Market Herald logo


Be the first with the news that moves the market
  • Tesoro Resources (TSO) has received the results for the last two holes from the recently complete diamond drill program at the El Zorro Gold Project in Chile
  • Both of the holes intersected gold mineralisation, with results peaking at 7.31 grams per tonne gold
  • All holes in this program have now intersected gold mineralisation
  • Tesoro is now planning a resource definition and extensional drilling program and this is expected to begin in July
  • Company shares are down 5.95 per cent on the market and are trading for 7.9 cents each

Tesoro Resources (TSO) has received the results for the last two holes from the recently complete diamond drill program at El Zorro.

The El Zorro Gold Project is located 140 kilometres from the town of Copiapo in northern Chile.

Historical mining has been limited and primarily focused on early-stage quartz veins.

Both of these holes, ZDDH00026 and ZDDH00027, intersected gold mineralisation within the ‘CC’ fault zone.

The holes were designed to test mineralisation within the CC200 fault at the Ternera prospect and they both successfully intersected it.


Hole ZDDH00026 returned two mineralised intercepts, one from the CC200 fault and one from the newly defined CC175 fault.

Results include 18 metres at 1.36g/t gold from 92 metres including 4.6 metres at 4.99g/t gold from 105.4 metres, and nine metres at 1.85g/t gold from 233 metres including two metres at 7.31g/t gold from 240 metres.


Tesoro believes that hole ZDDH0027 missed the main CC200 fault zone and instead intercepted mineralisation associated with a small northeast-southwest fault displacement.

Results include 12 metres at 0.64g/t gold from 176 metres, including six metres at 1.21g/t gold from 176 metres.

“These final assay results complete what has been an exceptionally successful phase of drilling, with every hole intercepting significant gold mineralisation,” Managing Director Zeff Reeves said.

“The company has a clear path forward to delineate resource at Tamera and our team is planning the next phase of drilling, scheduled to start in July,” he added.

Tesoro’s resource definition and extensional drilling program will consist of 4000 to 5000 metres of diamond drilling and to speed-up work, two rigs will be onsite.

Additional drill testing of the CC200 fault zone has also been planned for future drill programs.

Tesoro is down 5.95 per cent on the market and shares are trading for 7.9 cents each at 11:25 am AEST.

TSO by the numbers
More From The Market Herald

" AKORA Resources (ASX:AKO) gets pleasing assays from Madagascar project

AKORA Resources (AKO) has received assays from resource drilling at the Bekisopa project in Madagascar.
Carawine Resources (ASX:CWX) - Non Executive Chairman, Will Burbury

" Carawine Resources (ASX:CWX) begins diamond drilling at Red Bull

Carawine Resources (CWX) has begun diamond drilling on two highly significant bedrock conductors at the Red Bull tenement in Western Australia.

" Woomera Mining (ASX:WML) begins Phase 2 drilling at Mt Venn

Precious and base metals explorer Woomera Mining (WML) has launched a Phase 2 reverse circulation drilling program at its Mt Venn Project in
Challenger Exploration (ASX:CEL) - Exploration Manager, Stuart Munroe

" Challenger Exploration (ASX:CEL) extends mineralisation at Sentazon

Challenger Exploration (CEL) has released results from the next eight holes of its drilling program at the Sentazon prospect within the Hualilan gold