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Tesoro Resources (ASX:TSO) - Non Executive Chairman, John Toll
Non Executive Chairman, John Toll
Source: Azure Capital
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  • Tesoro Resources (TSO) started the week off in a trading halt, as the exploration company gets ready to raise more capital
  • The ASX-lister’s securities will remain halted from trade until October 27, when full details of the fundraise should be made public
  • The materials stock recently released assay results for nine diamond drill holes completed at the Ternera Gold Deposit in Chile
  • All holes intercepted gold mineralisation, confirming continuity of high-grade gold zones, with best hits of 1.4 metres at 55.56 grams of gold per tonne (g/t)
  • TSO shares last traded at 10.5 cents each on October 22

Tesoro Resources (TSO) has started the week off in a trading halt, as the exploration company gets ready to raise more capital.

The ASX-lister’s securities will remain halted from trade until Wednesday, October 27, when full details of the fundraise should be made public.

Before today’s proposed capital raise, Tesoro had been focused on exploring the Ternera Gold Deposit, which lies within the El Zorro Gold Project in Chile.

The materials stock recently released assay results for nine diamond drill holes completed at Ternera, with each hole intercepting gold mineralisation – extending the high-grade gold zones associated with north-south fault zones.

Best results include a hit of 1.4 metres at 55.56 grams of gold per tonne (g/t) from 383 metres in hole ZDDH0203.

The company is still carrying out drilling at El Zorro, with assay results outstanding for 43 diamond drill holes.

Prior to Monday’s trading halt, TSO shares were trading at 10.5 cents each on October 22.

TSO by the numbers
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