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Tesoro Gold's Growth Strategy: Drilling for Multi-Million Ounce Gold in Chile

Oct 9, 2025
In this engaging discussion, Geoff McNamara, Executive Director of Tesoro Gold, dives into the ambitious El Zorro Gold project in Chile, where they aim to expand their 2-million-ounce resource to over 3 million ounces. He elaborates on their recent $34 million raise to fund drilling and a pre-feasibility study by mid-2026. Highlighting the project's strong financial metrics—NPV over $650 million and an attractive IRR—Geoff also discusses the favorable mining environment in Chile and plans to meet permitting targets while addressing community engagement.
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ANECDOTE

From Field Geologist To Company Founder

  • Geoff described his career from geology and operations to mining finance and company founding.
  • He co-founded Tesoro and seeded it with personal capital before listing on the ASX in 2020.
INSIGHT

Unique Intrusive Gold District In Chile

  • Tesoro Gold discovered the first intrusive-related gold system in Chile, creating a unique district-scale opportunity.
  • The El Zorro resource is 2Moz and sits at low altitude near infrastructure, aiding development economics.
ADVICE

Deploy Capital Across Three Parallel Tracks

  • Use the $34M to advance studies, expand drilling and secure permits and infrastructure concurrently.
  • Double rig count to at least four and run 24/7 to accelerate discovery and resource growth.
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