VERY HIGH-GRADE GOLD DISCOVERED AT DRONE HILL

First Pass Drilling at Drone Hill Returns up to 173g/t

Tesoro Gold Limited (ASX: TSO) is pleased to report assay results from three holes of first-pass diamond drilling at the Drone Hill target, which have returned grades of up to 173g/t gold. The Drone Hill target is approximately 700 metres northwest of the 1.3 Moz Ternera Gold Deposit (Ternera) and is one of four high-priority drill targets located within a 1.5 km radius of Ternera.

Highlights:

  • Exceptional results returned from diamond drilling at the Drone Hill target confirm the continuity of high-grade fault zones extending northwest from Ternera.
  • Shallow, very high-grade gold has been returned in hole ZDDH0338:
    • 1.8m @ 77.15g/t Au from 59.2m, including:
      • 0.8m @ 173.00g/t Au from 59.2m; and
    • 3.0m @ 2.48g/t Au from 111.0m including:
      • 1.0m @ 7.06g/t Au from 111.0m.
  • A further four diamond drill holes have been completed, two at the Buzzard target and two at Ternera East, with assay results expected in the coming weeks.

Tesoro Managing Director, Zeff Reeves, commented:

The exceptional results returned from first pass drilling at Drone Hill are highly encouraging and represent some of the highest grades intersected at the El Zorro Gold Project to date. Gold discovered in these initial holes is associated with a northwest-trending fault system that also hosts high-grade mineralisation within the Ternera Gold Deposit. This fault system has the potential to link Ternera to Drone Hill over 700 metres of strike. We are focused on exploration at four high-priority targets to delineate additional shallow gold extending from or near to Ternera. Any additional resource ounces that are discovered so close to our existing deposit have the potential to meaningfully elevate the already attractive Ternera economics

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