Tesoro Resources is an Australian public company with exploration stage gold assets in Chile. Founded in 2017 by the members of the Board, Tesoro is focused on acquiring and developing high grade gold assets that have potential to be district scale mining projects.

Tesoro is managed by experienced mining professionals with strong geological and finance backgrounds as well as significant in-country expertise. Tesoro executed an earn-in agreement over the El Zorro Gold Project in 2017 from a local Chilean vendor and is currently undertaking exploration programs. The company is currently drilling at the El Zorro gold asset and they are looking to produce a maiden resource estimate shortly.

Tesoro recently had some good drill results and they are continuing to grow the deposit. They now need to produce some numbers to get the permit applications through and they see a pathway to a deposit that produces 100,000oz a year over a 10 year mine life from an open pit mine.

The resource has a boundary and a lot of drilling is planned outside that boundary which has had some big hits. There will then be in-fill drilling going forward and a scoping study will start to show the scale of the potential mine. Tesoro is budgeted and scheduled to drill right through to the end of the year to continue to grow the resource.  

The investment market is currently nervous of Chilean projects due to the forthcoming elections and this in addition to the subdued gold sector has resulted in a low share price for the company but as Tesoro moves from an exploration project to a resource definition and development project, they hope to see some value return to the stock.