Tesoro Resources (ASX: TSO) has strengthened further the story at its El Zorro project in Chile after receiving assays for four more holes at the fast growing Ternera prospect.
A step out hole has extended mineralisation at Ternera 150m to the east, so expanding the footprint.
This is in addition to previous holes which have encouraged the company’s expectations that Ternera will prove to be continuously mineralised from surface to depth.
One of the latest assays is the 14th hole to produce a 100-gram metre intercept at El Zorro.
That hole, 124, hit mineralisation at 152m down hole, returning 71m at 1.63 grams per tonne gold (or 116g/m), including 19m at 5.07g/t and 7m at 11.98g/t.
‘High-grade’ results extend in several directions
The next hole, 125, in this program of extensional and infill drilling hit 52m at 1.37g/t, including 21m at 2.72g/t and 6m at 4.39g/t.
Multiple gold zones were intercepted in hole 126: 6m at 1.63g/t (from 97m), 6m at 1.38g/t, 3.9m at 1.09g/t and 10.37m at 1.04g/t.
The final result in this latest bunch of assays saw gold mineralisation hit at 20m down hole, assaying over 29m at 0.57g/t, including 1.5m at 3.77 g/t and 1.17m at 14.30g/t.
The company noted that these results extend the fault-controlled mineralisation to the north, to the east and south as well as at depth.
Tesoro has now completed 171 diamond holes at Ternera for 52,855m.
Potential for ‘significant’ gold deposit
Managing director Zeff Reeves said holes 124 and 125 had returned “exceptional” results from two parallel high-grade zones within the Ternera deposit.
“The emerging high-grade zones at Ternera offer significant scale and demonstrate the potential for Ternera to host a significant deposit,” he added.
“Extensional drilling also continues to intersect consistent, wide gold zones with the deposit remaining open in all directions and continuing to grow.”
Assays remain outstanding for 50 holes.
Drill rigs operating 24/7
Meanwhile, six drill rigs continue to operate on an around-the-clock basis.
Geological modelling has highlighted multiple high-grade zones coincident with north trending faults.
The El Zorro project is located 140km by road from the city of Copiapo in northern Chile.
Tesoro has been focusing on the coastal Cordillerra region in Chile, host to multiple large copper and gold mines.
The company has noted that large areas of the Coastal Cordillera remain unexplored due to the unconsolidated nature of mining concession ownership, but Tesoro has been able secure rights to a “district-scale” gold project.
Tesoro owns 70% of El Zorro.