Strong assays from El Zorro gold project highlight expansion potential for Tesoro Resources

Tesoro Resources ASX TSO Ternera El Zorro gold expansion
Tesoro managing director Zeff Reeves said assays indicate Ternera will rapidly grow beyond the maiden 660,000oz gold resource.

Assays from drilling at Tesoro Resources’ (ASX: TSO) Ternera deposit within the El Zorro gold project in Chile have produced strong drill results which highlight the deposit’s resource expansion potential.

Results from 13 diamond drill holes were received with all returning zones of gold mineralisation including an “exceptional” 230 grams per metre representing the 15th Ternera intercept so far to measure above 100g/m.

Also significant was an intercept of 67m at 3.44 grams per tonne gold including 13.5m at 15.84g/t.

Western margin

Eight of the drill holes tested the western margin of the Ternera mineralisation, targeting near surface gold mineralisation associated with a series of controlling north trending fault zones.

The results defined a new mineralised north-south zone on the edge of the existing resource model, providing the company with significant scope to define additional gold resources.

Drilling highlights were 39.55m at 1.31g/t gold from 3.45m including 5m at 5.66g/t from 8m; 67m at 3.44g/t gold from 109m including 13.5m at 15.84g/t from 117.5m and 8m at 1.22g/t from 168m.

Other intercepts were 43.5m at 0.86g/t gold from 249m, including 11m at 1.33g/t from 265m; 71m at 0.47g/t from 195m including 12m at 1.39g/t from 195m; and 14m at 1.13g/t from 113m including 1m at 11.90g/t from 121m.

Growing the resource

Managing director Zeff Reeves said the results confirm the belief that Ternera will rapidly grow beyond the recently released 660,000 ounce defined resource.

“The eight holes from along the western margin of the deposit are particularly encouraging to us as they fall outside the existing resource model and define a new fault zone which is well-mineralised, particularly to the south,” he said.

“Our infill drilling continues to inform the model as we rapidly move to a mineral resource upgrade this year, defining what we see as a large-scale open pit gold deposit.”

Tesoro is continuing to drill around the clock with six rigs stationed at Ternera and a focus on expanding the resource inventory and converting existing inferred resources to indicated.

Drilling is also is underway at Ternera East with the aim of defining additional gold resources in the hanging wall zone of the deposit.

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