Tesoro is located in the prolific Nazca-Ocona gold corridor, a proven gold belt 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 300 ha Tesoro Concession was previously explored and mined by St Elias (2004-2014), who carried out full suites of geological mapping, trenching, geophysical surveys, drilling, sampling and underground work.
Bonanza Gold Mine
Nativo's current field work and plans aim to restart mining at the Bonanza Gold Mine in December 2025.
Highlights:
- Nativo has successfully mined Bonanza in 2024, achieving up to 63 g/t Au
- Internal estimates attribute 51,000 Oz Au to Bonanza and neighbouring Morrocota Mines alone
- Nativo is carrying out detailed studies to resume mining and identify new areas to mine
- Early results have identified the extensions of gold bearing veins through the Morrocota area and to the south of Bonanza
- Five areas have been highlighted as vein shoots with potential to initiate ASM mining
Gold Ore Processing Plant
- Gold ore processing is a lucrative support business to the ASM sector in Peru and capture more value
- There are many private and listed companies (incl. Dynacor, Mollehuaca, Inca One, Vista Gold) servicing the sector
- Boku has secured the permits for the establishment and operation of its own gold ore processing plant, just 30 kilometers from Tesoro
- Boku believes that in addition to its own ore production, it will be able to source significant volumes of certified gold ore to operate the plant at 350 tpd
- Progression to processing own ore and third-party ore (e.g. Dynacor), allows Boku to capture significant margin of between 25% - 35% vs using tolling plant
- With land and permits in place, development can be up and running within 12 months
Tesoro Gold Concession, southern Peru