- Tesoro Resources (TSO) has intersected further high-grade gold mineralisation from the Ternera prospect at the El Zorro Gold Project in Chile
- The company drilled 11 holes as part of this program and reported specifically on three which returned significant gold mineralisation
- Results peaked as high as 19.72 grammes per tonne gold
- Tesoro is now planning a phase two program, which is scheduled to begin in July
- This program will focus on infill and extensional drilling at the Ternera deposit to advance El Zorro towards a maiden resource estimate
- Tesoro is up a slight 1.27 per cent in mid-morning trade and shares are selling for eight cents each
Tesoro Resources (TSO) has intersected further high-grade gold mineralisation from the Ternera prospect at the El Zorro Gold Project.
El Zorro is located 140 kilometres from the city of Copiapo in northern Chile. In the past, historical mining was limited and primarily focused on early-stage quartz veins.
Tesoro drilled 11 holes as part of this current program, for a total of 2855.3 metres.
For now, the company has reported on results received across three of the holes — ZDDH00023, ZDDH00024, and ZDDH0025. Each of these have returned significant gold mineralisation and all intersected the targeted ‘CC’ faults.
At this stage, results for two other holes, ZDDH00026 and ZDDH00027, remain pending.
Hole ZDDH00023 has extended the CC500 fault an additional 50 metres to the northwest and intersected high-grade mineralisation.
This is encouraging because it demonstrates the continuity of the CC faults while still containing high-grade mineralisation.
Results from this hole include 4.3 metres at 7.25g/t gold from 146.7 metres including 2.3 metres at 13.3g/t gold from 146.7 metres.
This hole intersected a wide zone of mineralisation that is associated with the CC400 fault zone and this hole is the first to be drilled into this fault zone.
Results include 36 metres at 0.85g/t gold from 41 metres, including 4.5 metres at 2.12g/t gold from 41 metres and the most significant result; 1.7 metres at 19.72 g/t gold from 162.20 metres.
The final hole, ZDDH00025, intersected a wide zone of mineralisation that links the CC425 fault zone to the CC450 fault zone.
This result shows that continuous gold mineralisation can occur between the faults.
Significant results include 121.55 metres at 1.32g/t gold from 49 metres including 12.27 metres at 4.98g/t gold from 148 metres, 4.7 metres at 10.69g/t gold from 155.2 metres.
“The CC fault zones continue to produce high-quality drill results. Tesoro has now delineated nine of these faults at Turner and with all returning high-grade results the El Zorro project continues to grow,” Managing Director Zeff Reeves said.
“These results further validate the exploration model and our ability to effectively target drilling into the most productive mineralised structures both expanding existing mineralised zones and delineating new ones,” he added.
Tesoro is now planning a phase two program, which is scheduled to begin in July.
This program will focus on infill and extensional drilling at the Ternera deposit to advance El Zorro towards a maiden resource estimate.
Tesoro is up a slight 1.27 per cent in mid-morning trade and shares are selling for eight cents each at 10:33 am AEST.