Tesoro Resources Limited (ASX: TSO) has made application for additional concessions adjoining the El Zorro Gold Project in Chile, with the aim of expanding its interests there by 360%.
Managing Director, Zeff Reeves, said the company has made 156 new applications which will expand the El Zorro concession package to cover approximately 395 sq. km of prospective geology.
Following a regional geological review of the belt hosting El Zorro we have identified additional areas that we believe to be prospective for gold mineralisation, similar to the style that we are currently delineating at the Ternera prospect, where drilling is ongoing,” Mr Reeves said.
“With the benefit of our understanding of gold mineralisation at Ternera, the Tesoro team has identified over 55km of strike immediately north and south of the existing El Zorro concession holdings.
“The addition of this ground places a majority of the prospective belt under Tesoro’s control and places the Company in a sound position for any potential future discoveries similar to Ternera within the region”.
Under the Chilean Mining regulations Tesoro has made application for an additional 156 new concessions and submitted all the required documentation to commence the registration of the new concessions. The company will be notified within 40 days if any prior, competing concession applications have been made by third parties, over the areas that Tesoro has applied for. If no prior third-party applications have been made Tesoro will gain the mineral rights to those areas and the concession will be granted.
