Tesoro intersects high-grade mineralisation at depth
Tesoro Resources Limited (ASX:TSO) has released final assays for the first drill hole in the initial 10-hole program currently underway at the El Zorro Gold Project in Chile.
The final results from drill hole ZDDH00017 have more than tripled the downhole width of the previously reported drill intercept to 86.4 metres at 2.3 g/t gold, with a higher-grade zone returning 50.5 metres at 3.6 g/t gold.
Significant intercepts identified at deeper levels of around 200 metres included 23 metres at 7.2 g/t gold, 15 metres at 10.8 g/t gold and 5.3 metres at 25.3 g/t gold.
Commenting on these latest results and their significance in terms of the group’s broader exploration program, managing director Zeff Reeves said, “The final assay results for ZDDH00017 further demonstrate the thick, high grade nature of the mineralisation at El Zorro.
‘’This is the fourth hole Tesoro has drilled at El Zorro which has returned a greater than 100g/m intercept which is phenomenal considering the stage the project is at.
‘’We are encouraged by the strong mineralisation well into the footwall sediments, which demonstrates that proximity to the wide controlling structures can provide the right ingredients for gold mineralisation regardless of rock type.
‘’We have used this information to continue to fine tune our exploration model and have identified further extensions that we intend to drill during the year and continue to expand the scale of El Zorro.”
The following table shows the full assay results that have been received for the lower, main mineralised zone.
Just the start of an aggressive drilling campaign
Tesoro has previously drilled 16 diamond drill holes at El Zorro, delineating a large gold system with all holes intersecting gold mineralisation and multiple 100g/m intercepts reported from the Coquetas target at El Zorro.
Drilling completed to date including a snapshot of ZDDH00017 (see yellow box to the north) and the location of the site the south-east where drilling is currently taking place is illustrated on the following map.
The current drilling program commenced on 7 February 2020, with an initial 10 diamond drill holes planned to extend the Coquetas drilled mineralised zone from 350 metres of strike to over 800 metres of strike and up to 300 metres depth.
Mineralisation at Coquetas has been identified at surface and to date has been drilled to a depth of 300 metres.
From a geological perspective, gold mineralisation is controlled by north west striking fault systems which intersect the main host rock (El Zorro Tonalite – EZT) which forms wide (identified to date up to 250 metres wide) sheeted vein complexes, that have been subsequently mineralised with gold bearing fluids.
Shares in Tesoro have increased three-fold in March on the back of strong exploration results.
Given that the current hole being drilled (ZDDH00021) is designed to intersect the southern extensions of mineralisation encountered in both the upper and lower zones of ZDDH00017, there could be further share price catalysts to come.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
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.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.