Tesoro assay results provide positive share price momentum

By Trevor Hoey. Published at Apr 6, 2020, in Mining

Shares in Tesoro Resources Limited (ASX:TSO) traded more than 10% higher on Monday morning after the company released surface assay results for rock chip samples and soil samples from the Espina Gold Project, Chile.

The results further enhance Espina’s potential to host large scale, high grade gold mineralisation.

Espina is Tesoro’s second Chilean project and is located about 50 kilometres from the Chilean capital city, Santiago.

In late 2019, prior to the company’s admission to the ASX, a detailed mapping and sampling program was undertaken at Espina to assess previously identified gold mineralisation along the Puertelera and Infernillio Structures.

A total of 130 rock chip, channel samples and 441 soil samples were collected from this area which is illustrated below.

Results have delineated zones of strong gold mineralisation along the Puertelera structure and a large gold in soil anomaly at the northern end of the Infernillio Structure at Dona Clara which lies to the west of Libera.

Gold rich portion appears to be preserved

Associated geochemical anomalism also indicates that the gold rich zone of the Espina epithermal system remains preserved and has not been eroded away, further enhancing the prospectivity of the project.

Commenting on these recent developments and their impact on the group’s exploration strategy, Tesoro managing director Zeff Reeves said, “The surface results from Espina reinforce our view that the project is highly prospective, as they not only demonstrate the extensive strike of the mineralised structures, but more importantly the geochemical signature tells us that the gold rich portion of the system appears to be preserved and has not been eroded away.

‘’This further enhances the project and we will continue to focus on the resultant stronger zones of the system to delineate drill targets.”

Tesoro plans to continue exploration at Espina with the aim of delineating future drill targets.

Next steps will include trenching across prospective mineralised zones along the Puertelera trend and at Dona Clara (see below) to obtain controlled bedrock samples and provide detailed geological information.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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