Hot Chili Limited's Costa Fuego Project Update

Hot Chili Limited (ASX: $HCH) has announced a significant 6% increase in the indicated resource at its Costa Fuego copper-gold project in Chile. The total indicated resource now stands at 798 Mt grading 0.45% CuEq for 2.9 Mt Cu, 2.6 Moz Au, 12.9 Moz Ag & 68 kt Mo. The company anticipates completing a pre-feasibility study (PFS) in H2 2024, with further updates on development, drilling, exploration, and commercial activities expected.

Executive Commentary on Resource Estimates

The company's Mineral Resource Estimates for the Costa Fuego project have shown significant growth, particularly at the Cortadera deposit, which has contributed the majority of the resource increase. The upcoming pre-feasibility study is a crucial step in advancing the project, and we are optimistic about the potential for further positive developments in the near future.

Summary of Mineral Resource Estimates and Outlook

Hot Chili Limited's announcement of a 6% increase in the indicated resource at the Costa Fuego project reflects the company's ongoing commitment to advancing its copper-gold assets. The completion of the pre-feasibility study in H2 2024 is expected to provide valuable insights for the project's development. With the updated Mineral Resource Estimates and the anticipation of further updates, Hot Chili Limited remains focused on maximizing the potential of its Costa Fuego project and delivering long-term value to its stakeholders.