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Tesoro Gold Limited (Tesoro or the Company) (ASX:TSO, OTCQB:TSORF, FST:5D7) is pleased to announce significant assay results from its ongoing infill and extensional drilling program at the El Zorro Gold Project in Chile (El Zorro). Exploration drilling has revealed a new wide, high-grade gold zone to the south and below the existing 1.3 Moz Mineral Resource Estimate (MRE) at the Ternera Gold Deposit (Ternera). The new zone, located approximately 50m below the current MRE boundary, returned 132.18m @ 1.28g/t Au from 363m, including 32.20m @ 3.28g/t Au from 371.30m (ZDDH0356).
HIGHLIGHTS
- Assay results from eight diamond holes drilled as part of the ongoing infill and extensional drilling program have returned multiple significant mineralised zones.
- New zones of wide, high-grade gold mineralisation have been intercepted outside of the current MRE boundary, highlighting the significant growth potential of Ternera.
- Drill hole ZDDH0356 intersected the boundary of the existing MRE, continuing beyond its currently defined limits into previously untested zones.
- New zone intercepted to the south and below the existing MRE boundary:
- 132.18m @ 1.28g/t Au from 363m (ZDDH0356), including;
- 32.20m @ 3.28g/t Au from 371.30m and;
- 3.25m @ 12.639g/t Au from 371.30m.
- 132.18m @ 1.28g/t Au from 363m (ZDDH0356), including;
- Key intercepts from within the existing boundary include:
- 153.90m @ 1.61g/t from 83.10m (ZDDH0356), including;
- 25.82m @ 3.96g/t Au from 93.00m; and
- 44.25m @ 1.99g/t Au from 161.00m.
- 58.70m @ 2.10g/t Au from 264.30m (ZDDH0351), including;
- 7.50m @ 12.42g/t Au from 286.50m; and
- 2.00m @ 29.45g/t Au from 279.00m.
- 153.90m @ 1.61g/t from 83.10m (ZDDH0356), including;
- Drilling is ongoing, with a focus on MRE expansion at the shallow northern and southern ends of the Ternera Deposit.
Tesoro Managing Director, Zeff Reeves, commented:
“The results from hole ZDDH0356 continue to highlight the huge latent growth potential of the Ternera Gold Deposit. The discovery of this significant new gold zone, located outside the existing MRE, open to the south and at depth, reinforces our confidence in both our geological model and the development potential of the broader project.
Additional drilling is planned as part of the current program to further define and expand this exciting new zone. These results, coupled with recent intercepts from the north, demonstrate that Ternera remains open in all directions, offering an exceptional opportunity to significantly expand the resource base.”
Figure 1: El Zorro Gold Project – Ternera Area. Drill locations in the current program, with new results highlighted in gold. Previously announced results shown in white (refer ASX Announcements 23 March 2021, 25 June 2021, 3 November 2021, 8 November 2022, 18 September 2023, 13 June 2024, 2 July 2024 and 28 October 2024). Section location for Figure 2 shown at A-A’ - Datum PSAD56 19S.
TERNERA CONTINUES TO DELIVER
Tesoro’s current round of diamond drilling is focused on infill and expansion of the 1.3 Moz Ternera Gold Deposit, targeting high-priority zones within a 1.5 km radius of the existing 1.3 Moz Resource. Results have been received from eight holes, all returning significant gold intercepts.
Key highlights include hole ZDDH0356, which uncovered:
- An upper zone that widens and upgrades a shallow portion of the MRE.
- A lower, previously undiscovered zone of mineralisation outside the current MRE, highlighting the potential for future growth at Ternera (refer Figure 2).
Figure 2 illustrates the continuity of gold mineralisation at Ternera, now extended to over 800m down-plunge with hole ZDDH0356 contributing an additional 100m of continuity.
Figure 2: El Zorro Gold Project – Block Model Section (looking west): Hole ZDDH0356 shows new mineralised zone well outside of existing MRE. Block model shows indicated and inferred material >0.60g/t Au and is colour coded to Au g/t. Holes ZDDH0351 and ZDDH0351A projected onto section were drilled approximately 50m to the east.
NEXT STEPS
Drilling at El Zorro is set to continue over the coming months with two diamond drill rigs currently operational. Assays remain outstanding for thirteen holes, and additional drilling is planned to expand the Resource further.
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This article includes content from Tesoro Gold Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
High-Grade Gold Confirmed at Bronzewing South
- Partial results received from the diamond tail of drill-hole BWSRC081 with the visible gold zone returning 15.5g/t Au over 0.48m from 416.5m. This high- grade zone is reported within a broader intercept of:
- 8.95m at 1.32g/t Au from 414m, including:
- 0.48m at 15.5g/t Au from 416.5m; and
- 0.55m at 3.52g/t Au from 422.4m.
- 8.95m at 1.32g/t Au from 414m, including:
- Follow-up drilling along strike from these intercepts is scheduled to commence in the coming days to define the extent of the south-trending zone of gold mineralisation with a diamond tail of drill-hole BWSRCD086.
- Drill results indicate the inadequacy of historical air-core drill testing with a significant search space now open on the boundary with the historical Bronzewing Mining Lease.
- Diamond drilling at the Central Target, located ~1.7km to the south of the Eastern Target and within the same structural corridor, has encountered zones of intense locally massive quartz veining associated with brecciation below historical Hammer gold drilling anomalies of:
- 20m at 1.5g/t Au from 120m in drill-hole BWSRC0037, including:
- 8m at 2.4g/t Au from 120m; and
- 4m at 3.9g/t Au from 120m.1
- 20m at 1.5g/t Au from 120m in drill-hole BWSRC0037, including:
- Assay results from the remaining program will be progressively released in the coming weeks.
Figure 1. Photo of massive quartz carbonate veining intersected in drill-hole BWSRCD082 diamond tail at Hammer’s Central Target Zone (213m to 221.5m).
Hammer’s Managing Director, Daniel Thomas, said:
“The confirmation of high-grade gold mineralisation at Bronzewing South is a significant step in our search for an economically viable gold target at our Yandal Gold Project. High-grade mineralisation can be traced with multiple intercepts to the north of our project area, with the mineralised structure interpreted to extend for hundreds of metres.
“We will now look to test this structure approximately 100m further south on our project area. We are very much looking forward to follow-up drilling at the Eastern Target, as we enter a zone without any previous drilling coverage.
“The team is encouraged by the observations in recent drilling at the Central Target and the potential for this corridor to be connected to the Eastern Target drilling some 1.7km to the north. This corridor is largely untested below the ineffectual air-core drilling and, with a prominent shear zone interpreted to connect these targets, it is of high interest to the team in our search for a significant gold discovery.”
Figure 2. Plan view of the Bronzewing South tenement EPM36/854, showing Bronzewing orebodies on Northern Star Resources mining lease, historical Hammer RC drilling intercepts and the structural corridor of interest containing Hammer’s Central and Eastern Target Zones (refer to ASX announcement 9 November 2020).
Click here for the full ASX Release
This article includes content from Hammer Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
