SE Asia Consulting Pte Ltd

Tesoro Gold Limited – ASX:TSO

Tesoro Gold Limited is an Australian public company (ASX:TSO, OTCQB:TSORF) which discovered the 1.5 million ounce Ternera Gold Deposit, the first Intrusive Related Gold System (IRGS) identified in Chile. Gold Fields the worlds 5th largest gold mining company made a strategic investment and is now a 14.86% shareholder in Tesoro Gold. Tesoro Gold has conducted extensive diamond drilling, with over >300 diamond drill holes and in excess of 10kms of diamond drilling to define a 1.46 million ounce (Moz) gold resource at the Ternera Deposit.

The Ternera Deposit has an Exploration Target of 48.5 Mt to 101.0 Mt at 0.91 g/t Au to 1.45 g/t Au, which indicates that Ternera could potentially contain between 1.6 Moz and 3.0 Moz of gold.

The El Zorro Gold project has a large surface gold footprint on 570km2 of tenure, its located 15km from the Pan American Highway, 15km from the Pacific Ocean and 20km from grid power. All metallurgical test work has been completed with seawater, with 45% of gold recovered by gravity and a total gold recovery of 94.5%.

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Tesoro Gold released a Scoping Study on the Ternera Gold Deposit showing a simple, robust gold project with conventional mining and metallurgy, located close to key infrastructure in a well-established, supportive mining jurisdiction, with a forecast average AISC US$1,068/oz and an NPV of US$300 million.

Tesoro Gold’s progress and updates can be found on their official website and social media channels such as Twitter and LinkedIn. They regularly share news and announcements regarding their exploration activities, drilling results, and the overall progress of the El Zorro Gold Project. Investors interested in Tesoro Gold can access their investor hub for more detailed information.

What motivated the founders of Tesoro Gold Limited to establish the company and focus on gold exploration in Chile?

Chile has a significant mineral endowment, including the world’s largest reserves of copper and lithium, Chile is the world’s largest producer of copper and the world’s second largest producer of lithium. It’s a Tier 1 mining jurisdiction, with 4 out of 10 of the world’s largest copper mines, but remains under explored for gold and especially for IRGS in the Coastal Cordillera region.

Can you provide an overview of the El Zorro Gold Project and its significance to Tesoro Gold’s operations?

El Zorro is unique because it’s the first IRGS system identified and defined in Chile, hence Tesoro Gold has the first mover advantage for IRGS in Chile and controls a district scale land position via its 570km2 of concessions. IRGS typically host multiple multi-million ounce deposits, as evidenced by the Tintina Province in Alaska.

What are the key achievements and milestones Tesoro Gold has accomplished since its inception in 2017?

Discovered and identified the first IRGS in Chile, defined a 1.46 million ounce gold resource, completed a scoping study showing a technical and financially robust mining project. One of the world’s largest gold mining companies, Gold Fields made a strategic investment and now holds a 14.86% investment in Tesoro Gold.

How does Tesoro Gold approach exploration and drilling activities to identify and define gold resources?

Tesoro’s local workforce undertake extensive mapping, rock chip sampling and trenching. Once the data is collected, they collate and interpret this data then undertake diamond drilling. The team has an exceptional drilling success rate, with >90% of diamond drillholes intersecting mineralisation.

Can you share any recent drilling updates or significant findings from the Ternera Deposit within the El Zorro Gold Project?

Two of the best diamond drill result to date include:434.60m @ 1.22g/t Au; incl. 89.95m @ 3.07g/t Au, incl. 20.80m @ 9.19g/t Au ; and 63.93m @ 7.61g/t Au; incl. 7.00m @ 66.10g/t Au. Drilling at the Ternera Gold Deposit has resulted in more than 20 holes that are >100 gram meter intercepts including: 67.00m @ 3.44g/t Au; incl. 13.50m @ 15.84g/t Au.

What are the growth strategies and future plans for Tesoro Gold in terms of expanding its gold assets and advancing its projects?

The Ternera Deposit remains open in all directions, there are multiple continuous high-grade zones and wide-spaced drill intercepts outside of the current 1.46 million ounce resource. Tesoro Gold has identified multiple high-priority targets within its 570km2 of concessions and will continue to drill test these targets with the objective of identifying multiple deposits and extending the know mineralisation.

How does Tesoro Gold prioritize environmental and social sustainability in its exploration and mining operations?

Tesoro Gold has established a greenhouse on site which is used to store and nurture plants that would be disturbed by the companies activities. There are no local communities who reside on the El Zorro Gold Project and being located in the Atacama Desert, the driest place on earth means there are no inhabitants on the property.

What role does technology and innovation play in Tesoro Gold’s exploration and resource development processes?

Tesoro Gold uses drones for reconnaissance, exploration, social and environmental management and is exploring the use of other technologies for more efficient drilling and sampling methodologies.

How does Tesoro Gold engage with local communities and stakeholders in Chile to ensure positive relationships and mutually beneficial outcomes?

>90% of employees are Chilean, most or our service producers are local businesses and all staff stay in the local town of Caldera a 45 minute drive from site. There are no local communities who reside on the El Zorro Gold Project and being located in the Atacama Desert, the driest place on earth means there are no inhabitants and very little vegetation or wild life.

Can you provide insights into the market conditions and trends in the gold exploration sector and how Tesoro Gold positions itself within the industry?

Current market conditions for gold equities are challenging. This has meant that very few new green fields discoveries have been made, such as Tesoro Gold’s Ternera deposit. This is the opportunity that Tesoro Gold’s founder’s identified and why the company was able to acquire El Zorro, establish a district scale land position and first mover advantage. This has been validated by the Gold Field’s investment.

What are the key factors that differentiate Tesoro Gold from other gold exploration companies operating in Chile or globally?

Gold Fields the worlds 5th largest Gold mining Company by Market Capitalisation and production made a strategic investment and is 14.86% shareholder. El Zorro is the first Intrusive Related Gold System (IRGS) identified in Chile, giving Tesoro Gold the first mover advantage and the Company controls a district scale land package which has the potential to host multiple multi- million ounce gold deposits.

How does Tesoro Gold plan to attract and retain investors and what potential value does the company offer to its shareholders?

Tesoro Gold is constantly growing its resources, de-risking the Ternera gold deposit and exploring its 570km2 of concessions with the objective of making new discoveries. Very few junior gold companies attract investment from the major gold mining companies. The ones that are successful in attracting the major’s clearly have the potential to host multiple multi-million ounce deposits of 5 million ounces or more.

Tesoro Gold Limited Contact Details

Tesoro Gold Limited
Level 48, 152-158 St Georges Terrace
Perth, WA 6000

Phone: +61 8 6311 9160



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