Tesoro Gold
Primary tickers: ASX:TSO, OTCQB:TSORF, FSE:5D7
Stage of development: Development
Primary mineral: Gold
Project to promote: El Zorro
Project location: Chile
Website: www.tesorogold.com.au
Tesoro Gold Limited (ASX:TSO) is an Australian-listed gold company that successfully discovered, and is rapidly advancing, the first district-scale Intrusive Related Gold System (IRGS) in Chile.
The El Zorro Gold Project is located in the Coastal Cordillera region of Chile and hosts the flagship 1.5 Moz Ternera Deposit. Ternera has an Exploration Target of 3Moz, as well as a range of compelling regional gold targets.
Global major gold producer, Gold Fields Ltd, holds a 17.5% interest in Tesoro, having made its initial strategic equity investment in November 2022.
Cash: AU$3,856,976
Debt: Nil
Major shareholders:
CORPORATE INTERNATIONAL HOLDINGS – 13.07%
HSBC CUSTODY NOMINEES (AUST) LTD – 12.23%
SANDHURST TRUSTEES LTD ATF COLLINS ST VALUE FUND – 6.26%
BELL POTTER NOMINS ATF BB NOMINEES – 5.85%
CITICORP NOMINEES PTY LTD – 4.43%
MANAGEMENT OWNERSHIP – 7%
Financials
Management Profile
ZEFF REEVES, MANAGING DIRECTOR
Geologist with >20 years of experience in the resources sector on resource projects from greenfields exploration, discovery, definition & feasibility, construction, production to closure. Zeff previously Managing Director of ASX listed Metallum Ltd which had a number of development & operational projects in Chile. He has also held senior management positions with companies developing projects in Brazil. He has had previous exploration success identifying & delineating new gold districts in Brazil and Chile.
What is your rationale for taking part in 121 Mining Investment?
To increase awareness of Tesoro Gold’s unique Intrusive Related Gold System (IRGS) discovery in Chile. The first IRGS to be discovered and defined in Chile. The future growth and development potential, with a focus on sophisticated investors who recognise the untapped regional opportunity.
What recent news would you like to highlight to investors attending?
It is important that investors fully grasp Tesoro’s district-scale opportunity. Work to date successfully delineated the 1.5Moz Ternera Gold Deposit. This initial Mineral Resource Estimate was defined to demonstrate a starting point for the in-ground value of Chile’s first intrusion-related gold system, with such systems typically occur in clusters. Tesoro firmly believes that the Ternera Deposit is the first of many deposits yet to be uncovered and, importantly, rapidly moved to secure arguably the largest and most prospective land package in Chile.
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Drilling to rapidly grow the resource and make new discoveries.
6 Months:
Increase Mineral Resource and Updated Project Economics.
12 Months:
Continue to expand project scale, finalise water and grid power access.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
A key challenge has been effectively communicating to investors our, systematic approach to drill targeting, following the initial Ternera discovery. The approach has been designed to deliver optimal long-term outcomes.
What do you think makes your company such a compelling investment?
Compelling outcomes from an early economic study completed on an initial starter pit enable savvy investors to look through and identify a much larger development opportunity, via further growth and discoveries.
What are the top 3 key investor takeaways?
First mover advantage in a newly discovered style of mineralisation for Chile, a world-renowned mining jurisdiction.
Significant Resource base, with proven starter pit economics.
Huge exploration upside.