Tesoro Resources Limited (ASX: TSO) has announced high-grade assay results including significant hits of 267.00m @ 1.12g/t Au, including 132.00m @ 1.89g/t Au and 45.00m @ 4.02g/t Au from the Ternera prospect within its El Zorro Gold Project in Chile.
The company reported that the assays received for hole ZDDH00069 confirm the large-scale potential of the El Zorro Gold Project. Significant intercepts included 267.00m @ 1.12g/t Au from 147.00m including 132.00m @ 1.89g/t Au from 234.00m; 45.00m @ 4.02g/t Au from 292.00m; 33.00m @ 5.09g/t Au from 292.00m; and 11.00m @ 7.73g/t Au from 292.00m.
TSO said that the hole ZDDH00069 mineralisation confirms the development of a new continuous wide zone of gold mineralisation over 600m of strike north to south, along the eastern flank of the Ternera Deposit. The mineralisation remains open in all directions.
The company said that 54 holes were completed in this phase of drilling for 16,124.66m, and assays are pending for 15 holes.
TSO said that significant infill and extensional drill programs are planned to commence from the first week of January 2021, maiden drilling is planned for Toro Gordo target in January 2021, and Scoping Study activities are scheduled to commence from January 2021.
El Zorro project
The El Zorro Gold Project is Tesoro’s main focus and covers over 500km2 and is located 140km by road from the city Copiapo in Region III, northern Chile.
Historical mining by artisanal workers at El Zorro was limited and largely concentrated on early stage quartz veins in and around Ternera prospect within the El Zorro Tonalite.
Tesoro has classified the El Zorro Gold Project as being an Intrusive Related Gold (IRG) system and has affinities to the Tintina Province in North America.
Since commencing exploration Tesoro has expanded the know occurrence of gold mineralisation and host rocks outside of the Ternera Prospect and delineated multiple targets prospective for gold mineralisation.
The company said that it had identified Ternera as the first of five targets identified at El Zorro to be drilled.
Drilling at El Zorro
The company had recently commenced drilling at the El Zorro project and had reported high-grade results from the Ternera deposit in November and December 2020. Significant results were reported from drill holes ZDDH00063, ZDDH00057, ZDDH00059, ZDDH00051, and ZDDH00066.
Highlights included ZDDH00063 – 166.00m @ 0.57g/t Au from 166.00m including 39.00m @ 1.22g/t Au from 277.00m; 16.00m @ 2.96g/t Au from 300.00m; and 5.00m @ 9.09g/t Au from 311.00m; ZDDH00057 – 22.00m @ 1.03g/t Au from 22.00m; 77.00m @ 1.13g/t Au from 274.00m including 42.00m @ 1.97g/t Au from 279.00m; and 15.00m @ 3.25g/t Au from 283.00m; ZDDH00059 – 87.50m @ 0.72g/t Au from 194.50m including 34.60m @ 1.29g/t Au from 207.00m; and 5.60m @ 4.37g/t Au from 236.00m; ZDDH00051 – 98.00m @ 0.95g/t Au from 249.00m including 31.00m @ 1.55g/t Au from 251.00m; and 14.00m @ 3.60g/t Au from 255.00m; and ZDDH00066 – 137.00m @ 0.51g/t Au from 306.00m including 47.00m @ 1.00g/t Au from 389.00m; 23.00m @ 1.09g/t Au from 389.00m; and 19.00m @ 1.24g/t Au from 424.00m.
TSO said that a new hole, ZDDH00069 was drilled to test the continuity of mineralisation intercepted in previously reported holes ZDDH00059 and ZDD00057 and extensions to the east-north east of Ternera. In total, the Company has drilled 81 diamond drill holes for 21,700.76m at Ternera.
Massive drill intercepts from ZDDH00069
Tesoro reported that the drill hole ZDDH00069 returned a wide, well mineralised intercept with a thick high-grade zone of 33.00m @ 5.09g/t Au. The wide intercept was returned associated with the CC450, CC475, and CC500 faults, with results indicating that mineralisation in this area is continuous between faults.
The company said that the hole confirms the continuity of mineralisation along the eastern edge of the Ternera deposit for over 500m of strike and adds to the previously reported results from this mineralised zone area of (from north to south).
Significant intercepts from drill hole ZDDH00069 included 267.00m @ 1.12g/t Au from 147.00m including 132.00m @ 1.89g/t Au from 234.00m; 45.00m @ 4.02g/t Au from 292.00m; 33.00m @ 5.09g/t Au from 292.00m; and 11.00m @ 7.73g/t Au from 292.00m.
TSO said that the best results from the hole were returned from a zone where the east-west CC faults are close to a major north-south trending fault zone, believed to be a conduit for gold mineralising fluids.
Updates and next steps
Tesoro said that further work will be focused on drill testing the Ternera mineralisation and additional prospects as defined in the work program. The company said that the core will be used for metallurgical testwork and resource modelling is planned.
TSO said that in total, 81 diamond drill holes were drilled for 21,700.76m at Ternera. The company said that a further 30,000m resource definition and extensional drill program has been planned at Ternera in Q1 2021, with the aim of delineating a maiden resource estimate by June 2021, contingent upon the ultimate deposit size. Furthermore, a maiden drilling program will commence in January 2021 at the emerging Toro Gordo target to the south of Ternera. Toro Gordo will be the first target of six to be drilled outside of Ternera.
The company said that the initial Scoping Study activities and data collection will commence in January 2021 and run in parallel with the Company’s exploration programs.
Tesoro said that it remains focused on progressing the El Zorro Project through to development as quickly as possible.
Tesoro Managing Director, Zeff Reeves commented: “Hole ZDDH00069 is exceptional and is now the eleventh hole we have drilled returning over 100g/m’s. The consistency of mineralisation being drilled along the eastern flank of Ternera demonstrates the potential scale of the entire El Zorro Gold System.
It seems the more we drill, the more gold we are finding, and it is a testament to our technical team in Chile and our exploration model. This result is one of the best to date and we can see major extensions developing to the east of Ternera with further holes planned to continue to define this zone.”