With four drill rigs working 24 hours a day in Chile, Tesoro Resources (ASX: TSO) keeps turning out assays that build a story of a substantial gold deposit at its El Zorro project.
The results add to the company’s expectations that said drilling has demonstrated the potential for the Ternera prospect within El Zorro to be continuously mineralised from surface to depth.
And the drilling is scheduled to continue well into the June quarter as the company works towards delineating a maiden resource.
The El Zorro project is located 140km by road from the city of Copiapo in northern Chile.
Multiple gold zones
Assays have now been received from a further eight holes at the Ternera prospect with the highlight being Hole 62.
Drilling there went through all of three wide gold mineralised zones, the first beginning at 8m down hole and the third ending at 280m from surface.
The first zone was 62m thick and returned 0.46 grams per tonne gold (including 13.5m at 1.12g/t).
Then, at 129m down hole, the company hit 44m at 0.53g/t (including 9.8m at 1.4g/t).
The third zone was intercepted at 256m, returning 24m at 0.66g/t (including 5m at 2.29g/t).
Hole 67 uncovered 59m at 1.72g/t (from 5m down hole), including two higher grade sections — 32.4m at 3.05g/t and 6m at 15.18g/t.
Hole 72 hit 40m of mineralisation but at depth — 356m down hole — averaging 0.69g/t, including 1.8m at 5.5g/t and 1m at 8.39g/t.
‘Sheer number’ of new structures keeps growing
Managing director Zeff Reeves noted that each batch of assays adds further gold to the Ternera deposit.
“It’s encouraging to intercept wide zones of shallow mineralisation which demonstrate the continuity of gold mineralisation at Ternera from surface to now over 400m deep,” he said.
“The sheer number of mineralised structures at Ternera is impressive and continues to grow with every drill hole.”
Four drill rigs have now started on a 30,000m program of extensional and infill drilling at Ternera, with programs planned to continue through the first half of 2021.
Since work resumed after Christmas, the drilling teams have completed a further 10 holes.
Tesoro has also begun work on a scoping study and along with data collection.
Tesoro has been focusing on the coastal Cordillerra region in Chile, host to multiple large copper and gold mines.