MAIDEN DRILLING CONFIRMS SIGNIFICANT GOLD SYSTEM AT LA BREA

Early holes at Tesoro’s La Brea target return strong gold intercepts, mirroring El Zorro signatures

Tesoro Gold Limited (ASX:TSO, OTCQB:TSORF, FSE:5D7) has reported significant gold assay results from its maiden diamond drilling program at the La Brea target, part of the El Zorro Gold Project in Chile.

All five holes drilled (totalling 1,117m) returned positive results, with mineralisation intersected in favourable host rock showing wide alteration zones and anomalous gold. The La Brea target lies approximately 15km north of the 2.0Moz unconstrained Ternera Gold Deposit.

Drilling highlights include:

1.12m @ 1.61g/t Au from 71.40m (ZDDH0401)
0.60m @ 4.19g/t Au from 51.40m (ZDDH0402)
4.20m @ 0.56g/t Au from 76.30m (ZDDH0402), including:
- 0.90m @ 1.92g/t Au from 76.30m
1.96m @ 2.17g/t Au from 197.50m (ZDDH0402)
0.49m @ 2.20g/t Au from 66.96m (ZDDH0403)
0.75m @ 1.43g/t Au from 198.00m (ZDDH0403)

Tesoro stated that the geological characteristics at La Brea reflect early drilling signatures observed at Ternera. Additional drilling is now underway to further delineate the La Brea target, with 38,000m planned in the current campaign.

Tesoro Managing Director, Zeff Reeves, commented:

These results from the first ever holes drilled at La Brea represent an exciting start. All holes intersected favourable host rock, with extensive alteration and wide zones of anomalous gold mineralisation, including discrete higher-grade intercepts.

This is strongly reminiscent of the earliest drilling at Ternera, where the initial holes intersected the margin of the system, before follow up drilling uncovered what has become a growing two million ounce deposit. The geological characteristics observed at La Brea, closely mirror that early signature, which gives the team considerable confidence that we are on the edge of a significant mineralised system.

Planning is underway for follow up at drilling La Brea, alongside initial drilling programmes for several other high quality target. We continue to see clear evidence that El Zorro has the geological potential to host multiple deposits, and today’s results reinforce the potential for a pipeline of future discoveries.