Tesoro Gold has reported exceptional high-grade gold intercepts 400 metres below the existing open pit at its Ternera Gold Deposit in Chile, signalling potential for a significantly longer mine life and an imminent resource upgrade.
- High-grade gold assays of 27.70g/t and 9.89g/t Au at depth
- Mineralisation extended 400m down plunge beyond 2025 open pit shell
- Ongoing 38,000m drilling campaign with five rigs active
- Infill drilling to upgrade resource classification by end Q1 2026
- New mineralisation discovered north and south of current resource
Strong Depth Extensions Confirmed
Tesoro Gold Limited has unveiled a compelling set of assay results from its ongoing diamond drilling at the Ternera Gold Deposit, part of the El Zorro Gold Project in Chile. The standout news is the interception of very high-grade gold mineralisation at depths reaching 400 metres down plunge, approximately 200 vertical metres below the open pit shell defined in the company’s 2025 Scoping Study.
This deeper mineralisation, highlighted by intercepts such as 1 metre at 27.70 grams per tonne (g/t) gold and 0.54 metres at 9.89 g/t gold, confirms that Ternera’s gold system remains open at depth. These results suggest the deposit’s potential extends well beyond the current resource boundaries, offering a tantalising prospect for a materially longer mine life.
Comprehensive Drilling Campaign Underway
The latest batch of results comes from fifteen holes drilled as part of a broader 38,000-metre campaign, which includes infill, extensional, and new discovery drilling. Five rigs are operating around the clock, underscoring the company’s commitment to rapidly advancing the project.
Infill drilling, accounting for roughly 20,000 metres, aims to upgrade the Mineral Resource classification in preparation for a near-term resource update expected by the end of the first quarter of 2026. Extensional drilling, approximately 6,000 metres, targets shallow and deep extensions to the north and south of the existing deposit. Meanwhile, a further 12,000 metres focus on district-scale exploration at nearby prospects such as Kitsune, Calderillas, and Toro Blanco.
Implications for Project Development
Managing Director Zeff Reeves emphasised the significance of these results, noting that the strong mineralisation at depth and along strike supports Tesoro’s confidence in Ternera’s growth potential. The discovery of high-grade zones beyond the current Mineral Resource Estimate (MRE) footprint could enhance the project’s economics and extend its operational timeline.
Additionally, the infill drilling results have consistently intersected mineralisation at expected positions, reinforcing the reliability of the existing resource model and setting the stage for an upgraded MRE. This upgrade will be a critical milestone as Tesoro advances towards feasibility studies and eventual development decisions.
Technical Rigor and Forward Outlook
The drilling and sampling protocols adhere to industry best practices, with half-core diamond drilling and rigorous assay quality controls conducted at accredited laboratories. The company’s geological team, supported by independent consultants, has verified the results, ensuring confidence in the data’s integrity.
While assays for 23 additional holes remain outstanding, the current results already paint a promising picture. Investors and analysts will be watching closely as Tesoro progresses its resource upgrade and continues to explore the district-scale potential of El Zorro.
Bottom Line?
Tesoro’s deep, high-grade hits at Ternera could redefine the project’s scale and timeline, next up, the resource upgrade.
Questions in the middle?
- How will the upcoming Mineral Resource upgrade impact Tesoro’s valuation and project economics?
- What are the implications of the new northern and southern extensions for mine planning?
- How might ongoing district-scale drilling at El Zorro influence Tesoro’s growth strategy?