Mineralised zone at Tesoro Resources’ El Zorro gold project extended another 200m
Mineralisation at Ternera remains open in all directions – offering plenty more upside for Tesoro.
A further six drill assays received by Tesoro Resources (ASX: TSO) strengthen the company’s story even more at its flagship El Zorro project in Chile.
The results add to the company’s expectations that El Zorro will prove to be continuously mineralised from surface to depth.
Latest assays also include another 100 grams per metre intercept – step out hole 80 at the Ternera prospect has extended the mineralisation about 200m further south.
It returned 13m at 1.17 grams per tonne gold (from 108m down hole) and included a 4.5m section assaying 3.08g/t.
Continuous gold zone
Meanwhile, the results from hole 84 further confirm and delineate “a continuous, strike extensive gold zone” in the northeast of Ternera.
The assays showed mineralisation over 85.67m at 1.42g/t (or 121.65g/m) from 118.3m down hole, with three higher grade sections — 20.7m at 3.81g/t, 11m at 5.49g/t and 7.5m at 3.85g/t.
Other significant intersections included 28m at 1.9g/t, 24m at 1.63g/t and 68m at 0.47g/t, all of which have higher grade intervals.
Tesoro says the Ternera mineralised zone has now been confirmed by drilling over 950m of strike, with the zone going to a depth of 400m and is 450m wide. The zone remains open in all directions.
Managing director Zeff Reeves said the six assays represent another set of exceptional results.
“We are also seeing a significant high-grade core emerge out of our infill drilling, with consistent zones of mineralisation having been delineated with gold grades over 10g/t,” he added.
Achievements over past 12 months
In its most recent presentation, Tesoro noted that it has raised $31.6 million in new capital since February 2020, 85%, of which, has gone into the ground.
Some 24km of diamond drilling at El Zorro has been completed and four rigs are in action 24 hours a day, seven days a week.
The Ternera footprint has grown by 300% and the company now has a “regionally dominant” 555sq km ground position.
In the past 12 months, Tesoro has identified five new gold targets and tested multiple areas at Ternera.
Since listing, Tesoro’s share price has increased by around 700%.
The El Zorro project is located 140km by road from the city of Copiapo in northern Chile.
Tesoro has been focusing on the coastal Cordillerra region in Chile, host to multiple large copper and gold mines.