El Zorro

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.

The project site is well supported by established infrastructure and is only 50 minutes by road from the port of Caldera and approximately 15km inland from the Pan American Highway.

Tesoro has rights to acquire up 80% of the project by completion of a feasibility study by 2022.

El Zorro Project location showing proximity to established infrastructure

The oldest rocks in the El Zorro area are Palaeozoic sediments which have been intruded by a Jurassic diorite body of the Coastal Batholith Series which has thermally metamorphosed the sediments around the contact area.

Historical mining by artisanal workers at El Zorro is limited and has largely concentrated on early stage quartz veins in and around Ternera within the El Zorro Tonalite.

Since becoming involved in the project in mid-2017, Tesoro has carried out a number of exploration programs including drilling which has reported some promising results with a number of holes reporting over 100 g/m gold intercepts.

ZDDH004 – 10.00m @ 4.53g/t Au from 56.00m

  • Incl 4.00m @ 9.60g/t Au from 57.00m

ZDDH0010 – 84.30m @ 1.30g/t Au  from 75.00m

  • Incl 4.00m @ 8.50g/t Au from 93.00m

ZDDH0011 – 98.30m @ 1.58g/t Au from 176.00m

  • Incl 30.30m @ 3.03 g/t Au from 181.70m
  • Incl 9.00m @ 5.07 g/t Au from 203.00m

ZDDH0012 – 58.80m @ 1.70g/t Au from 0.00m

  • Incl 20.30m @ 4.50g/t Au from 1.70m
  • Incl 2.40m @ 33.35g/t Au from 2.30m
  • Incl 6.70m @ 12.21 g/t Au from 1.70m

ZDDH0017 – 86.54m @ 2.29g/t Au from 167.55m

  • Incl 55.50m @ 3.63g/t Au from 182.70m

ZDDH00018 – 34.73m @ 2.94 g/t Au from 187.27m

  • Incl 15.00m @ 5.99g/t Au from 189.00m
  • Incl 2.70m @ 22.21g/t Au from 197.00m

ZDDH00025 – 121.55m @ 1.32 g/t from 49.99m

  • Incl 12.27m @ 4.98 g/t Au from 148.00m

ZDDH00029 – 213.50m @ 0.73 g/t Au from 29.50m

  • Incl 63.50m @ 1.81 g/t Au from 29.50m
  • Incl 5.20m @ 3.36 g/t from 56.64m

ZDDH00031 – 231.00m @ 0.83 g/t Au from 72.00m

  • Incl 54.00m @ 1.69 g/t Au from 72.00m
  • Incl 25.00m @ 3.36 g/t Au from 100.00m
  • Incl 14.70m @ 3.77 g/t Au from 193.30m
  • Incl 3.66m @ 10.76 g/t Au from 204.34m

ZDDH00049 – 111.50 m @ 1.25 g/t Au from 124.00m

  • Incl 27.50m @ 3.57 g/t Au from 154.00m

ZDDH00055 – 221.20m @ 0.62 g/t Au from 20.00m

  • Incl 40.50m @ 1.51 g/t Au from 48.00m
  • Incl 41.20m @ 1.13 g/t from 200.00m

ZDDH00057 – 77.00m @ 1.13 g/t Au from 274.00m

  • Incl 32.00m @ 2.32 g/t Au from 279.00m

The Ternera Prospect now has proven gold mineralisation for over 1,000m strike, 400m depth and up to 350m wide. Mineralisation remains open in all directions.

Map of the Ternera Deposit geology and drilling,  >1,000m strike drilled, >1,000m strike surface mineralisation

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.

Ternera Prospect – 3D Modelling Defining Major Multiple Extensions

El Zorro Project district map showing surface sampling highlights at new prospects

Tesoro has an aggressive exploration and development campaign planned and is focussed on delivering a maiden resource at El Zorro.

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