Tesoro Gold Reports Maiden Ore Reserve of 1.28 Million Ounces at Ternera Gold Deposit in Chile, Shares Up 3%

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Tesoro Gold (ASX:TSO) reported a maiden ore reserve of 42.8 million tonnes at 0.93 grams per tonne gold for 1.28 million ounces of contained gold at the Ternera gold deposit, part of its El Zorro gold project in Chile, entirely within a single open pit, according to a Friday Australian bourse filing.

The company said the ore reserve represents about 87% of the 1.47 million ounces of measured and indicated resources, supporting a project production life of more than 13 years at an average grade of 1.16 grams per tonne gold for the first 10 years of production.

The company's shares rose 3% in recent Friday trade.

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