Announcement • May 11
Nativo Resources plc Announces Maiden JORC Exploration Target for Tesoro Gold Concession
Nativo Resources plc has announced a JORC (2012)-compliant Exploration Target for the Bonanza, Tesoro, Tesoro_1 and Morrocota vein systems within its wholly owned Tesoro concession in southern Peru. Contained gold of approximately 6,686 - 195,434 oz. Tonnages between 79,051 to 316,200 t. Superficial vein lengths of 6,200m within the concession. Vein Tesoro Project - Exploration Target Tonnage Ranges (t) Ore Grade Ranges (Au g/t) Contained Gold (Au oz) Bonanza Vein 12,750 - 51,000 0.15 - 0.72 61 - 1,181 Tesoro Vein 40,800 - 163,200 4.89 - 31.6 6,415 - 165,824 Tesoro_1 Vein 18,488 - 73,950 0.33 - 11.85 196 - 28,177 Morrocota Vein 7,013 - 28,050 0.06 - 0.28 14 - 253 Total 6,686 - 195,434. The ranges presented in the table were derived from the following sources of information and technical assumptions: recognised strike length mapped and documented through surface cartography (IGH Ingeniería, 2025); thickness ranges (m) identified within the Bonanza Vein from underground sampling completed in 2026; recorded vertical extent ranges (m) interpreted from underground sampling data (2026); chemical assay results (historical sampling surface campaign and IGH Ingeniería surface sampling programme, 2025); average density values determined through SGS laboratory (2,026) testing using the Displacement Method, which reflects bulk density inclusive of interstitial voids and inherent pore spaces within the in-situ material; and quartile values derived from surface sampling datasets. The Exploration Target has been defined based on data collected by Nativo, as well as calibration and integration with the historic database collected by St Elias and used in its NI43-101 report of 2010 and the following reasonable assumptions: 6,200 m of outcropping vein mapped across the Tesoro concessions (Bonanza at 1,000 m, Tesoro at 3,200 m, Tesoro_1 at 1,450 m, and Morrocota at 550 m). Downward projection of veins 100 m below surface. Veins in the region are observed to extend to around 300m (e.g. the analogous Santa Catalina mine exceeds 500 m, while geophysical data over the area suggests 300 m). Detailed underground mapping of the Bonanza vein shows that veins at Tesoro range between 0.1 m and 0.4 m. The Exploration Target considers vein ranges of 0.05m to 0.2m. A density of 2.55 g/cm³ was assumed for quartz vein material. Sample populations were used to determine grade ranges for each vein - where the 25th and 75th percentile is used for the lower and upper grade ranges. JORC defines an Exploration Target as "a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource." The Exploration Target reported is based on limited data, is conceptual in nature, and must not be relied upon as an indication of economic viability. It is uncertain if further exploration will result in the estimation of a Mineral Resource.
