Australia's Tesoro Resources rises on higher minerals estimate at Chile project
23/05/2022 03:29
** Shares of Tesoro Resources TSO.AX rise as much as 16%
to A$0.087, their highest since April 19
** The gold miner says it has increased its mineral resource
estimate for the Ternera gold deposit, located within its El
Zorro gold project, in Chile by 66% urn:newsml:reuters.com:*:nASX7l858c
** Stock posts its biggest intraday percentage gain since
March 30
** Co says multiple, continuous, higher-grade gold zones
have been defined, resulting in a mineral resource of 715
thousand ounces at 2.31 g/t gold
** Says increased mineral resource estimate is contained
within a $2549 per ounce gold price optimised pit shell
** Says gold mineralisation remains open in all directions,
with further drilling being planned to continue resource
expansion in the area
** Stock down 1.3% YTD, as of last close
(Reporting by Riya Sharma in Bengaluru)
((Riya.Sharma@thomsonreuters.com;))