- Tesoro Resources (TSO) extends mineralisation at the Ternera Deposit, within the El Zoro Gold Project in Chile
- Assays for four drill holes have returned high-grade gold results, with one hole extending mineralisation 150 metres to the east
- TSO Managing Director Zeff Reeves says wide gold zones at Ternera remain open in all directions and continue to grow
- Shares in Tesoro Resources closed at 15 cents each on June 10
Tesoro Resources (TSO) has extended the mineralisation at its Ternera Gold Deposit, located within the company’s El Zoro Gold Project in Chile.
The explorer recently received the assay results for four holes drilled during extensional and infill resource drilling at the deposit, with each returning significant gold grades.
Notably, one of the holes returned an intercept of 52 metres at 1.37g/t from 316.5 metres, including 21 metres at 2.72g/t gold from 338 metres; and six metres at 4.39g/t gold from 349 metres.
The company said the above results extended the Ternera Deposit by 150 metres to the east.
Collectively, the high-grade intercepts also extend the fault-controlled mineralisation at Ternera to the north, south and at depth.
The company’s managing director Zeff Reeves said two holes in particular had returned “exceptional” results from two parallel high-grade zones.
“The emerging high-grade zones at Ternera offer significant scale and demonstrate the potential for Ternera to host a significant gold deposit,” Mr Reeves said.
“Extensional drilling also continues to intersect consistent, wide gold zones with the deposit remaining open in all directions and continuing to grow.”
Ternera high-grade gold zones
Meanwhile, geological modelling at Ternera has highlighted multiple high-grade gold zones coincident with north trending faults.
The finds come as the company advances modelling of the deposit in preparation to calculate a maiden mineral resource estimate for the project.
At present, the gold mineralisation at Ternera remains open in all directions with six drill rigs operating 24/7.
The company has now completed 171 diamond drill holes for 52,855 metres at the El Zorro Project, with assays for 50 holes still outstanding.
Shares in Tesoro Resources were trading at 15 cents each at market close on June 10.