The Tesoro Gold Concession
Tesoro sits within the Nazca-Ocoña gold corridor, a proven gold belt south of Lima in Arequipa. The project is a high-grade mesothermal quartz-calcite vein system, with ore shoots persisting to depths of 100 to 300 metres. Target ore grades range from 5 to 25 g/t Au, with a historical maximum of 63 g/t achieved by Nativo on the Bonanza vein.
In May 2026, Nativo announced a maiden JORC (2012) Exploration Target of between 6,686 and 195,434 oz of contained gold, across four vein systems, with tonnages ranging from 79,051 to 316,200 tonnes. The Tesoro_1 vein system is high graded within this target.
The Greater Tesoro area was previously explored by St Elias between 2004 and 2014, extracting over 1,157 tonnes at an average grade of 32 g/t. Nativo's JORC Exploration Target correlates with and extends St Elias's historical data.
46 tonnes of vein material are stockpiled and ready for processing at La Patona. Ongoing surface mapping and sampling across additional zones is de-risking further mine sites within the concession.
*The Exploration Target is conceptual in nature and based on limited data; there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain whether further exploration will result in the estimation of a Mineral Resource. The Exploration Target should not be relied upon as an indication of economic viability.
Morrocota Gold Mine
Opportunity to accelerate production and cashflow for Nativo, bringing two neighbouring mines together under our umbrella, with all the operational and financial economies of scale. The operations and mining geology are symbiotic with what we are developing at Bonanza.
- Nativo acquired 100% for £116k in shares (vendors also subscribing for additional Nativo shares)
- 3km from Tesoro – shares central camp/facilities
- Mine in preparation stage – 24m shaft and total of 56m drilled to date
- Vein material recovered from preparation stage grading up to 23.4 g/t Au
- 7-9 t of vein material stockpiled at surface, transferred to Nativo
- Initiating new production and operating plan with contract mining company
- Addition of second mine diversifies and reduces risk
Tesoro Gold Concession, southern Peru