Hot Chili unveils blockbuster PFS in booming copper-gold market
The company will now start its final feasibility study (DFS) and the presentation of the environmental approvals of phase one to keep the project on the track for the first production before the end of the decade.
Hot Christian Easterday, chilli chief administrator, said: “With a money of about $ 19 million at the end of last year and both our key activities (Costa Fuego and Huasco Water) at the PFS study at the PFS level, we are well positioned to pursue potential strategic financing discussions and sponsorship financing.”
Costa Fuego is widely considered one of the best unrelated copper resources globally. It has a combined mammoth of 798 meters of classification of 0.45 percent of copper equivalent for 2.9 meters of copper, 2.6 m ounces of gold, 12.9 mucer of silver and 68,000 t of molybdenum.
The company presented a reserve as a mineral reserve of 502 million tons of classification of 0.37 percent of copper, 0.10 grams per tonne (g/t) to merge an open pit and an underground extraction strategy through its deposits of Cortadera, Productora, Alice and San Antonio.
Immersed at 740 meters above sea level on the coastal range of Chile, Costa Fuego uses a strategic edge that few jurisdictions can equal. It is located just 60 kilometers from the port of Las Losas and to a stone’s throw from Vallenar’s skilled workforce.
The expected extraction costs are calculated to be below the reference point of unlawful competitors. The C1 cash cost of the project is located in a streamlined US $ 1.38 for copper pound, including by-products credits, with an all-in support cost of $ 1.85 per pound, positioning it among the lowest low-cost manufacturers globally.
Hot kilos has outlined a hybrid mining approach for its considerable enterprise. The open stone wells are the low -cost operation, accompanied by a block cave mining company up to 1000 m in its flagship cordera deposit. The operation will begin in the third year and will add 146 meters of higher quality feed.
The company’s elaboration will be carried out by a massive sulphide concentrator of 20.7 m-21.7 m per year, a 4MTPA oxide length of oxide and a low-grade sulphide liscivia with 3.6 mtpa that will churn out the concentrate and cathode copper.
Hot Chili has not yet finished with the exploration in his Operation of Chile, saying that his recent discovery of copper porphyry of La Verde di La Verde, 35 km south of Costa Fuego, is preparing as a second porphyry project that changes the game.
The wide and shallow interceptions of La Verde, including 320 m at 0.3 percent of copper and 0.1 g/t gold, suggest a huge system still open in all directions. Exclusion perforation is underway and the company believes that one day it can bend green in the production hub of Costa Fuego, potentially squeezing the life of the front mine and the economy in front of a DFS.
With the prices of copper that rise and the gold continuously at the top of all time, the timing of Costa Fuego is impeccable. The $ 19 million of the company’s cash pile is positioned well to quickly expand green while simultaneously courts the strategic partners for production, as it is loaded towards the very important DFS milestone.
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