Join our daily newsletter At The Bell to receive exclusive market insights
- Tesoro Resources (TSO) reports some of the most “spectacular” intercepts to date from diamond drilling at the Ternera gold deposit within its El Zorro gold project in Chile
- The company received assays for seven diamond drill holes completed as part of an extensional and infill drilling campaign at the project
- All holes returned multiple wide intersections from high-grade zones within Ternera and Tesoro says gold mineralisation remains open to the south and at depth
- Managing Director Zeff Reeves describes the gold hits from the seven holes as “amongst the best results we have ever seen from Ternera”
- TSO shares surge 25 per cent to 9.5 cents
Tesoro Resources (TSO) shares have soared after the company announced some of the most “spectacular” intercepts to date from diamond drilling at the Ternera gold deposit within its El Zorro gold project in Chile.
The company received assays for seven diamond drill holes completed as part of an extensional and infill drilling campaign at the project.
All holes returned multiple wide intersections from high-grade zones within Ternera and Tesoro says gold mineralisation remains open to the south and at depth.
Some of the latest stand-out drill results were 63.93 metres grading 7.61 grams per tonne gold including 7m at 66.1 g/t from 375m and 63.6m at 2.89 g/t including 10.6m at 14.34 g/t from 325.4m.
Gold mineralisation in all the holes occurs well outside the existing Ternera mineral resource estimate (MRE).
Tesoro says it has now delineated a mineralised zone which more than 600m north to south.
Managing Director Zeff Reeves described the gold hits from the seven holes as “amongst the best results we have ever seen from Ternera”.
“Importantly these holes have delineated consistent, wide and strike extensive mineralisation, which remains open to the south and at depth,” Managing Director Zeff Reeves said.
“We’re assessing these zones as we believe that additional drilling could significantly increase the size of the Ternera MRE and make a material difference to the scale of the project.”
The company is currently awaiting assay results for a further five diamond holes drilled at Ternera.
Tesoro’s exploration involving district target generation work such as surface mapping and sampling was also continuing.
TSO shares were trading 25 per cent higher at 9.5 cents at 11:38 am AEDT.
