Hot Chili announced that it has achieved an initial JORC Resource estimate of 85.1 million tonnes grading 0.6% copper, 0.1 grams per tonne gold and 146 gram per tonne molybdenum at its Productora project in Chile.

The resource milestone represents an important stage in the company's progress as it transitions from explorer to project developer and follows an intensive 10 month drilling effort just 15 months since the company listed on the ASX.

The Resource contains metal of 483,000 tonnes of copper, 290,000 ounces of gold and 12,418 tonnes of molybdenum. It is from surface and 37% is classified Indicated and 63% Inferred. The estimate is confined to the central 1.4 kilometer extent of project, representing only 15% of Productora’s 9.5 kilometer mineralized trend.

Mr Murray Black chairman of Hot Chili said that "Our focus now will be to rapidly expand the resource along the entire 9.5 kilometers mineralized trend while also getting economic studies underway. The location, size, grade and shallow depth of the initial resource give us confidence that Productora is quickly emerging as one of Chile's newest copper developments."