Tesoro Resources’ (ASX:TSO) Golden Run Continues at El Zorro with Latest Assays

Source: Vladimir Nenezic, Shutterstock

Summary

  • Tesoro Resources (ASX:TSO) has unveiled exceptional initial drill results from the Toro Gordo prospect at its Chilean project.
  • Gold grading of up to 69.7g/t was interested at the prospect.
  • Additional assay results for the holes drilled at the Ternera Prospect delivered significant intercepts.
  • Drilling is continuing at the project with assays pending for 22 holes.

Shares of Tesoro Resources Limited (ASX:TSO) traded higher on 5 March 2021 following the release of robust assay results from the Toro Gordo and Ternera deposits at the El Zorro Gold Project, located in the world-class mining region of Chile.

Managing Director Zeff Reeves has highlighted that the outstanding initial drill results from Toro Gordo reflect the large quantities of gold within the El Zorro mineralising system. He also unveiled plans for additional drilling to further test the target.

Tesoro owns 70% of the Chilean project and holds the option to earn 80% by delivering feasibility study and making USD50,000 reimbursement by January 2022. The company holds the first mover advantage in the region. The project covers an area of 555 square kilometres.

Multiple High-Grade Intercepts at Toro Gordo Prospect

The company has received assay results from the first holes drilled into the Toro Gordo prospect. Gold mineralisation was previously identified within an extensive quartz vein system.

The holes ZDDH00082, ZDDH00086, ZDDH00088 and ZDDH00091 have returned encouraging gold assay results. 

Source: ASX update, 5 March 2021

The results validate the potential of vein-hosted, high-grade, gold mineralisation within a different geological host present at the prospect. The results have boosted the exploration potential for the broader El Zorro Project.

For further evaluation of the prospect, the company plans to undertake additional drilling and surface mapping and sampling.

Must Read: ASX Gold Players Caught Up in Correction Spiral  

Consistent Drill Results at Ternera Prospect

Results were received from the ongoing extensional and infill drilling program at the deposit. Three holes were drilled as infill holes along the NE extension of Ternera. The campaign is aimed at defining gold resources at the deposit.

These holes - Holes ZDDH00087, ZDDH00089 and ZDDH00090 have delivered the below significant intercepts:

Source: ASX update, 5 March 2021

So far, Tesoro Resources has finalised 113 diamond drill holes at the project for a total advance of 34,380m. Four rigs are operating 24/7 at the project area. The company is yet to receive assay results for 22 holes.

Good Read: 3 ASX Penny Stocks from Gold Industry – TSO, VKA, IDA

Stock information – TSO stock traded at AUD 0.200 on 5 March 2021, moving upward by more than 2% from its last closing price. The company has a market capitalisation of AUD 108.22 million.  

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