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The company, which has had multiple rigs drilling 24/7, has released "exceptional" assays that it says show the 660,000 ounces grading 0.8 gram per tonne resource was just the beginning.
The latest release of assays includes eight holes drilled into the western margin of the Ternera mineralisation, with 67m at 3.44gpt from 109m, including 13.5m at 15.8gpt from 117.5m and 8m at 1.22gpt from 168m.
Tesoro says the results show the potential to grow Ternera deposit to the west, including in a new mineralised north-south fault zone, discovered along the western edge of the resource.
Infill drilling also delivered 71m at 0.47gpt from 195m, including 12m at 1.39gpt.
The company has completed 207 diamond holes at Ternera and Tenera East since March 2020, with 49 cores still to be assayed.
Managing director Zeff Reeves said he remains confident Ternera will evolve into a large-scale open pit gold deposit given it remains open in all directions.
The resource used 148 holes, excluded any drilling at Ternera South or Ternera East, and showed a discovery cost was $21/oz.
The company had A$13.7 million cash at the end of June.
Shares in Tesoro slumped to below 10c when the resource was reported, but the stock was up 4% today to reach 12c, valuing the company at $66.6 million.
Tesoro has traded between 9.6-52.5c over the past year, with a $24 million equity raising late last year priced at 27c per share, including an oversubscribed $3 million share purchase plan..
