Tesoro Resources (ASX:TSO) - Non Executive Director, Geoff McNamara
Non Executive Director, Geoff McNamara
Source: Tesoro Resources/LinkedIn
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  • Tesoro Resources (TSO) hits gold mineralisation in all nine holes drilled at the Ternera Gold Deposit which is part of the El Zorro Gold Project in Chile
  • The company struck its sixteenth intercept of 100 grams, with other significant intercepts including 205 metres at 0.96 grams of gold per tonne (g/t)
  • Infill drilling and extensional drilling continues at Ternera, with six drill rigs operating around the clock
  • Tesoro Managing Director, Zeff Reeves, concludes El Zorro is showing the hallmarks of a large intrusive-related gold system
  • Tesoro Resources last traded at 10.5 cents on August 18

Tesoro Resources (TSO) has received assays from nine holes drilled at the Ternera Gold Deposit within the El Zorro Gold Project in Chile.

Each of the diamond drill holes intercepted zones of gold mineralisation, with several holes reporting wide gold zones outside the existing resource model.

Significant intercepts include 205 metres at 0.96 grams of gold per tonne (g/t), including 21 metres at 5.26g/t gold. The company also hit its sixteenth intercept of 100 grams.  

Tesoro Managing Director, Zeff Reeves, said these results provided evidence that an increase to the Ternera resource could be achieved with further drilling.

“We are particularly pleased with multiple near surface gold zones being delineated, as well as what is now a significant new zone of mineralisation to the west of the deposit, which is outside of the existing resource model,” Mr Reeves said.

“This zone has added a new north-south mineralised fault zone to the deposit and is now delineated over 700 metres of strike from surface to over 300 metres deep.”

Infill drilling and extensional drilling is continuing at Ternera, with extensional drilling ongoing at Ternera East. Six drill rigs are operating around the clock, with results still outstanding for 48 diamond drill holes.

Zeff Reeves concluded El Zorro is showing the hallmarks of a large intrusive-related gold system.

“We firmly believe that the resource at Ternera can rapidly increase over the coming months with the deposit still open in all directions, the more we drill the bigger Ternera is becoming.”

Tesoro Resources last traded at 10.5 cents on August 18.

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