Tesoro Gold Ltd · ASX:TSO
Tesoro Gold — Investor Presentation (May 2025)
20 slides from Tesoro Gold's investor presentation, May 7, 2025
Slide 1: El Zorro Gold Project
For personal use only EL ZORRO GOLD PROJECT AN EXCITING NEW GOLD DISTRICT AND THE FIRST IRGS DISCOVERED IN CHILE MAY 2025 ASX:TSO | OTCQB:TSORF | FSE:5D7 Tesoro Gold (ASX:TSO | OTCQB:TSORF) | CORPORATE PRESENTATION
Slide 2: Disclaimer
DISCLAIMER This presentation and any accompanying verbal presentation (together the Presentation) are confidential and have been prepared by other offering or marketing material relating to the securities referred to in this Presentation may be publicly distributed or otherwise Tesoro Gold Limited (
Slide 3: El Zorro - A New Gold Province
EL ZORRO - A NEW GOLD PROVINCE Au A LARGE PROSPECTIVE GOLD PROJECT IN CHILE Cu/Fe Au $ For personal use only Cu/Au LOCATION RESOURCE GROWTH LARGE SURFACE INCREASED AND UNLOCKING A GOLD FOOTPRINT EXPANDING DISTRICT SCALE ON 570KM2 OF 1.5MOZ TERNERA INTRUSIVE RELATED TENURE1 GOLD DEPOSIT2 GOLD SYSTEM
Slide 4: Corporate Overview
CORPORATE OVERVIEW CORPORATE STRUCTURE TESORO GOLD (ASX:TSO, OTCQB:TSORF, FSE:5D7) Capital structure Register detail Gold Fields strategic investment For personal use only Share price A$0.03 BOARD AND MANAGEMENT • Globally diverse South African gold producer 7.20% with nine operating mines in Austra
Slide 5: Chilean Gold Exploration and Development
CHILEAN GOLD EXPLORATION AND DEVELOPMENT PROXIMATE TO ESTABLISHED INFRASTRUCTURE AND EXISTING MINES LARGE PROSPECTIVE GOLD PROJECT Chanaral Au For personal use only IN CHILE Cu/Fe FIRST MOVER ADVANTAGE WITH El Zorro Cu Gold Project 570km2 OF TENURE Cu/Au LA COIPA • Coastal location surrounded by min
Slide 6: Unlocking a New Gold District
UNLOCKING A NEW GOLD DISTRICT IS TERNERA THE FIRST OF MANY? GOLD CORRIDOR TERNERA For personal use only 1.5MOZ UNCONSTRAINED DEPOSIT IS CHILE’S FIRST INTRUSION-RELATED GOLD SYSTEM (IRGS) • At El Zorro, surface gold has been confirmed over 50km of strike TERNERA • Mineralisation associated with intru
Slide 7: Ternera | 1.3Moz of Gold and Growing
TERNERA | 1.3Moz OF GOLD AND GROWING A MAJOR NEW GOLD DEPOSIT IN CHILE1 TERNERA For personal use only 1.5Moz UNCONSTRAINED DEPOSIT WITH OVER 110KM OF DRILLING • Mineralised begins at surface and continues to over 550m deep • Continuous, large and well-developed high-grade zones from surface • Widest
Slide 8: Ternera | 1.3Moz of Gold and Growing
TERNERA | 1.3Moz OF GOLD AND GROWING A MAJOR NEW GOLD DEPOSIT IN CHILE1 TERNERA For personal use only 1.5Moz UNCONSTRAINED DEPOSIT CHILE’S FIRST EVER INTRUSION-RELATED GOLD SYSTEM • Multiple mineralised drill intercepts outside the existing 2023 1.3Moz MRE constrained to a US$1,800/oz pit shell • De
Slide 9: Current MRE Is Just the Beginning
CURRENT MRE IS JUST THE BEGINNING EXISTING DRILLING SHOWS SIGNIFICANT GROWTH POTENTIAL EXPLORATION TARGET Drilled metres Resource (koz Au) For personal use only 120,000 Ternera constrained MRE 3,500 3,000 48.5Mt to 101.0Mt at 100,000 3,000 0.91g/t Au to 1.45g/t Au1 2,500 80,000 INDICATES TERNERA COU
Slide 10: Developing Ternera
DEVELOPING TERNERA BASE CASE SCOPING STUDY DEMONSTRATED PROJECT VIABILITY Base case parameter (± 35%) VERY LOW ALL-IN-SUSTAINING-COST For personal use only Ore throughput Mt 17.1 Gold grade g/t 1.25 US$1,068/oz Production ounces koz 651 INCLUDING US$8.6M SUSTAINING CAPITAL APRIL 2023 SCOPING STUDY P
Slide 11: Additional District Discoveries
ADDITIONAL DISTRICT DISCOVERIES WE BELIEVE TERNERA IS JUST THE FIRST OF MANY SIMILAR STYLE DEPOSITS District Scale Potential For personal use only • More than 570km2 of unexplored tenure • Major new IRGS gold belt, with very large Resource potential • Well defined “gold corridor” over 30km long • Mu
Slide 12: A Mineralised System Stretching Over 20km
A MINERALISED SYSTEM STRETCHING OVER 20km SURFACE SAMPLING DELINEATED A BROAD CONTINUOUS SYSTEM CALDERILLAS KITSUNE LA BREA For personal use only CHANNEL SAMPLING INDIVIDUAL INTRUSIVE SURFACE SAMPLING RESULTS RETURNED DYKES IDENTIFIED DELINEATED A NEW, HIGH-GRADE CONTINUOUS GOLD LARGE, HIGH-GRADE MI
Slide 13: Ongoing El Zorro Growth and Derisking
ONGOING EL ZORRO GROWTH AND DERISKING CY25 ADVANCEMENT PROGRAMS For personal use only 1 DRILL PROGRAM TO INFILL AND EXPAND TERNERA UNDERWAY AIMING TO DELIVER MRE UPDATE PLUS UPGRADE IN RESOURCE CLASSIFICATION 2 UPDATED PRODUCTION SCHEDULE AND SCOPING STUDY ANTICIPATE IMPROVED METRICS POST MRE UPDATE
Slide 14: Tesoro Gold Limited
For personal use only TESORO GOLD LIMITED Level 39 152-158 St Georges Terrace Perth, WA 6000 +61 8 6383 7883 info@tesorogold.com.au www.tesorogold.com.au ASX:TSO | OTCQB:TSORF | FSE:5D7 Tesoro Gold (ASX:TSO | OTCQB:TSORF) | CORPORATE PRESENTATION
Slide 15: Appendix A: Ternera Mineral Resource Estimate
APPENDIX A TERNERA MINERAL RESOURCE ESTIMATE (MRE) Constrained 1.28Moz Au MRE: US$1,800/oz optimised pit shell, underground reported at 1.5g/t Au cut off1 For personal use only Area Cut off Indicated Inferred Total Au g/t Mt Au g/t Koz Mt Au g/t Koz Mt Au g/t Koz Open Pit Resource 0.30 22.5 1.10 795
Slide 16: Appendix B: Project Configuration
APPENDIX B PROJECT CONFIGURATION Open pit operation with activities performed by a mining contractor COSTS BASED ON THE USE OF A 230-TONNE DIESEL HYDRAULIC For personal use only EXCAVATOR AND 120-TONNE TRUCK LEGEND: • Phase 1 open pit FLEET • Proposed plant • Powerline • Seawater pipeline MODELLING
Slide 17: Appendix C: Process Plant Flowsheet
APPENDIX C PROCESS PLANT FLOWSHEET Simple single stage crushing, gravity and CIP Mill throughput by resource category For personal use only 45% 94.5% gold recovered total recovery at 150 by gravity micron grind size Tesoro Gold (ASX:TSO | OTCQB:TSORF) | CORPORATE PRESENTATION INVESTOR PRESENTATION |
Slide 18: Appendix D: Highly Experienced Board
APPENDIX D: HIGHLY EXPERIENCED BOARD WITH A TRACK RECORD OF EXPLORATION AND DEVELOPMENT SUCCESS For personal use only Mark Connelly Zeffron Reeves Geoff McNamara Linton Putland Alan Gibson Non-Executive Chair Managing Director Non-Executive Director Executive Director Non-Executive Director • Previo
Slide 19: Appendix E: Deep Chilean Expertise
APPENDIX E: DEEP CHILEAN EXPERTISE DEDICATED IN COUNTRY TEAM OF LOCAL SPECIALISTS For personal use only Sergio Uribe Ruben Cahuana Francisco Varela Echaurren Country Manager Exploration Manager Legal Counsel Chile Chile Chile • Administrative, management and • Geologist and Geotechnical engineer • L
Slide 20: Appendix F: Mining Reigns Supreme in Chile
APPENDIX F MINING REIGNS SUPREME IN CHILE MINING IS A KEY CONTRIBUTOR TO THE CHILE For personal use only CHILEAN ECONOMY REPRESENTING OVER HALF OF THE COUNTRY’S TOTAL EXPORTS MAJORITY OF THE WORLD’S LARGEST, MOST SUCCESSFUL MINING COMPANIES OPERATE IN CHILE CHILE HAS THE LARGEST RESERVES OF COPPER A