Tesoro is located in the prolific Nazca-Ocona gold corridor, south of Lima in Arequipa, and is characterised by quartz-gold veins hosted in intrusive rocks with grades of 5-15 g/t Au with bonanza zones of >30 g/t Au, and lengths >1km, depths between 0.6 - 1km, and widths between 10-80 cm.
The image on the right was taken on a site visit to the Tesoro gold concession in May 2024.
Highlights:
- Boku intends to establish formalised artisanal and small mining operations on its 100% held Tesoro Gold concession, southern Peru. Peru is one of the world's largest producers of gold and silver and the ASM sector accounts for 20% of the country's gold production.
- Early cash flow generation - Phase I development targeting mining revenues by Q4 2024 from an initial 147 oz/month of gold production (estimated) through an existing plant, operated by a third party.
- Tesoro has quartz-gold veins hosted in intrusive rocks with grades of 5-15 g/t Au with certain other zones of >30 g/t Au.
- Internal estimates suggest approximately 150,000 t with an average grade of 15 g/t Au for 73,000 oz Au.
Preliminary results of metallurgical testing of gold samples in July 2024 from mining shafts at the Tesoro illustrated:
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Two composite samples taken from two main shafts corresponding to the "Bonanza" and "La Dorada" vein systems at a depth of approximately 10m returned high gold grade values of 21.36 g/t and 13.13 g/t
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Samples were analysed to determine gold dissolution susceptibility through standard bottle roll cyanidation tests
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Following a retention time of 48 hours, a maximum dissolution of over 90% was evidenced, with recovery rates of 90.53% and 92.93% for the respective samples
Tesoro Gold Concession, southern Peru