Tesoro Resources’ (ASX: TSO) success story at Ternera has continued with bonanza gold grades indicating the deposit’s potential for high-grade zones.
The company has received assays from 10 holes at Ternera with bonanza results arising from continuously mineralised north-south fault zones.
Highlight results were 0.91m at 7.59 grams per tonne from 78.29m; 7m at 3.22g/t gold from 103m; and 25m at 2.11g/t gold from 119m, including 0.59m at 63.1g/t gold from 120m.
Another hole returned 12m at 3.34g/t gold from 334m, including 1.5m at 25.22g/t gold from 267m.
“Ternera continues to produce consistent results with multiple high-grade zones now having been delineated,” Tesoro managing director Zeff Reeves said.
“The north trending fault zones are consistently returning high gold grades, which are beginning to look very attractive from a mining perspective.”
Ternera is the flagship deposit within Tesoro’s wider El Zorro project in Chile.
Across El Zorro, Tesoro has now completed 179 diamond drill holes for 55,724m.
Assays are currently pending for 46 holes.
At Ternera gold mineralisation remains open in all direction, with six rigs operating 24 hours a day seven days a week at the deposit.
Results from drilling at Ternera will feed into a maiden resource estimate, which is due in the “coming months”.
Mr Reeves said the company’s team in Chile was “working very hard” to develop the maiden estimate.
Regionally dominant land position
With the ongoing success at El Zorro, Tesoro now owns about 555 square kilometres of tenure in the region.
Tesoro describes its land position as regionally dominant in a location that is close to requisite infrastructure including power, highways, ports, airports, water, an experienced workforce and a major city.
“We are in the enviable position of having our hands on an expanding gold system in a tier one mining jurisdiction and we are excited by the potential we are seeing at Ternera,” Mr Reeves added.