Tesoro Resources (ASX:TSO) - Non Executive Chairman, John Toll
Non Executive Chairman, John Toll
Source: Azure Capital
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  • Tesoro Resources (TSO) intercepts gold mineralisation in all seven diamond holes drilled at the Ternera Gold Deposit at the El Zorro Gold Project in Chile
  • Infill and extensional drilling aimed to grow the 660,000 ounce maiden gold resource, and struck thick, near-surface extensions to the north and south of the Ternera Deposit
  • The company says the results highlight extensions to the north and south of Ternera, which remains open in all directions
  • Six rigs are operating around the clock, with the company saying it expects to complete a further 15,000 metres of drilling to update the Tenera Mineral Resource by Q4 2021
  • Tesoro Resources is trading in the grey at 10 cents at 10:47 am AEST

Tesoro Resources (TSO) has intercepted gold mineralisation in all seven diamond holes drilled from the Ternera Gold Deposit at the El Zorro Gold Project in Chile.

The infill and extensional drilling aimed to grow the 660,000 ounce maiden gold resource, and struck thick, near-surface extensions to the north and south of the Ternera Deposit.

Best results include 19 metres at 2.58 grams per tonne (g/t) gold, including 4 metres at 10.63g/t gold, and 76.15 metres at 1.15g/t gold, including eight metres at 3.56g/t gold.  

The company said the results highlighted extensions to the north and south of Ternera, which remains open in all directions.

The hole to the west of Ternera was particularly encouraging, Tesoro said, adding it confirmed the continuity of a new gold zone. This has now been drilled along approximately 700 metres of strike and is outside of the existing mineral resource model.

Tesoro Managing Director Zeff Reeves said: “we are particularly encouraged by the results from the north and south of the deposit, showing the mineralised system at Ternera continues in both directions and provides significant potential for rapid resource expansion”.

Infill and extensional drilling at Ternera, and extensional drilling at Ternera East and Drone Hill is still underway, with six rigs drilling around the clock.

Assays are still pending for a further 47 diamond drill holes.

Tesoro says it expects to complete a further 15,000 metres of drilling to update the Ternera Mineral Resource by Q4 2021.

Tesoro Resources was trading in the grey at 10 cents at 10:47 am AEST.

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