Tesoro Resources (ASX: TSO) has revealed a “massive” 300 grams per metre gold drill intercept at El Zorro, which it says confirms the project’s large-scale potential.
The company has now received assays from hole 69, which shows a continuous wide zone of gold mineralisation over 600m of strike along the eastern flank of the project’s flagship Ternera deposit.
Additionally, mineralisation remains open in all directions.
Assays from hole 69 were 267m at 1.12 grams per tonne gold from 147m, including 132m at 1.89g/t gold from 234m, 33m at 5.09g/t gold from 292m, and 11m at 7.73g/t gold from 292m.
These follow from previous assays including hole 63 which unearthed 166m at 0.57g/t gold from 166m, including 16m at 2.96g/t gold from 300m, and 5m at 9.09g/t gold from 311m.
Tesoro managing director Zeff Reeves said the latest assays were “exceptional” – noting hole 69 was the company’s 11th hole that has returned more than 100g/m gold.
“The consistency of mineralisation being drilled along the eastern flank of Ternera demonstrates the potential scale of the entire El Zorro gold system.”
“It seems the more we drill, the more gold we are finding, and it is a testament to our technical team in Chile and our exploration model.”
Mr Reeves added today’s reported result was one of the company’s “best to date”.
“We can see major extensions developing to the east of Ternera with further holes planned to continue to define this zone.”
Next steps at El Zorro
Tesoro has now drilled 81 diamond holes at Ternera for more than 21,700m.
In the upcoming March quarter, the company will undertake a further 30,000m of resource definition and extensional drilling at the deposit.
A maiden resource for Ternera is scheduled for release before the end of June 2021.
Tesoro will also carry out initial drilling next month at the Toro Gordo target which is to the south of Ternera.
Meanwhile, scoping studies will begin in January and run in parallel with exploration.