Tesoro Gold Nears Ternera Infill Completion, Eyes New Discovery Drilling

Ternera Infill Drilling Validates Deposit Continuity

Tesoro Gold Limited (ASX:TSO) is wrapping up its infill drilling campaign at the Ternera Gold Deposit, part of the El Zorro Gold Project in Chile, with assay results from eleven recent holes reinforcing the deposit’s hallmark continuity and grade distribution. Highlights include a 66.3-metre intercept grading 1.71 g/t gold, featuring higher-grade zones exceeding 6 g/t Au, and a remarkable 137.7-metre intercept at 0.67 g/t Au with segments above 10 g/t. These results underpin the robustness of the existing Mineral Resource Estimate (MRE) and geological model.

With just five holes left to drill and assays pending for sixteen others, the final infill data will feed into an updated MRE and pave the way for a maiden Ore Reserve declaration. This milestone is crucial as it supports the transition from exploration to development planning, giving investors a clearer picture of Ternera’s economic potential.

Transition to New Discovery Drilling Along 40km Gold Corridor

Upon completing the infill programme, Tesoro plans to redeploy three diamond rigs to a 12,000-metre drilling campaign focused on new discoveries across the El Zorro gold corridor, a structurally significant 40-kilometre mineralised trend. Initial targets include near-deposit extensions at Ternera East and Drone Hill, where the company sees potential to add ounces close to existing infrastructure, as well as district-scale prospects such as La Brea and Pena Blanca.

Managing Director Zeff Reeves emphasised the strategic shift: “Our drilling focus will progressively move towards adding new ounces through near-deposit growth and new discovery drilling. The continuity profile of Ternera supports a straightforward mining operation, and we are excited to test multiple high-priority gold targets across the corridor.”

Drilling Campaign and Technical Confidence

The ongoing 38,000-metre diamond drilling programme at El Zorro employs six rigs, with infill drilling designed to upgrade resource classification to Indicated status, critical for Ore Reserve calculations and Definitive Feasibility Study (DFS) level mine planning. To date, 76 holes (25,210 metres) have been completed at Ternera, with assays received for 60 holes. The recent batch of results continues to confirm mineralisation at predicted downhole locations, validating the geological interpretation and block model.

Assay quality and sampling protocols meet industry standards, with half-core samples analysed at accredited laboratories using fire assay fusion and gravimetric finish. The company’s Competent Persons have verified all significant intercepts.

Looking Ahead: Resource Upgrades and District Exploration

As the infill drilling concludes, Tesoro is poised to update its MRE and declare a maiden Ore Reserve for Ternera, key steps that could unlock further project valuation and financing options. Concurrently, the new discovery drilling programme aims to expand the footprint of mineralisation along the El Zorro corridor, which recent geophysical surveys have extended to over 40 kilometres.

This dual approach balances near-term resource definition with longer-term growth potential, positioning Tesoro to capitalise on both known and emerging targets. The company’s methodical progression from infill to discovery drilling reflects a disciplined strategy to build a substantial gold inventory in a well-endowed Chilean district.