Chile gold explorer Tesoro Resources (ASX: TSO) reports that multiple gold intercepts at Ternera East, part of its flagship El Zorro project, have confirmed the existence of a new gold zone with more than 600m of strike — and which remains open in all directions.
Managing director Zeff Reeves said the results from Ternera East allows the company to now link zones of previously drilled gold mineralisation.
This includes mineralisation both up and down dip as well as along strike, confirming the presence of an extensive gold zone.
Drilling success may improve economics of open pit mining
“This area is important to us, as any gold resources defined to the east of the main Ternera deposit have the potential to materially affect the economics of open pit mining at Ternera. We’ve obviously got plenty of drilling to do to delineate this area adequately, but these early results are very promising,” Mr Reeves added.
Assays have been received for eight diamond drill holes from the main Ternera gold deposit and the new Ternera East discovery, part of the current 60,000m extensional and infill drilling program.
Ternera East intersections included 7m at 2.37 grams per tonne gold (including 1.15m at 8.84g/t), while another hole returned three separate intervals: 0.5m at 6.98g/t, 4.6m at 1.76g/t and 1m at 2.86g/t.
Four holes widened, extended known gold zones
Four holes of infill and extensional drilling delivered either extensions or widening of existing gold zones.
One hole, ZDDH0215, intersected three separate intervals, including 2.1m at 5.83g/t and 32m at 0.86g/t.
Assays from 42 diamond drill holes remain outstanding.
Drilling continues at El Zorro with rigs working at Ternera, Drone Hill and Toro Blanco.
Tesoro was established with a strategy of acquiring, exploring, and developing mining projects in the Coastal Cordillera region of Chile.
The Coastal Cordillera region is host to multiple world class copper and gold mines, has well established infrastructure, service providers and an experienced mining workforce.
Tesoro notes that large areas of the Coastal Cordillera remain unexplored due to the previously unconsolidated nature of mining concession ownership.