08:55 AM EST, 12/18/2024 (MT Newswires) -- Hot Chili ( HHLKF ) reported Wednesday a "significant" copper-gold discovery near the planned central processing hub at its Costa Fuego copper-fold project in Chile.

Assay results for the first two drill holes of a 4,000-meter drill program include 202 meters grading 0.6% copper and 0.3 grams per tonne (g/t) gold within a broader intersection of 308 meters grading 0.5% copper and 0.3g/t gold.

Hot Chili ( HHLKF ) said it has expanded its first-pass reverse circulation drill program with an additional 2,000 meters planned, which is expected to be complete in late January 2025.

The company's share price rose 3.1% on Tuesday to $0.67 on the TSXV.