Tesoro Resources Hit Wide Gold Zones at El Zorro (ASX:TSO)

Tesoro Resources Hit Wide Gold Zones at El Zorro (ASX:TSO)

Chilean focused gold explorer Tesoro Resources Ltd [ASX:TSO] has continued to build on its recent momentum at its El Zorro gold project, today confirming the continuity of the Ternera deposit.

The TSO share price has been on a serious tear since the beginning of September thanks to the large-scale potential now confirmed at El Zorro.

When we last looked at the TSO, its share price hade shot up on the back of a pretty sizable land acquisition at El Zorro.

A not so subtle nod of confidence by the TSO team perhaps?

ASX TSO Share Price Chart

Source: Tradingview

At time of writing the TSO share price has risen 2.6% to trade at 40 cents per share.

Just down slightly from its open price of 41 cents per share.

Tesoro Resources adds more gold

Today’s announcement relates to the latest infill resource definition holes at the Ternera deposit.

All four holes returned positive results, intersecting multiple gold bearing zones.

Highlights include:

  • 00m at 1.22 grams of gold per tonne (g/t) from 40.00m, including 10.00m at 3.17g/t from 59.00m
  • 00m at 0.79g/t from 17.00m, including 1.00m at 4.79g/t from 23.00m
  • 00m at 1.34g/t from 84.00m, including 5.00m at 4.11g/t from 89.00m
  • 00m at 1.07g/t from 74.00m, including 22.00m at 2.16g/t from 74.00m

TSO said that these results add additional gold zones to the deposit.

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Managing Director Zeff Reeves commented:

These four holes all intersected mineralised fault zones at the predicted depths and continue to build the gold inventory within the Ternera geological model. The results confirm continuity of the mineralised CC faults both along strike and down dip, which provides further confidence that our exploration model is working.

The explorer has received results for 37 holes from a total of 60 holes completed at the project.

All have returned strong intercepts of gold mineralisation, according to TSO.

Although there have been minor delays on assay turnaround times due to logistical issues associated with COVID-19.

What’s next for Tesoro Resources?

TSO seem content with the progress they are making, with two drill rigs operating on site 24 hours per day.

The newly discovered extensions to the north and south of Ternera has meant additional holes have been planned.

Which means the current drill program has been expanded to a minimum of 10,000m.

The expanded program includes additional extensional and infill holes, due to the expanding mineralised footprint at Ternera.

So, plenty to watch out for from TSO.

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Lachlann Tierney,

For The Daily Reckoning Australia