According to the Miningnews.net website, Tesoro Gold announced that its La Brea project at El Zorro in Chile is a "large gold ore deposit."
All initial drill holes at the project "intersected broad alteration zones with gold anomalies."
The drilling, located 15 km north of the 2 million-ounce Ternera deposit, comprised five holes and completed 1,117 meters.
Tesoro stated that the work at La Brea shares characteristics similar to the early drilling discoveries at Ternera. The drill intersections were as follows:
◎At a depth of 71.4 meters, it intersected 1.12 meters of ore with a gold grade of 1.6 grams per mt;
◎At a depth of 51.4 meters, it intersected 0.6 meters of ore with a grade of 4.2 grams per mt;
◎At a depth of 76.3 meters, it intersected 4.2 meters of ore with a grade of 0.56 grams per mt, including a 0.9-meter-thick ore body grading 1.92 grams per mt.
"This reminds us of the early drilling at Ternera, where initial holes encountered variable ore bodies, and subsequent drilling revealed a 2 million-ounce deposit," said Tesoro manager Reeves Zeff.
"Clear evidence indicates that El Zorro has the geological conditions to host multiple deposits, and today's results suggest the potential for a series of discoveries in the future."
Tesoro plans to drill 38,000 meters at the El Zorro project, with 26,000 meters allocated for infill and step-out drilling, followed by a pre-feasibility study and 12,000 meters of drilling at untested targets.
