59e05f3a) [Figure 3. North facing cross section \(± 40m clipping\) of the La Verde porphyry system showing +0.2 percent copper \(yellow\), +0.3 percent copper \(red\), +0.4 percent copper \(magenta\) mineralization interpolants before \(top\) and after \(bottom\) returned diamond assay results from DKD033 and DKD034. Returned Cu grades shown on hole traces. Conceptual open pit shells1 displayed for $US3.50\/lb Cu \(blue\) and $US6.00\/lb Cu \(green\) displayed as dashed lines and are based on Phase one drilling only. \(CNW Group\/Hot Chili Limited\)](https://preview.redd.it/8g9tny7lnahg1.png?width=981&format=png&auto=webp&s=72c716c4b02270ad0acfde70eebf6a9349d1aeae) **Higher-grade Copper-Gold Starter Pit for Costa Fuego Materializing** Diamond drillholes completed from surface, aiming to test the potential for the higher-grade gold-rich copper mineralization intersected by DKD032 to extend up to near surface, were also completed during the quarter (DKD035 and DKD036). Results are expected soon and the location of both drillholes in the northeastern high-grade centre, could have a material impact on the La Verde deposit. Diamond drilling has been instrumental in development of an early “4D litho-structural model” with the interpretation of multiple intrusive phases optimizing drill target design. Hot Chili geologists are applying the same targeting strategies that proved successful at the Company’s nearby Cortadera Cu-Au porphyry Resource and anticipate these methods will continue to drive growth at La Verde. Impact modelling by Hot Chili indicates the potential to add significant additional open pit material to the front end of Costa Fuego’s 20-year mine schedule, delivering mine life growth and materially enhancing the financial metrics of Hot Chili’s March 2025 PFS. Costa Fuego is significantly leveraged to both copper and gold price, both of which are materially higher than assumptions used in the Company’s PFS. Long-term consensus prices for both commodities sit at US$4.51/lb Cu and US$3,137/oz Au1, 5 percent and 38 percent higher, respectively. The addition of La Verde adds further leverage and scale. Clearing of drill pad locations commenced at La Verde in December, in preparation for the expanded exploration drill program, which received regulatory approval in October. [Costa Fuego Combined Mineral Resource \(Effective Date 26 February 2024\) \(CNW Group\/Hot Chili Limited\)](https://preview.redd.it/1vmcm252oahg1.png?width=1037&format=png&auto=webp&s=6c59b90922192c716c8c8546f3bb9e352892595e) [Costa Fuego Combined Ore Reserve \(Effective Date 27 March 2025\) \(CNW Group\/Hot Chili Limited\)](https://preview.redd.it/ctwemow3oahg1.png?width=618&format=png&auto=webp&s=8c767fe796681c96f4df46c2bf6ab066df581373) **Costa Fuego Project Optimization Continues** Value Engineering development studies continued during the quarter, advancing several workstreams with global consulting company Ausenco, with focus on optimization of the Company’s PFS, prior to inclusion in a planned Feasibility Study (FS). The Company’s Environmental Impact Assessment (EIA) also continued to advance during the quarter, on track for submission at the end of 2026. 1 See Page 23 of this announcement for detail on the US$3.50 Cu and US$6.00 Cu conceptual open pit shells (Exploration Targets). Any potential tonnage and grade of the Exploration Target shown is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. 1 See Page 22 of this announcement for detail on the US$3.50 Cu and US$6.00 Cu conceptual open pit shells (Exploration Targets). Any potential tonnage and grade of the Exploration Target shown is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. **Table 1. Drill Holes Completed for La Verde in Quarter 4, 2025** https://preview.redd.it/ik7mrozfoahg1.png?width=817&format=png&auto=webp&s=ac1001cb4403a9b69bb692fb2b74e10c9c0cfc8e **Table 2. Significant Drilling Intersections from La Verde in Quarter 4, 2025** https://preview.redd.it/o2bv8igioahg1.png?width=1051&format=png&auto=webp&s=82c6ed553ee14c4667e5c87e4836944ad89462e0 **SUMMARY OF CORPORATE ACTIVITIES** **Strategic Partnering Process Advancing** Following completion of the Pre-feasibility Studies (PFS) for Costa Fuego and Huasco Water, Hot Chili initiated an asset-level strategic Partnering Process to introduce one or more qualified partners with the financial, technical and operational capability to assist in funding and delivering each project. The Partnering Process continues to progress. During the quarter, additional parties have entered the Partnering Process, with several advancing through due diligence, including site visits. The Company has received further non-binding, indicative, incomplete and conditional proposals in relation to potential transactions for the Projects. The Company remains actively engaged in assessing these proposals. The Partnering Process may result in a range of transactions for the projects. Investors are cautioned that there is no certainty the Partnering Process will result in a transaction or binding agreement. BMO Capital Markets has been appointed as financial adviser in connection with the Partnering Process. The Company will continue to update the market in accordance with its continuous disclosure obligations. **Cash Position** As of 31 December 2025, the Company had cash of A$4.6 million and no debt. The Company has approximately A$2.8 million in funds from VAT repayments and joint venture recoup from its partner CMP, with $1.8m of these funds being received in January 2026. The remaining $1m funds are expected to be received over the coming months. The operating expenditure for quarter ended 31 December 2025 included payments for staff costs of A$0.6 million and administration and corporate costs of A$1.3 million. The investing expenditure for quarter ended 31 December 2025 included payments for tenements of A$1.1 million relating to option payment for La Verde and payments for exploration and evaluation of A$6.1 million relating to exploration activities across the La Verde copper-gold porphyry discovery, value engineering works and EIA submission activities. **Capital Structure** The following summarizes the Company’s securities on issue: * 177,561,814 ordinary fully paid shares * 1,914,000 options at AUD $1.50 expiring 24 July 2026 * 3,685,079 service and performance rights
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