Case Study - Tesoro Resources (ASX:TSO)

December 19, 2020

Tesoro Resources Ltd (ASX:TSO) is a Chilean gold explorer with exploration stage gold assets. The company is focused on acquiring and developing high grade gold assets that have potential to be district scale mining projects, most notably its El Zorro Gold Project, which Tesoro owns 85% of.

Investment highlights of Tesoro:

✓ Regional potential: El Zorro is an Intrusive Related Gold System (IRGS), structurally controlled by a number of regional outcropping & high-grade faults cross cutting the Company’s concessions

✓ Up coming news flow: Tesoro aims to expedite drilling following the Offer, the market can expect a minimum of one announcement per week of drill results on top of initial study works at El Zorro

✓ Commodity class: focused on the exploration & development of gold, a commodity which have seen significant investor appetite over recent times & this is expected to continue

✓ Exploration upside: significant exploration upside with El Zorro open in all directions. Funds raised from the Offer will contribute towards a 50,000m drill program to further increase the size of El Zorro, contribute towards a Maiden Resources & testing of regional targets

✓ Scoping Study: in 2021 the Company will commence Scoping Study activities including; metallurgical test work of which has already indicated free milling material with recoveries up to 99%

✓ Board and management: strong Board & management team with significant experience within the Metals & Mining sector, including both geology, capital markets and local Chilean knowledge

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