Tesoro Gold Limited announced a series of encouraging assay results from its extensional and infill drilling program at the El Zorro Gold Project in Chile. The results from the Ternera deposit confirm broad, high‐grade gold intercepts that extend both within and significantly beyond the current 1.3 million ounce Mineral Resource Estimate. Notable southern drill holes reported wide intercepts, including one intercept of 63.97 meters at 1.26 g/t gold from a depth of 323.40 meters—which featured a sub‐interval of 9.34 meters at 6.60 g/t gold—and another intercept of 51.32 meters at 1.13 g/t gold from 401.68 meters, incorporating 11.10 meters at 2.57 g/t gold. Additional results from another southern hole recorded 39.40 meters at 1.23 g/t gold from 427.00 meters with a higher-grade section of 10.87 meters at 2.65 g/t gold, and a further interval of 15.67 meters at 1.12 g/t gold with a short segment of 4.70 meters at 3.84 g/t gold. In the northern extension near the deposit’s shallow margins, intercepts such as 8.84 meters at 1.65 g/t gold, including a 1.4-meter interval at 5.67 g/t gold, underscore the ongoing potential to widen the known mineralised footprint. The announcement highlighted that the drilling campaign continues to map both the northern and southern extensions of the Ternera deposit with a strategic focus on stepping out the resource envelope. Tesoro Gold’s Managing Director, Zeff Reeves, underscored the importance of the southern extension as it rapidly evolves into a key growth area. With the new drilling intercepts occurring just 30 meters beyond the existing optimization pit shell—based on an US$1,800 per ounce gold price—the results are expected to make a substantial contribution to the upcoming Mineral Resource Estimate update. The program, bolstered by a restored full drilling capacity via two rigs operating 24/7, aims to merge these advanced intercepts with ongoing metallurgical test work and environmental permitting activities to support project timelines. From a market sentiment perspective, the news carries a bullish overtone. The extension of high-grade, continuous mineralisation zones and the near-term potential to increase the resource base bode well for project valuation and future resource estimates. The aggressive drilling schedule and rapid expansion of both northern and southern gold zones also support a positive outlook for the company’s development timeline. Conversely, some bearish considerations remain, as the project continues to face typical exploration and development risks including execution, permitting challenges, and uncertainties inherent in forward-looking exploration activities. The market will be watching how effectively the company integrates these new findings into an updated resource model and navigates the headwinds associated with project development in the mining sector.