Hot on the heels of further positive drill results at El Zorro in Chile, Tesoro Resources (ASX: TSO) has moved to dominate the prospective gold ground by extending its land position in the region by 500%.
The company revealed its application for a further 188 concessions adjoining El Zorro had now been granted.
This increases Tesoro’s footprint in the region by 440sq km to 540sq km.
Commenting on the company’s increased land position, Tesoro managing director Zeff Reeves said the company believed the new concessions are “highly prospective for additional gold mineralisation” that is similar to the style the company had uncovered at the Ternera prospect within El Zorro.
“The addition of this ground firmly places Tesoro as the dominant regional player in the belt and our Chilean team has commenced a full geological review and target generation of the new areas.”
Mr Reeves added the new ground covers prospective structural zones that were identified during a regional review of the belt.
“These structural zones are believed to be associated with gold mineralisation,” he said.
El Zorro gold project
According to Tesoro, Chile is a tier one geological endowment and mining jurisdiction.
To-date at El Zorro, more than 5km of strike has been firmed up with mineralisation remaining open in all directions.
Only last week, Tesoro revealed it had seen sporadic visible gold over 61m of drill core.
Mr Reeves said at the time to observe visible gold over a large 61m interval of drill core was “exciting”.
This was from the Ternera prospect within the project where numerous high-grade and wide gold intercepts have been unearthed.
Earlier this month, assays from a different hole at Ternera returned 231m at 0.83 grams per tonne gold, including 54m at 1.68g/t, 25m at 3.36g/t, 6.7m at 11.57g/t, 24.3m at 2.43g/t, 13.26 at 3.25g/t, 3.66m at 10.76g/t, and 15.9m at 1.04g/t.
Tesoro is targeting a maiden resource for El Zorro before the end of the year.