Join our daily newsletter At The Bell to receive exclusive market insights
- Having completed another induced polarisation (IP) survey, Tesoro Resources (TSO) says it has expanded the gold potential at its El Zorro Project in Chile
- The survey builds on earlier work that was completed in August and December last year, expanding the previously surveyed area to the northeast and northwest
- As a result, several new prospective north-south trending fault zones have been identified
- The survey also highlighted a significant anomaly to the north of the expanded survey grid, which coincides with a previously unknown zone of outcropping
- Tesoro Resources is steady at $0.19 per share
Having completed another induced polarisation (IP) survey, Tesoro Resources (TSO) says it has expanded the gold potential at its El Zorro Project in Chile.
The survey builds on earlier work that was completed in August and December last year, expanding the previously surveyed area by 750 metres to the northeast and two kilometres to the northwest.
Chile’s Quantec Geoscience collected 41 lines — roughly 30.3 line kilometres — of surveying using 50-metre spacings, the data from which was then processed and interpreted by geophysical consultants Resource Potentials in Perth.
Tesoro said the data matches with existing drilling results and geological mapping, suggesting that IP surveying is effective at targeting high-grade gold-bearing structures at El Zorro.
As a result, the extended survey has identified a number of prospective north-south trending fault zones, which are known to host gold mineralisation at the project’s Ternera prospect.
It also highlighted a significant anomaly to the north of the expanded survey grid, which coincides with a previously unknown zone of outcropping Tonalite — the main gold hosting lithology at El Zorro.
Zeff Reeves, Managing Director of Tesoro Resources, said the IP surveying “is proving to be an invaluable tool for assisting gold exploration at El Zorro and the result of this expanded survey has provided immediate exploration upside.”
He added that the Tesoro team has had recent success in delineating the Ternera East target using IP surveying, and has now uncovered a promising new target roughly 1.5 kilometres to the north.
“This new target highlights the potential of El Zorro to continue to expand in scale with the prospective rock types and structures now mapped out to be continuous over a strike length of [four kilometres] and open in all directions.”
Tesoro Resources is steady at $0.19 per share as of 10:30 am AEST.
