Tesoro Gold (ASX:TSO) reports that it has received multiple ‘high-grade’ gold results following detailed surface mapping and sampling work at the Calderillas target, as part of its El Zorro Project in Chile.
The results, generated by 326 samples, have successfully defined a more than 2.5km by 0.5km outcropping gold zone, as well as multiple new ‘high priority’ drilling targets 5km north of the 1.1Moz Ternera Gold Deposit.
Key results include:
- Sample EZTR003153: 6m @ 5.95g/t Au
- Sample EXTR003162: 6m @ 2.10g/t Au
- Sample EZTR003164: 12m @ 3.13g/t Au
Commenting on the results, Tesoro Managing Director Zeff Reeves stated: “The amount and extent of surface gold mineralisation at El Zorro is phenomenal, our team has been able to rapidly delineate the new Calderillas target using low-cost outcrop mapping and sampling.
“The amount and extent of surface gold mineralisation at El Zorro is phenomenal”
Calderillas has all the characteristics and more of the 1.1moz Ternera Gold Deposit and the surface area of the prospect is twice the size at >2.5km long.
In addition, the low-cost acquisition of two strategic concessions further consolidates Tesoro’s ground position at El Zorro. These two concessions are strategically important as they are both located over areas of identified surface mineralisation.
We anticipate drilling will commence at Calderillas in the coming days, and these results further demonstrate our belief that El Zorro is a district-scale Intrusive Related Gold System (IRGS) analogous to the 50M oz Tintina Province and has the potential to host multiple surface gold deposits.”
The company also notes that the newly identified ‘high priority’ targets are analogous to the surface expression of the Ternera Gold Deposit and also provide compelling evidence that El Zorro has the potential to be a district-scale, multi deposit gold project.
Surface mapping activities at the Calderillas Gold Target has totaled over 50km of strike surface gold mineralisation being identified in a north-south trending belt over 27km long and about 12km wide.
In addition, Tesoro announces that it has also successfully acquired two new strategic concessions within the El Zorro Gold Project through public auction and adds about 2.40km-square to the project area.
Both of the recently acquired concessions are situated within the high priority gold targets of Carderillas and Kitsune.
The El Zorro Gold Project is located about 140km from the regional capital of Copiapo within the Coastal Cordillera region of Chile, which is host to multiple world class copper and gold mines, well established infrastructure and an experienced mining workforce, however remains largely underexplored due to the unconsolidated nature of mining concession ownership. Tesoro’s 95% owned Chilean subsidiary owns 85% of the associated El Zorro Gold Project tenements, which cover a total land area of 555km-square.
Tesoro announces that drilling at the two newly identified high priority zones is expected to commence within the coming days.
Images: Tesoro Gold Ltd
