After a successful drilling campaign, Hot Chili Limited (ASX:HCH) seeks to raise five million dollars, through a private placement of more than 150 million shares, to finance the purchase of the Cortadera copper-gold project, located 14 kilometers from its flagship project in the Atacama región, Productora.

Recently, the company has announced the discovery of a new and surprising high grade area in Cortadera, with 188 meters @ 0.9% Cu and 0.4g/t Au at 516 meters  depth and that completely changes the focus and scale of the project.

The financing will be obtained in two tranches, which will allow the company to focus on a new drilling campaign in the newly discovered area.

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