- Tesoro Gold (TSO) strikes long mineralised gold intervals in its first two drill holes at the 1.1-million-ounce Ternera gold deposit within its El Zorro project in Chile
- The company intersected 434.6 metres at 1.22 grams per tonne (g/t) of gold from 15.4 metres, which included multiple higher-grade hits
- TSO says the “phenomenal” results confirm the continuity and consistency of mineralisation down-plunge and have the potential to improve resource classification and extend mineralised zones at the deposit
- Drilling is ongoing at the deposit, with seven holes for 3275 metres now completed
- Shares in Tesoro Gold are up 27.78 per cent to 4.6 cents at 11:15 am AEST
Shares in Tesoro Gold (TSO) have surged after the company flagged a “phenomenal” result from drilling at the 1.1-million-ounce Ternera gold deposit within its El Zorro project in Chile.
The company struck long mineralised gold intervals in the first two drill holes at the deposit, which were drilled to test continuity within the main intrusive body hosting gold mineralisation.
Tesoro intersected 434.6 metres at 1.22 grams per tonne (g/t) of gold from 15.4 metres, which included multiple higher-grade hits such as 89.95 metres at 3.07 g/t of gold from 111.4 metres and 20.8 metres at 9.19 g/t of gold from 127.6 metres.
Meanwhile, the second drill hole intersected 563 metres at 0.35 g/t of gold from 27 metres, including six zones with higher-grade hits.
The company said the results confirmed the continuity and consistency of mineralisation down-plunge and had the potential to improve resource classification and extend mineralised zones at the deposit.
Managing Director Zeff Reeves said this was a “phenomenal” result from the Ternera deposit.
“This phase of drilling at Ternera is focussed on improving the quality and expanding the existing 1.1 Moz resource,” Mr Reeves said.
“We believe Ternera will continue to grow with additional drilling, with the deposit remaining open in all directions.”
Drilling is ongoing at the deposit, with seven holes for 3275 metres now completed.
Assays for five holes are outstanding and will be released in due course.
Shares in Tesoro Gold were up 27.78 per cent to 4.6 cents at 11:15 am AEST.