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Here's why the Tesoro Resources (ASX:TSO) share price is tumbling 31% today


The
Tesoro Resources Ltd(ASX: TSO) share price is tumbling today, down 31% in late morning trade having earlier posted losses of 35%.
Below we take a look at the ASX gold share’s resource update that looks to be driving some of the selling action.
What resource update did Tesoro report?
The Tesoro Resources share price is falling hard after the company announced its maiden Mineral Resource Estimate (MRE) for the Ternera Deposit at its El Zorro Gold Project in Chile.
It reported a maiden MRE of 25.1 million tonnes at 0.8 grams per tonne for 660,000 ounces of gold. It used 0.3 grams per tonne of gold as a cut-off. ....

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Tesoro Resources (ASX:TSO) receives further results from Ternera

Tesoro Resources (ASX:TSO) receives further results from Ternera
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Tesoro Resources (ASX:TSO) changes El Zorro agreement to fully contributing JV


Tesoro Resources (ASX:TSO) changes El Zorro agreement to fully contributing JV
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Tesoro Resources (TSO) has changed the terms and structure of its acquisition of the El Zorro Gold Project to now be a fully contributing joint venture (JV)
Through a purchase option agreement, Tesoro s 95-per-cent-owned Chilean subsidiary holds 70 per cent of the Chile-based project
However, this agreement has been terminated to remove timing risks on Tesoro s milestone targets due to the project s ongoing expansion
This means shareholders can contribute to the JV s capital requirements, and, if they don t, their ownership will be diluted ....

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Tesoro Resources (ASX:TSO) spends Dec. quarter at Chilean project


Tesoro Resources (ASX:TSO) spends Dec. quarter at Chilean project
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Tesoro Resources (TSO) spent the December quarter focused on its El Zorro Gold Project in Chile
During the quarter, 26 holes were drilled at the Ternera Deposit with aims of outlining gold resources at the project
In late December, a result of 5.09g/t gold was intersected and it confirms the continuity of mineralisation at Ternera over a 500-metre strike length
Gradient array induced polarisation (GAIP) surveying was undertaken and results indicate induced polarisation (IP) surveying is effective in targeting high-grade gold-bearing structures ....

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Tesoro Resources' El Zorro gold project grows with 'every new drill hole'


Tesoro Resources’ El Zorro gold project grows with ‘every new drill hole’
12SHARES
With four drill rigs working 24 hours a day in Chile, Tesoro Resources (ASX: TSO) keeps turning out assays that build a story of a substantial gold deposit at its El Zorro project.
The results add to the company’s expectations that said drilling has demonstrated the potential for the Ternera prospect within El Zorro to be continuously mineralised from surface to depth.
And the drilling is scheduled to continue well into the June quarter as the company works towards delineating a maiden resource.
The El Zorro project is located 140km by road from the city of Copiapo in northern Chile. ....

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