Tesoro Gold (ASX:TSO) reports it has restarted diamond drilling at the El Zorro Gold Project in Chile with the aim to rapidly increase gold resources and upgrade resource classifications at the Ternera gold deposit.
Two diamond drill rigs have been deployed at the Ternera gold deposit where the company recently announced an upgraded Mineral Resource Estimate (MRE) of 1.1Moz @ 1.12g/t Au.
Addressing the drill campaign, Tesoro Managing Director Zeff Reeves said: “We are pleased to get drill rigs operating again at El Zorro with a focus on the continued expansion of the Ternera Gold Deposit, and testing some of the exciting district targets we have recently delineated.
“Our belief is that Ternera has significant potential for continued resource growth, with initial drilling focused on adding additional ounces within the existing optimised pit shell.
Our belief is that Ternera has significant potential for continued resource growth
We see significant opportunity, particularly down plunge of the high-grade zones defined in the MRE which the first three holes will target, before looking to expand the deposit north and south where mineralisation remains open.”
Drilling is scheduled to continue for the next 3-4 months, with the aim to continue to expand the Ternera MRE both within the existing optimised pit shell, and also along strike to the north and south where the deposit remains open.
The drilling will also assist in upgrading the resource classification for certain areas within the existing MRE.
Tesoro was established with a strategy of acquiring, exploring, and developing mining projects in the Coastal Cordillera region of Chile.
The coastal Cordillera region is host to multiple world class copper and gold mines, has well established infrastructure, service providers and an experienced mining workforce.
Large areas of the Coastal Cordillera remain unexplored due to the unconsolidated nature of mining concession ownership, but Tesoro, via its in-country network and experience has been able secure rights to a district scale gold project in-line with the company’s strategy.
Tesoro’s 95% owned Chilean subsidiary owns 85% of the El Zorro Gold Project.
