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Any wonder he's buying? He's about to pot the black..

Tesoro Resources kicks-off next drilling round atEl Zorro,

targets high-grade Ternera prospect

By

Lorna Nicholas

-

July 3, 2020

Previous assays from Tesoro’s high-grade Ternera prospect comprised 86.45m at 2.29g/t gold (198g/m gold), including 23m 7.2g/t gold.

Tesoro Resources(ASX: TSO) has kicked-off infill andextensional drilling at its flagship El Zorro gold project in Chile, with tworigs onsite at the high-grade Ternera prospect.

Drilling is initially targetingTernera and following up on previous intersections that include numerousintervals exceeding 100 grams per metre of gold.

Previous highlight assays fromTernera were

86.45m at 2.29g/t gold (198g/m gold),including 23m 7.2g/t gold;

98.3m at 1.58g/t gold (155g/m),including 30.3m at 3.03g/t gold;

and 84.3m at 1.3g/t gold (110g/m),including 4m at 8.5g/t gold.

To assist with refining the planned20-hole for 5,000m drilling program, Tesoro will start a trial inducedpolarisation survey next week.

Meanwhile, surface sampling isunderway at Ternera and Toro Gordo, with assays expected within three weeks.

Commenting on the next drillingphase, Tesoro managing director Zeff Reeves said the company’s team was“pleased” to be back on the ground at El Zorro. “We have commenced this programwith an initial two diamond drill rigs, drilling infill and extensional holesat Ternera.”

“To-date, Ternera has produced someencouraging results and we are moving quickly to expand on these to furtherdelineate the deposit.”

Mr Zeeves added the company also hadseveral other activities underway to advance the project “as quickly aspossible”.

Metallurgical testwork on Ternera ore achieved up to 99% gold recoveries. The testwork was carried out on a 50kg sample of material taken from four drill holes at Ternera.

Initial results show the ore is freemilling and amenable to standard cyanide leaching processes.

From theProspectus..

The approachto exploration by Tesoro has been successful to date and CSA Global alsorecommends the following:

• El ZorroProject:

o Further drilling to test the plungeand down-dip positions of vein systems and to drill test offsets to the northmay add valuable information on the grade distribution - DONE

o Core drilling with a suitableelectronic orientation device is recommended to generate better three dimensionalorientation data of vein orientations over the full strike of mineralisation - DONE

o Topographic control using asuitable system such as light detection and ranging (LiDAR) or from the productsderived from airborne geophysical surveys - DONE

o Complete metallurgical test work – DONE/DOING

o Continued quality assurance/qualitycontrol (QAQC) on all drilling and any sampling completed (rock chip, channelsetc.). – DONE/DOING

+ From July 3 Notice..

Data collection activities have commenced for scoping study inputs including metallurgical, geotechnical, hydrological and environmental studies

From theProspectus..

2.8.1Drilling Completed by Tesoro

Tesoro completed 16 drillholes for 3,085 m in two drillingprograms during 2017 and 2018. The drilling programs targetednorthwest-trending mineralised structures identified from previous mapping andhistorical drilling. The primary aim of the program was to test and validate historical drill results reported by CDE as part of Tesoro’s technical due diligence on the property.

2.8.2Summary of Tesoro Drilling Results

Tesoro intersected significant goldmineralisation in its drilling and in doing so achieved the goal ofvalidating the general tenor of gold mineralisationachieved by CDE. The diamond drill core provides an insight into the distribution of mineralisation and encouragement for further exploration.

Geological Mapping and Sampling

CDE mapped an area of approximately1,200 m x 500 m centred on the Coquetas mineralisation at a scale of 1:1,000 and undertookextensive surface rock sampling

From July 3 Notice

1200 x 500 x 300.. Ternera “1,200 m x 500 m centred on the Coquetas”

The strike at Ternera stretches a long way and trying to map it in perspective shows just how hard it is to fit all information on to an A4 page release..

Top7 Big Hitters from CDE shown.. All above the 100 gram meter + target and all add to the current 5 100 gram meter holes on record.