- Tesoro Resources (TSO) has received final results for its first completed drill hole at the El Zorro Gold Project in Chile
- This drill program began on February 7 to extend mineralisation at the Coquetas target
- Results from this hole have more than tripled the width of previously reported results
- Gold grades for the project peaked as high as 46 grammes per tonne
- Tesoro’s next hole is currently being drilled to intersect zones of mineralisation encountered in this hole
- Company shares have dropped a slight 7.84 per cent and are currently trading for 4.7 cents each
Tesoro Resources (TSO) has received final assays for its first drill hole in the initial program currently underway at El Zorro.
The El Zorro Gold Project is located 140 kilometres from the city of Copiapo in northern Chile. Historical mining was limited and largely concentrated on early stage quartz veins.
Tesoro has previously drilled 16 diamond drill holes at El Zorro, outlining a large gold system with all holes intersecting gold mineralisation.
Multiple 100 gramme gold intercepts were reported from the Coquetas target at El Zorro.
This current drilling program began on February 7 with an initial 10 diamond drill holes planned to extend the Coquetas mineralised zone from 350 metres to over 800 metres of strike and a depth of 300 metres.
The first hole of this program, ZDDH00017, was completed to a depth of 287.65 metres. Two zones of gold mineralisation have been intercepted in the hole.
Final results from this hole have more than tripled the downhole width of the previously reported drill intercept of 86.45 metres at 2.29g/t gold and a higher-grade zone of 50.50 metres at 3.63g/t gold.
Other results include 200 metres at 46.41g/t gold, 197 metres at 25.31g/t gold, and 190 metres at 10.82g/t gold.
A new, previously unknown, shallower body of El Zorro was also encountered from 49.55 metres to 75.10 metres downhole. Visible gold was encountered at 57.70 metres.
This zone has returned positive assay results with a broad zone of 30 metres at 0.94g/t gold. Within this zone, two higher-grade intervals were returned of three metres at 4.27g/t gold form 44 metres, and four metres at 4.26g/t gold from 70 metres.
“The final assay results for ZDDH0017 further demonstrate the thick, high grade nature of the mineralisation at El Zorro,” Managing Director Zeff Reeves commented.
“We are encouraged by the strong mineralisation well into the footwall sediments, which demonstrates that proximity to the wide controlling structures can provide the right ingredients for gold mineralisation.”
“We have used this information to fine tune our exploration model and have identified further extensions that we intend to drill during the year and continue to expand the scale of El Zorro,” he continued.
To date, four holes have been completed at El Zorro as part of this current program.
Currently, hole ZDDH0021 is being drilled to intersect the southern extensions of mineralisation encountered in hole ZDDH00017.
Tesoro’s shares have dropped 7.84 per cent in mid-morning trade, with shares trading for 4.7 cents each at 11:33 am AEDT.