Announcement PDF Sign up HERE to our Investor Hub ASX ANNOUNCEMENT 19 OCTOBER 2023 ASX:TSO OTCQB:TSORF NEW LARGE GOLD ANOMALY DEFINED AT DRONE HILL Tesoro Gold Limited (Tesoro or the Company) (ASX:TSO, OTCQB:TSORF) is pleased to report positive results from surface sampling west of the Ternera Gold Deposit (Ternera). HIGHLIGHTS • Surface sampling has delineated a new large outcropping gold anomaly which has never been drilled at Drone Hill, with wide outcropping intersections of up to 47m returned, including: • 47m @ 1.40g/t Au (EZTR004255) including; • 9m @ 4.66g/t Au • 15m @ 0.53g/t Au (EZTR004132) • 3m @ 1.88g/t Au (EZTR004110) • 2m @ 5.21g/t Au (EZTR4108) • 3m @ 2.11g/t Au (EZTR004282). • Surface mineralisation now confirmed to extend at least 750m west and 380m south of the Ternera Gold Deposit (refer ASX announcement 18 September 2023). • Assay results for initial eight (8) scout holes at Kitsune returned prospective lithology and alteration with a similar geological setting to Ternera. • Results validate the prospectivity of Kitsune as a regional target with additional drilling warranted to test high-priority zones. Tesoro Managing Director, Zeff Reeves, commented: “These results place the spotlight on Drone Hill as another high-priority prospective gold target for Tesoro. The geology of the area is analogous to the existing Ternera Gold Deposit and is located only 750m west of Ternera. We now have confirmation that surface gold mineralisation extends significantly south and west of our Deposit, with the continuous nature of the surface gold mineralisation highlighting the opportunity for large-scale resource growth. Planning is underway for additional drilling at Drone Hill and Kitsune, which is scheduled to commence in the coming months.” Level 48, 152-158 St Georges Terrace, Perth +61 8 6311 9160 info@tesorogold.com.au ASX ANNOUNCEMENT 19 OCTOBER 2023 Drone Hill Surface Sampling Results Detailed, systematic mapping and sampling work conducted at Drone Hill has identified a broad, continuous zone of outcropping gold mineralisation associated with a northwest trending fault system within sedimentary rocks. A number of El Zorro Tonalite (EZT) intrusive dykes outcrop to the west of the northwest trending fault system and the intersection of faults with the EZT presenting high-priority drill targets for the next stage of work at Drone Hill (refer Figure 2 below). Figure 1 – Geology map and surface sample locations at Drone Hill showing proximity to the Ternera Gold Deposit. Hole ZDDH0095 (ASX Announcement 23 March 2021) is approximately 350m southwest of this new undrilled anomaly. Section line A-A’ shows location of section at Figure 2. Datum PSAD56 19S. TESOROGOLD.COM.AU 2 ASX ANNOUNCEMENT 19 OCTOBER 2023 Figure 2 – Drone Hill schematic geology section looking northeast showing prospective gold zone associated with faulting and EZT intrusive units. Full results are presented in Appendix 1. Kitsune Drill Results Results received for the initial eight (8) scout drill holes from the Kitsune Targets show narrow low grade gold intercepts, confirming the prospectivity of the area to host additional gold mineralisation within a similar geological setting to the Ternera Gold Deposit. All initial holes intersected the target EZT lithology adjacent to the Dorado fault, which are the main gold host at the Ternera Gold Deposit. Due to rugged access and operational issues with the drilling contractor, the highest priority holes at Kitsune are yet to be drilled. Kitsune warrants additional drilling to fully test the extensive surface gold anomaly defined by mapping and sampling. Full results presented in Appendix 2. Authorised by the Board of Tesoro Gold Ltd. For more information: Company: Zeff Reeves, Managing Director Tesoro Gold Limited info@tesorogold.com.au For full details of the Ternera Deposit Mineral Resource Estimate (802 koz Indicated, 479 koz Inferred), refer to ASX Announcement dated 9 March 2023. The Company confirms that it is not aware of any new information or data that materially affects the information in that release and that the material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed. TESOROGOLD.COM.AU 3 ASX ANNOUNCEMENT 19 OCTOBER 2023 About Tesoro Future Performance Tesoro Gold Limited was established with a strategy of acquiring, exploring, and developing mining projects in the Coastal Cordillera region of Chile. The Coastal Cordillera region is host to multiple world-class copper and gold mines, has well established infrastructure, service providers and an experienced mining workforce. Large areas of the Coastal Cordillera remain unexplored due to the unconsolidated nature of mining concession ownership, but Tesoro, via its incountry network and experience has been able secure rights to a district-scale gold project in-line with the Company’s strategy. Tesoro’s 95% owned Chilean subsidiary owns 93.8% of the El Zorro Gold Project. This announcement may contain certain forwardlooking statements and opinions. Forward-looking statements, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties, assumptions, contingencies and other important factors, many of which are outside the control of the Company and which are subject to change without notice and could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forwardlooking statements or other forecast. Nothing contained in this announcement, nor any information made available to you is, or and shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of Tesoro Gold. Competent Persons Statements The information in this report that relates to Exploration Results is based on information compiled by Mr Zeffron Reeves (B App Sc (Hons) Applied Geology) MBA, MAIG). Mr Reeves is a member of the Australian Institute of Geoscientists and a Director and shareholder of the Company. Mr Reeves has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Reeves consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. The information in this report that relates to Mineral Resources is based on information compiled by Mr Lynn Widenbar, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Widenbar is acting as an independent consultant to Tesoro Gold Limited. Mr Widenbar has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcement on 9 March 2023. TESOROGOLD.COM.AU 4 ASX ANNOUNCEMENT 19 OCTOBER 2023 APPENDIX 1: DRONE HILL SURFACE SAMPLING RESULTS TARGET TRENCH_ID Sample_ID UTM_E UTM_N dip Azimuth FROM_ TO width__m_ Au_ppm TARGET DRONEHILL EZTR004106 TRC193476 341204 7037203 -10 345 0.00 3.00 3.00 0.03 DRONEHILL EZTR004255 TRC193998 341235 7036913 40 50 3.00 6.00 3.00 0.02 DRONEHILL EZTR004107 TRC193477 341203 7037198 -10 350 0.00 2.00 2.00 0.24 DRONEHILL EZTR004255 TRC193999 341237 7036915 60 50 6.00 9.00 3.00 0.05 DRONEHILL EZTR004108 TRC193367 341213 7037169 0 30 0.00 1.00 1.00 6.1 DRONEHILL EZTR004255 TRC194000 341239 7036916 45 40 9.00 12.00 3.00 0.04 DRONEHILL EZTR004108 TRC193368 341215 7037167 0 40 1.00 2.00 1.00 4.32 DRONEHILL EZTR004255 TRC192101 341240 7036918 40 40 12.00 15.00 3.00 0.08 DRONEHILL EZTR004110 TRC193370 341225 7037160 0 40 0.00 1.00 1.00 2.99 DRONEHILL EZTR004255 TRC192102 341242 7036920 30 60 15.00 18.00 3.00 2.22 DRONEHILL EZTR004110 TRC193372 341226 7037159 0 70 1.00 2.00 1.00 0.41 DRONEHILL EZTR004255 TRC192103 341244 7036922 30 45 18.00 21.00 3.00 8.74 DRONEHILL EZTR004110 TRC193373 341226 7037158 0 75 2.00 3.00 1.00 2.25 DRONEHILL EZTR004255 TRC192104 341248 7036925 65 40 21.00 24.00 3.00 3.03 DRONEHILL EZTR004114 TRC193374 341225 7037158 0 70 0.00 1.00 1.00 0.13 DRONEHILL EZTR004255 TRC192106 341250 7036927 40 35 24.00 27.00 3.00 0.17 DRONEHILL EZTR004115 TRC193375 341233 7037150 0 80 0.00 1.00 1.00 3.65 DRONEHILL EZTR004255 TRC192107 341251 7036929 30 35 27.00 30.00 3.00 0.06 DRONEHILL EZTR004116 TRC193376 341241 7037134 -5 240 0.00 1.00 1.00 9.38 DRONEHILL EZTR004255 TRC192108 341253 7036931 30 40 30.00 33.00 3.00 0.08 DRONEHILL EZTR004117 TRC193378 341315 7037134 0 240 0.00 1.00 1.00 0.64 DRONEHILL EZTR004255 TRC192109 341254 7036932 40 35 33.00 36.00 3.00 0.42 DRONEHILL EZTR004118 TRC193379 341285 7037071 0 70 0.00 2.00 2.00 0.5 DRONEHILL EZTR004255 TRC192110 341256 7036934 40 45 36.00 39.00 3.00 1.49 DRONEHILL EZTR004119 TRC193380 341266 7036951 0 210 0.00 2.00 2.00 0.72 DRONEHILL EZTR004255 TRC192111 341258 7036937 45 50 39.00 42.00 3.00 0.11 DRONEHILL EZTR004120 TRC193381 341259 7036866 -10 121 0.00 2.00 2.00 0.42 DRONEHILL EZTR004255 TRC192112 341259 7036939 40 40 42.00 45.00 3.00 0.04 DRONEHILL EZTR004121 TRC193382 341256 7036869 -10 140 0.00 2.00 2.00 0.02 DRONEHILL EZTR004255 TRC192114 341261 7036941 45 35 45.00 48.00 3.00 0.04 DRONEHILL EZTR004122 TRC193383 341247 7036865 0 270 0.00 2.00 2.00 0.17 DRONEHILL EZTR004255 TRC192115 341263 7036943 35 35 48.00 51.00 3.00 0.66 DRONEHILL EZTR004123 TRC193384 341240 7036865 0 285 0.00 2.00 2.00 0.17 DRONEHILL EZTR004255 TRC192116 341264 7036945 40 35 51.00 54.00 3.00 0.8 DRONEHILL EZTR004124 TRC193386 341227 7036877 0 300 0.00 1.00 1.00 0.06 DRONEHILL EZTR004255 TRC192117 341266 7036947 40 30 54.00 57.00 2.00 3.98 DRONEHILL EZTR004125 TRC193387 341221 7036872 -5 300 0.00 1.00 1.00 0.09 DRONEHILL EZTR004255 TRC192118 341268 7036949 20 30 57.00 60.00 3.00 0.7 DRONEHILL EZTR004126 TRC193388 341205 7036873 -10 290 0.00 1.00 1.00 0.07 DRONEHILL EZTR004255 TRC192119 341270 7036952 10 30 60.00 63.00 3.00 0.66 DRONEHILL EZTR004130 TRC193392 341259 7036911 -10 205 0.00 2.00 2.00 0.07 DRONEHILL EZTR004257 TRC192120 341273 7036957 40 30 0.00 3.00 3.00 0.02 DRONEHILL EZTR004131 TRC193394 341244 7036910 0 20 0.00 1.00 1.00 1.28 DRONEHILL EZTR004257 TRC192122 341274 7036959 40 30 3.00 6.00 3.00 0.56 DRONEHILL EZTR004132 TRC193395 341232 7036913 -10 270 0.00 1.00 1.00 0.69 DRONEHILL EZTR004257 TRC192123 341275 7036962 40 30 6.00 9.00 3.00 0.08 DRONEHILL EZTR004132 TRC193396 341230 7036914 -10 270 1.00 2.00 1.00 2.25 DRONEHILL EZTR004258 TRC192124 341258 7036947 30 10 0.00 3.00 3.00 1.39 DRONEHILL EZTR004132 TRC193397 341228 7036914 -10 280 2.00 3.00 1.00 0.1 DRONEHILL EZTR004264 TRC192143 341202 7037242 0 210 0.00 3.00 3.00 0.005 DRONEHILL EZTR004132 TRC193398 341225 7036914 -10 280 3.00 4.00 1.00 0.6 DRONEHILL EZTR004265 TRC192144 341189 7037213 0 240 0.00 1.00 1.00 0.31 DRONEHILL EZTR004132 TRC193399 341221 7036915 -10 285 4.00 6.00 2.00 0.67 DRONEHILL EZTR004266 TRC192146 341193 7037215 0 220 0.00 1.00 1.00 0.08 DRONEHILL EZTR004132 TRC193400 341217 7036915 -30 285 6.00 7.00 1.00 0.16 DRONEHILL EZTR004267 TRC192147 341191 7037218 0 220 0.00 1.00 1.00 1.07 DRONEHILL EZTR004132 TRC193701 341214 7036915 -20 280 7.00 9.00 2.00 0.35 DRONEHILL EZTR004268 TRC192148 341140 7036903 0 230 0.00 1.00 1.00 0.24 DRONEHILL EZTR004132 TRC193702 341213 7036915 -20 280 9.00 11.00 2.00 0.13 DRONE HILL EZTR004273 TRC192154 341152 7037246 0 290 0.00 2.00 2.00 0.03 DRONEHILL EZTR004132 TRC193703 341211 7036915 -20 285 11.00 13.00 2.00 0.23 DRONE HILL EZTR004274 TRC192155 341132 7037240 0 255 0.00 1.00 1.00 0.01 DRONEHILL EZTR004132 TRC193704 341208 7036915 -10 280 13.00 15.00 2.00 0.67 DRONE HILL EZTR004275 TRC192156 341128 7037225 0 130 0.00 2.00 2.00 0.01 DRONEHILL EZTR004132 TRC193706 341108 7037093 0 170 15.00 17.00 2.00 0.1 DRONE HILL EZTR004276 TRC192157 341132 7037199 0 160 0.00 2.00 2.00 0.04 DRONEHILL EZTR004132 TRC192037 341271 7037245 0 195 17.00 19.00 2.00 0.005 DRONEHILL EZTR004277 TRC192158 341128 7037185 0 45 0.00 3.00 3.00 0.005 DRONEHILL EZTR004132 TRC192038 341229 7037222 0 230 19.00 22.00 3.00 0.005 DRONEHILL EZTR004278 TRC192159 341136 7037143 0 200 0.00 3.00 3.00 0.01 DRONEHILL EZTR004132 TRC192039 341200 7037158 -5 220 22.00 25.00 3.00 0.01 DRONEHILL EZTR004279 TRC192160 341125 7037135 -5 230 0.00 3.00 3.00 0.08 DRONEHILL EZTR004132 TRC192040 341180 7037143 0 220 25.00 28.00 3.00 0.01 DRONEHILL EZTR004280 TRC192162 341112 7037115 -5 220 0.00 3.00 3.00 0.03 DRONEHILL EZTR004242 TRC192042 341178 7037130 -40 240 0.00 3.00 3.00 0.01 DRONEHILL EZTR004281 TRC192163 341100 7037106 0 190 0.00 3.00 3.00 0.23 DRONEHILL EZTR004243 TRC192043 341168 7037117 0 210 0.00 2.00 2.00 0.005 DRONEHILL EZTR004282 TRC192125 341190 7037141 40 50 0.00 3.00 3.00 2.11 DRONEHILL EZTR004244 TRC192044 341160 7037089 0 170 0.00 3.00 3.00 0.005 DRONEHILL EZTR004283 TRC192126 341215 7037174 40 30 0.00 3.00 3.00 0.2 DRONEHILL EZTR004245 TRC192045 341140 7037074 -20 190 0.00 3.00 3.00 0.02 DRONEHILL EZTR004283 TRC192127 341217 7037176 45 35 3.00 6.00 3.00 0.04 DRONEHILL EZTR004246 TRC192046 341121 7037043 0 180 0.00 2.00 2.00 1.54 DRONEHILL EZTR004283 TRC192128 341218 7037178 45 25 6.00 9.00 3.00 0.01 DRONEHILL EZTR004247 TRC192047 341108 7037018 0 130 0.00 1.00 1.00 0.02 DRONEHILL EZTR004283 TRC192130 341220 7037180 40 20 9.00 12.00 3.00 0.08 DRONEHILL EZTR004248 TRC192048 341198 7037174 0 140 0.00 3.00 3.00 0.005 DRONEHILL EZTR004284 TRC192131 341223 7037182 45 40 0.00 2.00 2.00 0.05 DRONEHILL EZTR004249 TRC192050 341181 7037158 0 150 0.00 3.00 3.00 0.01 DRONEHILL EZTR004285 TRC192132 341226 7037186 45 60 0.00 2.00 2.00 0.03 DRONEHILL EZTR004250 TRC192051 341155 7037142 0 195 0.00 3.00 3.00 0.01 DRONEHILL EZTR004285 TRC192133 341228 7037188 45 50 2.00 5.00 3.00 0.005 DRONEHILL EZTR004251 TRC192052 341142 7037116 0 225 0.00 3.00 3.00 0.01 DRONEHILL EZTR004286 TRC192134 341230 7037180 40 50 0.00 3.00 3.00 0.005 DRONEHILL EZTR004252 TRC192053 341115 7037098 0 150 0.00 3.00 3.00 0.005 DRONEHILL EZTR004287 TRC192135 341238 7037186 30 45 0.00 3.00 3.00 0.01 DRONEHILL EZTR004253 TRC192054 341105 7037089 0 120 0.00 3.00 3.00 0.05 DRONEHILL EZTR004288 TRC192136 341237 7037178 30 35 0.00 3.00 3.00 0.005 DRONEHILL EZTR004255 TRC193997 341234 7036912 40 50 0.00 3.00 3.00 0.32 TRENCH_ID Sample_ID UTM_E UTM_N dip Azimuth FROM_ TO width__m_ Au_ppm APPENDIX 2: KITSUNE DRILLING DETAILS Kitsune drillhole locations Hole Location Elevatio Northing Easting n Hole Orientation ZDDH00328 341359 7038855 690 -60 240 233.50 ZDDH00329 341724 7038695 699 -60 240 200.00 ZDDH00330 341788 7038750 745 -60 240 200.00 ZDDH00331 341828 7038480 830 -60 240 146.60 ZDDH00332 341426 7038921 642 -60 240 100.00 ZDDH00333 340938 7039755 791 -60 240 130.00 ZDDH00334 341249 7039400 684 -60 240 51.50 ZDDH00335 340938 7039755 791 -60 0 140.10 Hole ID TESOROGOLD.COM.AU Dip Azimuth Drill Depth (m) TARGET Kitsune Kitsune Kitsune Kitsune Kitsune Kitsune Kitsune (Abandoned) Kitsune 5 ASX ANNOUNCEMENT 19 OCTOBER 2023 Kitsune drillhole results Hole_ID From (m) To (m) Interval Au (g/t) Comments ZDDH0328 86.00 87.00 1.00 0.91 ZDDH0328 192.23 196.00 3.77 0.51 ZDDH0328 194.69 196.00 1.31 1.25 including ZDDH0329 0.00 NSI ZDDH0330 34.00 35.00 1.00 0.40 ZDDH0330 100.00 102.00 2.00 0.52 ZDDH0331 0.00 NSI ZDDH0332 19.00 21.00 2.00 0.73 ZDDH0333 0.00 NSI ZDDH0334 0.00 Abandoned ZDDH0335 0.00 NSI TESOROGOLD.COM.AU 6 ASX ANNOUNCEMENT 19 OCTOBER 2023 APPENDIX 3: JORC TABLES JORC CODE, 2012 EDITION | TABLE 1: MINERAL RESOURCE ESTIMATE AND EXPLORATION TARGET Section 1: Sampling Techniques and Data Criteria JORC Code explanation Commentary Sampling techniques • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as downhole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Tesoro has completed 342 diamond drill holes for 110,980m in 2017, 2018, 2020, 2021, 2022 and 2023 (ZDDH0001 to ZDDH00335). Diamond drill holes were drilled with HQ. Sampling was half core at geologically defined and significant mineralisation boundaries. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Tesoro Diamond drill holes were drilled with HQ. Sampling was half core at geological and significant mineralisation boundaries. The CP consider this appropriate for the style of mineralisation. The CP considers the sampling methodologies to be appropriate for this style of mineralisation. Tesoro completed channel sampling. Sampling processes are considered appropriate for the style of mineralisation Tesoro completed channel sampling, Sampling processes are considered appropriate for the style of mineralisation. Channel sampling sites were painted across the sample site by Tesoro geologists to the width of the sample. Surficial material was removed from the sample and fresh rock was sampled where possible. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done, this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. Diamond drilling was used to obtain ½ core samples of various lengths (minimum 0.25m), from which 1kg of material was pulverised passing 200 mesh to produce a 50g charge for fire assay fusion with a gravimetric finish. Multielement assays were completed by 4-acid digest with a 2.5g charge. The CP consider these appropriate assay techniques. Drilling techniques • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, facesampling bit or other type, whether core is oriented and if so, by what method, etc.). Tesoro has completed 342 diamond drill holes for 110,980m in the MRE area. Diamond drill holes were drilled with HQ. Sampling was half core at geological and significant mineralisation boundaries. Standard tube was used. Drill sample recovery • Method of recording and assessing core and chip sample recoveries and results assessed. Core recovery was estimated using the drillers recorded depth marks against the length of the core recovered. Reviewing the core photos, there are occasional shears/faults where core is broken. There is however no significant core loss. TESOROGOLD.COM.AU Tesoro has completed a channel sampling program. Sampling was by industry standard technique including: • location of the station using handheld GPS. • Outcrop is brushed with a hand held brush to clean off surficial debris prior to sampling. • A continuous rock chip sample is hammered off the outcrop along the painted sample line. • Samples of up to 2kg of rock are packed in plastic bags with assay-number tickets stapled to the bag. 7 ASX ANNOUNCEMENT 19 OCTOBER 2023 Criteria JORC Code explanation Commentary • Measures taken to maximise sample recovery and ensure representative nature of the samples. A single tube system was employed and in general core recovery good. • Whether a relationship exists between There appears to be no potential sample bias as there sample recovery and grade and was no regular loss of core. whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. Logging Subsampling techniques and sample preparation Quality of assay data and laboratory tests • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Geological core logging to a resolution of 25 cm was undertaken with a record kept of, inter alia, colour, lithology, weathering, grain size, mineralisation, alteration, geotechnical characteristics etc. Diamond core is stored at the Company’s warehouse. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. Logging of diamond core was qualitative and diamond core was photographed. • The total length and percentage of the relevant intersections logged. All drilled intervals are logged and recorded. • If core, whether cut or sawn and whether quarter, half or all core taken. Drill core was cut, and half core was collected for analysis • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. Tesoro has not completed any percussion drilling. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. Collection of half core ensured the nature, quality and appropriateness of the collected sample. • Quality control procedures adopted for all subsampling stages to maximise representivity of samples. Half core was collected for the entirety of the Tesoro drilling, as such there was consistency throughout the drilling. Core was logged by a qualified geoscientist. Each subsample is considered to be representative of the interval. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Sampling of half core is representative of the in-situ material. There are field duplicate samples collected from the diamond core with irregular results. Field drill core duplicates are irregular by nature and it has been recommended by Tesoro’s consultants to use coarse reject material to monitor the sample preparation. • Whether sample sizes are appropriate to the grain size of the material being sampled. Sample sizes collected were considered appropriate to reasonably represent the material being tested. • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. Assays reported in this report were undertaken at the accredited laboratory of ALS Santiago, which is fully certified. Core samples of various lengths were assayed (minimum 0.25m) from which 1kg of material was pulverized passing 200 mesh to produce a 50 g charge for fire assay fusion with gravimetric finish. Multielement assays were completed by 4-acid digest with a 2.5 g charge. Tesoro consider the data to be of an appropriate level of detail to support a future resource estimation. The sample preparation of crushing half core at the lab to mm size prior to splitting off a 50g charge (either by cone/quarter or riffle) for pulverisation provides an appropriate and representative sample for analysis. All techniques are appropriate for the element being determined. • For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Standard chemical analyses were used for grade determination. There was no reliance on determination of analysis by geophysical tools. • Nature of quality control procedures adopted (e.g. standards, blanks, QAQC procedures included the insertion of Certified Reference Materials (CRMs) (5%) and blank material (2%), Check samples (5%) and check assaying (5%) TESOROGOLD.COM.AU 8 ASX ANNOUNCEMENT 19 OCTOBER 2023 Criteria JORC Code explanation Commentary duplicates, external laboratory checks) Cube Consulting Pty Ltd manage the database for and whether acceptable levels of Tesoro. accuracy (i.e. lack of bias) and precision have been established. The laboratories used have generally demonstrated analytical accuracy at an acceptable level within 95% confidence limits. Verification of sampling and assaying • The verification of significant intersections A number of independent consulting geoscientists by either independent or alternative (Cube Consulting, Oliver, and Cooley) external to company personnel. Tesoro have verified the intersections for holes ZDDH0001 to ZDDH0080. Holes ZDDH0081 onwards have been verified by multiple appropriately qualified Company personnel. • The use of twinned holes. No twinned holes have been completed Tesoro drilling is digitally entered and stored following • Documentation of primary data, data entry procedures, data verification, data documented core handling protocols. The protocols are considered adequate. storage (physical and electronic) protocols. No adjustments were made to Tesoro Drilling • Discuss any adjustment to assay data. Location of data • Accuracy and quality of surveys used to points locate drillholes (collar and downhole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Data spacing and distribution Orientation of data in relation to geological structure Sample security Tesoro drill hole collars have been surveyed accurately using differential GPS for all holes. Channel Sample locations have been located using a handheld GPS • Specification of the grid system used. The grid system used PSAD56 19S • Quality and adequacy of topographic control. The topography generated from an accurate topographic survey data completed by a registered surveyor and has been used for the current control. Drill hole spacing is variable between 25m and 200m • Data spacing for reporting of Exploration Results. The channel sampling is collected on a nominal 1m long channel, up to a maximum of 3m. this spacing is deemed acceptable for the style of mineralisation. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Areas with up to 50m drill spacing are considered to be suitable for Mineral Resource Estimation. Areas of sparser drilling and at the fringes and depth extents of the deposit have been excluded from the MRE. • Whether sample compositing has been applied. Sample compositing was not employed at the sampling stage. • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. Drill holes were drilled across the interpreted strike of the mineralisation. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. Tesoro diamond drilling at various orientations does not reveal any bias regarding the orientation of the mineralised horizons. • The measures taken to ensure sample security. Chain of Custody of digital data is managed by the Company. Physical material was stored on site and, when necessary, delivered to the assay laboratory. Thereafter laboratory samples were controlled by the nominated laboratory which to date has been Bureau Veritas and ALS Santiago. All sample collection was controlled by digital sample control file(s) and hardcopy ticket books. Audits or reviews • The results of any audits or reviews of sampling techniques and data. TESOROGOLD.COM.AU Where drill spacing is beyond 50m mineralisation has been interpreted to continue and have been used in the estimation of the Exploration Target. Drill spacing up to 200m has been used in the Exploration Target Estimation Channel samples are generally, where p[possible, sampled perpendicular to interpreted geological structures. No audits have been undertaken. 9 ASX ANNOUNCEMENT 19 OCTOBER 2023 Section 2: Reporting of Exploration Results Criteria JORC Code explanation Commentary Mineral tenement and land tenure status • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. Information regarding tenure is included in the company’s June 2023 quarterly report released to the ASX on 36 July 2023. • The security