Tesoro Resources (ASX:TSO), previously jewellery seller Plukka Limited, is marking its return to the ASX with the start of a drilling program to explore for further gold resources at its El Zorro project in Chile.

The company re-listed on the stock exchange after completing its acquisition of then unlisted company Tesoro and raising $4.63m through a capital raising.

As a newly-minted ASX explorer, the company plans to focus on drilling at the El Zorro project and further early stage exploration to define drill targets at the Espino gold project in Chile.


Tesoro previously delineated a large gold system at El Zorro after its 16-hole program intersected multiple gold intercepts.

Top results included 20.3m grading 4.5 grams per tonne (g/t) gold within a broader intersection of 58.8m at 1.7g/t gold from surface and 30.3m at 3.03g/t gold within a 98.3m zone grading 1.58g/t gold from 176m.

Anything above 5g/t is generally considered high grade.

Results from the company’s initial 10-hole program are expected within six to eight weeks.

Meanwhile, Kin Mining (ASX:KIN) has intersected broad, near-surface zones of gold mineralisation at its Cardinia project near Leonora, Western Australia.

Notable intersections from the final assays returned from the December 2019 drilling campaign include 4m at 11.6g/t gold from 8m and 53m at 1.3g/t gold from 4m to the bottom of hole at the Lewis East prospect.

Along with the full house from its Comedy King gig, Kin has now confirmed its belief that the Cardinia area holds substantial zones of high-grade gold mineralisation within broader zones of alteration.

The company will now evaluate all drilling results, integrate it with historical drill data and plan follow-up drill programs.

These could target extensions of the high-grade vein-style mineralisation at Comedy King, strike and depth extensions at Cardinia Hill and infill drilling at Lewis East.


In other ASX gold news today:

Great Northern Minerals (ASX:GNM) has estimated a maiden resource of 47,000 ounces of contained gold within the Central Lode of its Big Rush mine in northern Queensland. This resource is within trucking distance of potential milling options and remains open at depth and along strike.