Tesoro Resources (ASX:TSO) - Non Executive Chairman, John Toll
Non Executive Chairman, John Toll
Source: Business News
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Tesoro Resources (TSO) has received its surface assay results from its El Zorro Gold Project in Chile
  • Late last year, the company completed a sampling program at the Coquetas prospect at El Zorro
  • Results have showed the project has the potential to be a large-scale gold project
  • The company is currently undertaking an initial 10-hole drilling campaign at El Zorro with results still to come
  • Tesoro is up a healthy 26.7 per cent and shares are trading for 5.7 cents each

Tesoro Resources (TSO) has received its surface assay results from its El Zorro Gold Project in Chile.

Results showed the El Zorro has the potential to be a large-scale gold deposit.

Wide zone results include 11 metres at 6.03g/t of gold, including 3 metres at 20.95 g/t of gold and 123 metres at 0.37g/t of gold, which includes 18 metres ay 1.71g/t of gold.

The results came from a sampling program taken at the Coquetas prospect at El Zorro in late 2019. This sampling program aimed to give the company a better understanding of the controls and distribution of gold mineralisation at the prospect.

“With the benefit of having excellent exposures of fresh rock, the Tesoro team has been able to collect detailed channel samples from across the Coquetas Prospect which have returned some excellent results,” Managing Director Zeff Reeves said.

“The results further support the company’s geological model, with several of the already identified mineralised zones being significantly increased in size and additional previously unknown areas of gold mineralisation having been identified,” he added.

Tesoro now has significant surface gold mineralisation occurring over the 785-meter strike, of which it has only drill tested approximately 350 meters.

“This provides considerable scope to increase the scale of the prospect,” Zeff concluded.

What’s next?

The company is currently undertaking an initial 10-hole drilling campaign at El Zorro, with assay results pending.

The new results from Coquetas has provided additional information to help assist further drilling planned at the project.

Tesoro’s shares are up 26.7 per cent and trading for 5.7 cents each at 11:09 am AEST.

TSO by the numbers
More From The Market Herald
MetalsGrove Mining (ASX:MGA) - Managing Director, Sean Sivasamy

" MetalsGrove Mining (ASX:MGA) begins soil sampling at Upper Coondina

MetalsGrove Mining (ASX:MGA) has begun a soil sampling program at its Upper Coondina lithium project in…
Bryah Resources (BYH) - CEO, Ashley Jones

" Bryah Resources (ASX:BYH) raises $1.4m via placement

Bryah Resources (ASX:BYH) has received firm commitments from sophisticated and professional investors to raise $1.43 million…
The Market Herald Video

" Meeka Metals (ASX:MEK) banks fresh capital on sale of Gecko North

Meeka Metals (ASX:MEK) completes the sale of its Gecko North project in Western Australia to LithGold…
Godolphin Resources (ASX:GRL) - Managing Director, Jeneta Owens

" Godolphin Resources (ASX:GRL) receives final assays from Cyclops

Godolphin Resources (ASX:GRL) has received the final assays from the two-hole drilling and soil sampling program…