Slide 1: The Geometry of the Cortadera Cu-Au Porphyry Deposit in Northern Chile
MEGWA Monthly Technical Talk – Perth WA The Geometry of the Cortadera Cu-Au Porphyry Deposit in Northern Chile: Implications for Exploration and Resource Expansion Dr. Steve Garwin, Chief Technical Advisor for Hot Chili Limited sgar@iinet.net.au ASX : HCH OTCQB: HHLKF 16 June 2021
Slide 2: Disclaimer
Disclaimer This Presentation is provided on the basis that neither the Company nor its representatives make any warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the Presentation and nothing contained in the Presentation is, or may
Slide 3: Cortadera / Productora Combined Resource
Cortadera / Productora Combined Resource: 742MT at 0.48% CuEq for 2.9 Mt Cu and 2.7 Moz Au Favorable Infrastructure, low-altitude and 50km from a port Cortadera ~ 91Ma * * U-Pb SHRIMP dates from ANU (Armstrong, 2020) Cortadera Presentation 3
Slide 4: Cortadera Porphyry Cluster, Northern Chile
Cortadera Porphyry Cluster, Northern Chile looking southeast Cuerpo 3 Cuerpo 2 Cuerpo 1 Cortadera Presentation 4
Slide 5: Sheeted quartz veinlets with goethite in outcrop
Sheeted quartz veinlets with goethite in outcrop Cortadera Presentation 5
Slide 6: Quartz vein stockworks with chalcopyrite and pyrite
Cortadera Cu-Au Porphyry, Northern Chile: Quartz vein stockworks with chalcopyrite and pyrite CRP0011D Assay results 780-782m: 0.95% Cu, 0.6g/t Au, 1.6g/t Ag and 41 ppm Mo. 781.5m Cortadera Presentation 6
Slide 7: Seven of the World's Best Cu-Au Drill Results Recorded Since Jan 2018
Leading Global Copper-Gold Discovery Seven of the World’s Best Cu-Au Drill Results Recorded Since Jan 2018 CRP0020D incl. 412m @ 0.7% Cu and 0.3 g/t Au Cortadera Hot Chili Limited Chile CRP0061D 54 867 813 0.4 0.1 Source- Regulus Resources (TSXV. REG) November 2019 Corporate Presentation (slide 10)
Slide 8: Cuerpo 3 / Cortadera – Porphyry Cu-Au Centre
Cuerpo 3 / Cortadera – Porphyry Cu-Au Centre Average Grade Ranges 0.7% - 0.9% Copper & 0.3 – 0.4g/t Gold Large Underground development option adds to Open Pit potential Favourable grade range to reserve grade of other large underground copper mines - Cadia East (Newcrest) Australia 0.3% Cu & 0.47g
Slide 9: Cortadera 4D Model: Geometry and Time
Cortadera 4D Model: Geometry and Time Inputs Outputs All drilling and surface data: Chronological geological model Lithology (downhole and surface mapping) Vein abundance model Quartz vein abundance from logging Mineralogy/ sulphides: cpy-py ratio from Cu, Au, Ag, Mo, Zn, Au/Cu and Cu/
Slide 10: Plan View of Cortadera Geology Model
Plan View of Cortadera Geology Model Lithology Model 5 Skarn / hornfels - proximal Late Porphyry 6 Skarn / hornfels - distal Dyke 10 Early-mineral Porphyry 20 Intra-mineral Porphyry Cuerpo 4 30 Late-mineral Porphyry Cuerpo 2 Cuerpo 1 Skarn Intra mineral porphyry Cuerpo 3 Early mineral 500m porphyry
Slide 11: Copper and Gold Drill Results / 0.1% and 0.4% Cu Shells
Copper and Gold Drill Results / 0.1% and 0.4% Cu Shells > 0.1% Cu > 0.4% Cu Refer to ASX Announcements “Hot Chili Delivers its Seventh World-Class Drill Result from Cortadera” (18th March 2021) Cortadera Presentation 11
Slide 12: Oblique long section of copper mineralisation model
Oblique long section of copper mineralisation model Cortadera Porphyry Discovery Cuerpo 3 Cuerpo 2 Cuerpo 1 1000RL Copper Model (+0.1% Cu) 500RL 1.2km High Grade Core (+0.4% Cu) No Drilling- Potential for a second high grade core in Cuerpo 2 Potential for Cuerpo 0RL 2 & 3 to join at depth No Drillin
Slide 13: Cortadera Key Datasets - Growth Potential
Cortadera Key Datasets - Growth Potential Molybdenum Model (Plan View) A- & B-type Quartz Vein Abundance Model Growth Potential in N-S dyke corridors and IP Chargeability (Plan View) Cortadera Late N-S porphyry North Target dykes Cuerpo 4 Cuerpo 3 Cuerpo 3 North Target North Target Cuerpo 1 +5ppm Mo
Slide 14: Cortadera wall-rock Hornfels / Skarn
Cortadera wall-rock Hornfels / Skarn (volcanics / siltstone) Cortadera Presentation 14
Slide 15: Cortadera intrusions Tonalite porphyry
Cortadera intrusions Tonalite porphyry Cortadera Presentation 15
Slide 16: Unidirectional solidification textures
Cortadera, Northern Chile Unidirectional solidification textures (UST): quartz- magnetite-chalcopyrite This texture is inferred to indicate that the magma became saturated with the ore components during crystallization, before complete solidification. Cu Au Mo Left – Six parallel asymmetric undulato
Slide 17: Chalcopyrite-pyrite and quartz veins hosted by tonalite
Cortadera: Chalcopyrite-pyrite and quartz veins hosted by tonalite HQ drill-core Cortadera Presentation 17
Slide 18: Mineragraphy
Mineragraphy Chalcopyrite-pyrite-anhydrite veinlet with electrum in sericite-chlorite-anhydrite-albite-orthoclase altered biotite quartz diorite to tonalite porphyry (CRPD013D, 773m; 0.6% Cu, 0.4g/t Au, 1.7g/t Ag and 254ppm Mo) electrum pyrite 50 microns Electrum contains 75% Au and 25% Ag (from Muh
Slide 19: Cortadera Vein Paragenesis
Cortadera Vein Paragenesis • Classified on vein morphology, composition and texture. • Grouped by interpreted relative age Early - Hotter UST Unidirectional solidification textures – quartz-magnetite-(chalcopyrite) M Magnetite veinlets EDM Early dark micaceous veins Main mineralisation stages A Irre
Slide 20: Cortadera Geological Units and Intrusive Phases
Cortadera Geological Units and Intrusive Phases Early Host Pre-mineral Volcanics and Sediments Low grade Rocks Distal and Proximal and skarn/ hornfels adjacent to 10- and 20-series intrusions Variable Grade Causal Early-mineralisation tonalite porphyry intrusion High grade Intrusion 10 series (typic
Slide 21: Geological Model: Grade Distribution by Rock Unit
Cortadera Geological Model: Grade Distribution by Rock Unit Cortadera Presentation 21
Slide 22: Plan View of Cortadera Geology Model
Plan View of Cortadera Geology Model Lithology Model 5 Skarn / hornfels - proximal Late Porphyry 6 Skarn / hornfels - distal Dyke 10 Early-mineral Porphyry C Cuerpo 4 A’ 20 Intra-mineral Porphyry 30 Late-mineral Porphyry Cuerpo 1 B’ Cuerpo 2 Skarn Intra mineral porphyry A B Cuerpo 3 C’ Early mineral
Slide 23: Long Section C-C' displaying Copper model
Long Section C-C’ displaying Copper model C / WNW Cuerpo 2 Cuerpo 3 C’ / ESE Cuerpo 1 Copper Model 1.2km (+0.1% Cu) 750m @ 0.6% Cu, 0.2g/t Au Including: CRP0013D High Grade Core 188m @ 0.9% Cu, 0.4g/t Au Or including: (+0.4% Cu) 100m @ 1.0% Cu, 0.5g/t Au 2.5km *Long section looking NNE, 100m wide sl
Slide 24: Long section C-C' displaying Cu isosurfaces
Long section C-C’ displaying Cu isosurfaces C / WNW Cuerpo 2 Cuerpo 3 C’ / ESE Cuerpo 1 +0.5% 1.2km +0.4% +0.3% 750m @ 0.6% Cu, 0.2g/t Au +0.2% Including: CRP0013D 188m @ 0.9% Cu, 0.4g/t Au +0.1% Or including: 100m @ 1.0% Cu, 0.5g/t Au 2.5km *Long section looking NNE, 100m wide slice displaying copp
Slide 25: Long Section C-C' displaying Mo isosurfaces
Long Section C-C’ displaying Mo isosurfaces C / WNW Cuerpo 2 Cuerpo 3 C’ / ESE Cuerpo 1 +40ppm +30ppm +20ppm +50ppm 1.2km 2.5km *Long section looking NNE, 100m wide slice displaying molybdenum isosurfaces and drill traces displaying Cu% Cortadera Presentation 25
Slide 26: Long section C-C' displaying quartz vein abundance
Long section C-C’ displaying quartz vein abundance C / WNW Cuerpo 2 Cuerpo 3 C’ / ESE Cuerpo 1 +2% +3% +5% +10% 1.2km *Long section looking NNE, 100m wide slice displaying quartz vein abundance and drill traces displaying Cu% 2.5km Cortadera Presentation 26
Slide 27: Long section C-C' showing calculated chalcopyrite-pyrite ratio
Long section C-C’ showing calculated chalcopyrite-pyrite ratio C’ / ESE C / WNW Cuerpo 1 Cuerpo 2 Cuerpo 3 1 0.25 0.1 1 0.5 0.5 1.2km 0.5 0.25 1 0.1 0.5 0.25 0.1 2.5km *Long section looking NNE, displaying calculated cpy-py ratio isosurfaces and drill traces displaying Cu% Cortadera Presentation 27
Slide 28: Long section C-C' displaying geology model
Long section C-C’ displaying geology model C / WNW C’ / ESE Cuerpo 2 Cuerpo 3 Cuerpo 1 Volcanic rocks Early mineral porphyry Late Porphyry Skarn Sedimentary rocks Dyke (proximal) Lithology Model Skarn 5 Skarn / hornfels - proximal (distal) 6 Skarn / hornfels - distal 10 Early-mineral Porphyry Intra
Slide 29: Long section C-C' displaying calculated mineralogy alteration model
Long section C-C’ displaying calculated mineralogy alteration model C / WNW C’ / ESE Cuerpo 2 Cuerpo 3 Cuerpo 1 se-ch bi ch an ab ab se-ch an ab se-ch an se se se an Alteration Model Potassic (Biotite > 1) bi ch Propylitic (Chlorite > 3, Phengite < 10) se se-ch Intermediate argillic (Chlorite > 3, P
Slide 30: Plan View of Cortadera Geology Model
Plan View of Cortadera Geology Model Lithology Model 5 Skarn / hornfels - proximal Late Porphyry 6 Skarn / hornfels - distal Dyke 10 Early-mineral Porphyry C Cuerpo 4 A’ 20 Intra-mineral Porphyry 30 Late-mineral Porphyry Cuerpo 1 B’ Cuerpo 2 Skarn Intra mineral porphyry A B Cuerpo 3 C’ Early mineral
Slide 31: Cuerpo 2 Cross Section A-A' with Cu-Mo isosurfaces
Cuerpo 2 Cross Section A-A’ with Cu-Mo isosurfaces A A’ A A’ +0.7% +40ppm +0.5% +30ppm +0.3% +50ppm +20ppm 1km 1km +0.4% +0.2% +0.1% Copper isosurfaces Molybdenum isosurfaces *Cross section looking west, 200m wide slice displaying isosurfaces and drill traces displaying Cu% Cortadera Presentation 31
Slide 32: Cuerpo 2 Cross Section A-A' with quartz vein abundance
Cuerpo 2 Cross Section A-A’ with quartz vein abundance A’ A A’ A A’ Copper Model (+0.1% Cu) 1km High Grade Core +5% (+0.4% Cu) +3% *Cross section looking +2% west, 200m wide slice *Cross section looking displaying quartz vein west, 200m wide slice +10% abundance and drill displaying copper traces di
Slide 33: Cuerpo 2 Cross Section A-A' displaying geology model
Cuerpo 2 Cross Section A-A’ displaying geology model A A’ Sedimentary rocks Intra mineral porphyry Volcanic rocks 1km Lithology Model 5 Skarn / hornfels - proximal 6 Skarn / hornfels - distal 10 Early-mineral Porphyry 20 Intra-mineral Porphyry *Cross section looking west, 200m wide slice displaying
Slide 34: Cuerpo 2 Cross Section A-A' displaying calculated mineralogy
Cuerpo 2 Cross Section A-A’ displaying calculated mineralogy A A’ A A’ ab ch se-ch ab an Alteration Model ch 1 1.4km Potassic (Biotite > 1) Propylitic se (Chlorite > 3, Phengite < 10) bi Intermediate argillic 0.5 (Chlorite > 3, Phengite > 10) Albite ( > 30) 0.25 ab 0.1 Anhydrite ( > 5) Phyllic (Chlo
Slide 35: Plan View of Cortadera Geology Model
Plan View of Cortadera Geology Model Lithology Model 5 Skarn / hornfels - proximal Late Porphyry 6 Skarn / hornfels - distal Dyke C’ 10 Early-mineral Porphyry Cuerpo 4 A’ 20 Intra-mineral Porphyry 30 Late-mineral Porphyry Cuerpo 1 B’ Cuerpo 2 Skarn Intra mineral porphyry A B Cuerpo 3 Early mineral C
Slide 36: Cuerpo 3 Cross Section B-B' with Cu and Mo isosurfaces
Cuerpo 3 Cross Section B-B’ with Cu and Mo isosurfaces B B’ B B’ +0.7% 1.2km +0.5% 1.2km +40ppm +50ppm +30ppm +20ppm +0.4% +0.3% +0.2% +0.1% Copper isosurfaces Molybdenum isosurfaces *Cross section looking northwest, 200m wide slice displaying isosurfaces and drill traces displaying Cu% Cortadera Pr
Slide 37: Cuerpo 3 Cross Section B-B' with quartz vein abundance
Cuerpo 3 Cross Section B-B’ with quartz vein abundance B B’ B B’ Copper Model +2% (+0.1% Cu) 1.2km +3% 1.2km High Grade Core +5% (+0.4% Cu) +10% *Oblique cross section *Oblique cross section looking northwest, looking northwest, 200m 200m wide slice wide slice displaying displaying quartz vein coppe
Slide 38: Cuerpo 3 Cross Section B-B' displaying geology
Cuerpo 3 Cross Section B-B’ displaying geology B B’ Sedimentary rocks Intra mineral Volcanic rocks porphyry 1.4km > 0.3% Cu Lithology Model 5 Skarn / hornfels - proximal 6 Skarn / hornfels - distal 10 Early-mineral Porphyry 20 Intra-mineral Porphyry 30 Late-mineral Porphyry *Oblique cross section lo
Slide 39: Cuerpo 3 Cross Section B-B' displaying calculated mineralogy
Cuerpo 3 Cross Section B-B’ displaying calculated mineralogy B B’ B B’ ch ch ab ab Cp/Py > 0.5 an an 1 Mo > 50ppm Mo > 50ppm 1.4km 0.5 se Alteration Model bi Potassic (Biotite > 1) se-ch Propylitic (Chlorite > 3, Phengite < 10) Intermediate argillic 0.25 0.1 ch ab (Chlorite > 3, Phengite > 10) Albit
Slide 40: Cuerpo 3 Cross Section B-B' displaying calculated mineralogy
Cuerpo 3 Cross Section B-B’ displaying calculated mineralogy B B’ B B’ ch >6% py ch ab ab an 2-4% py an 2 8 Mo > 50ppm Mo > 50ppm 1.4km 3-4% py se >6% py 6 Alteration Model Potassic (Biotite > 1) se-ch Propylitic (Chlorite > 3, Phengite < 10) Intermediate argillic 4 ch ab (Chlorite > 3, Phengite > 1
Slide 41: Cuerpo 3: Porphyry quartz veins
Cuerpo 3: Porphyry quartz veins Data represents the average reading for structural measurements taken over ~100-150m intervals Primary Quartz Veins (1°) Secondary Quartz Veins (2°) No. of intervals: 85 (1°) + 35 (2°) No. of drillholes: 18 NW NW N N NE NE Cortadera Presentation 41
Slide 42: Cuerpo 3 quartz vein geometry
Cuerpo 3 quartz vein geometry N NE SW NE Copper Model (+0.1% Cu) High Grade Core (+0.4% Cu) SW Primary quartz vein > 2% qtz veins Primary Quartz Veins (1°) orientation (1°) Secondary quartz NW N vein orientation (2°) NE *Oblique cross section looking northwest, 200m wide slice displaying dominant ve
Slide 43: Level-plan (650m RL) displaying copper model
Level-plan(650m RL) displaying copper model Copper Model (+0.1% Cu) High Grade Core (+0.4% Cu) 650m RL (+/-150m) Copper model Cortadera Presentation 43
Slide 44: Level-plan (650m RL) with Cu isosurfaces
Level-plan(650m RL) with Cu isosurfaces 0.1% +0.7% 0.4% +0.5% +0.1% +0.2% +0.3% +0.4% 650m RL (+/-150m) Copper isosurfaces Cortadera Presentation 44
Slide 45: Level-plan (650m RL) with Mo isosurfaces
Level-plan (650m RL) with Mo isosurfaces B’ +40ppm +50ppm +30ppm +20ppm 0.1% 0.4% 650m RL (+/-150m) Molybdenum isosurfaces Cortadera Presentation 45
Slide 46: Level-plan (650m RL) with quartz vein abundance
Level-plan(650m RL) with quartz vein abundance B’ +2% +3% +5% 0.1% +10% 0.4% 650m RL (+/-150m) Quartz vein abundance Cortadera Presentation 46
Slide 47: Level-plan (650m RL) displaying geology model
Level-plan (650m RL) displaying geology model Intra mineral porphyry Sedimentary rocks 0.1% Early mineral 0.4% porphyry Lithology Model 5 Skarn / hornfels - proximal Volcanic rocks 6 Skarn / hornfels - distal 10 Early-mineral Porphyry 20 Intra-mineral Porphyry 30 Late-mineral Porphyry 650m RL (+/-15
Slide 48: Level-plan: alteration model
Level-plan: alteration model Cortadera Presentation 48
Slide 49: Alpala Bulk Resource and High Grade Zone
> 0.2% Cu outline, surface projection > 0.2% Cu-Eq. outline For Alpala deposit Alpala Bulk Resource (+0.2% CuEq) 2.95Bt grading 0.52% CuEq Alpala High Grade Zone (+0.9% CuEq) 420Mt grading 1.47% CuEq Refer to ASX Announcements “Hot Chili Delivers its Seventh World-Class Drill Result from Cortadera”
Slide 50: Discovery Context Scale/Grade/Depth
Discovery Context Scale/Grade/Depth Cascabel (Ecuador) Long-section Cortadera (Chile) Long-section Vertical Depth 0m 500m 0.9% CuEq Very Limited drilling 1,000m Alpala Bulk Resource (+0.2% CuEq) CRP0013D 2.95Bt grading 0.52% CuEq High Grade Discovery Zone 1,500m 0.3% CuEq Alpala High Grade Zone 188m
Slide 51: Large High Grade Zone Discovered
Large High Grade Zone Discovered Alpala section Cuerpo 3 section SW NE V BX 750 RL 0.3% Copper Model Alpala Bulk Resource (+0.2% CuEq) (+0.1% Cu) 2.95Bt grading 0.52% CuEq D10 Alpala High Grade Zone High Grade Core (+0.9% CuEq) (+0.4% Cu) D20 0.9% CuEq 420Mt grading 1.47% CuEq 0 RL QD10 CRP0013D QD1
Slide 52: Cortadera Deposit Geometry
Cortadera Deposit Geometry • LeapFrog-assisted models show relationships between Cu grades, geology, mineralization and hydrothermal alteration – Examples include 0.4% and 0.2% Cu grade shells, molybdenum, quartz vein abundance, chalcopyrite-pyrite ratio, hydrothermal alteration and anhydrite distri
Slide 53: Large Footprint – Large System
Large Footprint – Large System Cortadera Porphyry Deposit Historical data (secured in June 2019) provides breakthrough in understanding Tonalite Porphyry Cluster discovered within a classic large alteration Magnetic- footprint (4km x 3km in size) destructive phyllic alteration at Alpala Alpala >
Slide 54: Application of the Cortadera Model in District Exploration
Application of the Cortadera Model in District Exploration Cortadera North target identified by historical work with similar signature and size to Cortadera, located 2km north of Cortadera 4 RC holes were drilled late 2020 at Cortadera North testing the > 4.8 Mo surface anomaly. RC drilling is
Slide 55: CRP0088D Results: 410m at 0.5% Cu, 0.2g/t Au
CRP0088D Results: 410m at 0.5% Cu, 0.2g/t Au, 0.7g/t Ag and 71ppm Mo from 440m (open at depth); including 144m at 0.8% Cu, 0.3g/t Au, 1.6g/t Ag and 136ppm Mo from 706m (open at depth). 822 to 824m depth (1.8% Cu & 0.6g/t Au) 768m to 770m (2.0% Cu, 0.7g/t Au, 4.1g/t Ag & 751ppm Mo) Early-stage porphy
Slide 56: Plan View of Cortadera Cu- and Geology-Models with New Drill Results
Plan View of Cortadera Cu- and Geology-Models with New Drill Results Porphyry intrusion models Cuerpo 1 as of June 2021 CRP0068D (New result) 22m @ 0.5% Cu, 0.1g/t Au +0.1% Copper Model (Oct 2020) CRP0094 (New result) 10m @ 0.5% Cu, 0.1g/t Au CRP0013D (HG discovery hole, July 2019) 750m @ 0.6% Cu, 0
Slide 57: Qualifying Statements
Qualifying Statements Competent Person’s Statement Exploration Results Exploration information in this Presentation is based upon work undertaken by Mr Christian Easterday, the Managing Director and a full-time employee of Hot Chili Limited whom is a Member of the Australasian Institute of Geoscient
Slide 58: Qualifying Statements
Qualifying Statements Reporting of Copper Equivalent Copper Equivalent (CuEq) reported for the resource were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag
Slide 59: Cortadera Copper-Gold Porphyry
Hot Chili Limited ACN 130 955 725 ASX: HCH Level 1, 768 Canning Highway, Applecross, Western Australia 6153 P: +61 8 9315 9009 F: +61 8 9315 5004 www.hotchili.net.au Cortadera Copper-Gold Porphyry Discovery Cortadera Presentation 59