Total
0
Shares
Source: Tesoro Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Tesoro Resources (TSO) flags more high-grade discoveries at the Ternera Gold Deposit in Chile
  • TSO has received results for nine diamond holes drilled as part of a 60,000-metre program, with all nine holes intercepting gold mineralisation
  • Best results include 1.4 metres at 55.67 grams of gold per tonne (g/t) within 25 metres at 4.22g/t gold
  • Drilling is ongoing at the Ternera, Drone Hill and Toro Blanco deposits, with assays still outstanding for 43 holes
  • Shares are up 1.01 per cent at 10 cents each at 3:17 pm AEDT

Tesoro Resources (TSO) says it is continuing to discover and define high-grade zones at the Ternera Gold Deposit within the El Zorro Gold Project in Chile.

The company recently received assay results for nine diamond holes drilled as part of a 60,000-metre extensional and infill drilling program.

Notably, all nine holes intercepted gold mineralisation and reportedly confirm the continuity of high-grade gold zones associated with north-south fault zones in the area.

Standout results from one hole included 25 metres at 4.22 grams of gold per tonne (g/t) from 367 metres. The same intercept contained 14 metres at 6.81g/t gold from 373 metres, and 1.4 metres at 55.67g/t gold from 383 metres.

The company said these results in particular defined a significant high-grade gold zone at depth in the east of the deposit, which had since been well defined over 450 metres of strike and remained open in all directions.

Tesoro Resources Managing Director Zeff Reeves said the results confirmed the potential of Ternera.

“We are seeing multiple repetitions of high-grade zones within the deposit, with a central zone now defined over 450 metres of strike with some impressive high-grade results,” he said.

“The tenor and continuity of these zones provides confidence that ongoing drilling will continue to delineate further high-grade mineralisation.”

Drilling is continuing at El Zorro with rigs operating at the Ternera, Drone Hill and Toro Blanco deposits.

The company is awaiting results for 43 diamond holes.

Following the announcement, shares were up 1.01 per cent at 10 cents each at 3:17 pm AEDT.

TSO by the numbers
More From The Market Herald

" Celamin (ASX:CNL) secures commitments to raise $3.2m

Celamin Holdings (CNL) has secured binding commitments to raise $3.2 million at 7.5 cents per share. The company will issue up to 42.6...

" Kula Gold (AXS:KGD) releases RC results at Boomerang Kaolin prospect

Kula Gold (KGD) has released reverse circulation (RC) drilling results at its Boomerang Kaolin prospect in Western Australia’s Southern Cross region.

" Winchester Energy (ASX:WEL) acquires oil field in Texas

Winchester Energy (WEL) has acquired a 100 per cent working interest in the Varn oil field in Texas.
West Wits Mining (ASX:WWI) - Chairman. Michael Quinert

" West Wits Mining (ASX:WWI) increases Witwatersrand MRE by 20pc

West Wits Mining (WWI) has announced an update to the JORC mineral resource estimate (MRE) at its Witwatersrand Basin Project (WBP) in South