Fredonia of Canada Intersects 24.7-Meter Mineralized Interval at EDM Gold-Silver Project in Argentina

en.Wedoany.com Reported - On November 2, Canadian mining company Fredonia Mining released the latest drilling results from its El Dorado–Monserrat (EDM) gold-silver project in Santa Cruz Province, Argentina. Among the results, drill hole HDDH062 at the Herradura Hill deposit intersected a 24.7-meter mineralized interval from a depth of 120.3 meters, grading 1.6 g/t gold equivalent, including a 3.5-meter high-grade interval grading 5.5 g/t gold equivalent. The hole is located at the western edge of the designed pit outline.

HDDH062 also intersected a 35-meter mineralized interval from a depth of 153.5 meters, grading 0.8 g/t gold equivalent, with 0.55 g/t gold and 16 g/t silver. The two main mineralized intervals are separated by 8.5 meters of low-grade rock, and the hole was completed to a depth of 245 meters. The first 24.7-meter interval graded 1.3 g/t gold and 15 g/t silver, with the high-grade sub-interval grading 5.1 g/t gold and 26 g/t silver.

Drill hole HDDH061, located more than 200 meters west of HDDH062, intersected a 10-meter mineralized interval from a depth of 51 meters, grading 0.75 g/t gold equivalent, including a 1.5-meter interval grading 3.3 g/t gold equivalent. The hole is located outside the current designed pit outline and was completed to a depth of 140 meters. The company confirmed a new gold-silver mineralized zone to the west, but continuity between this area and the known orebody still requires further drilling verification.

Drill hole HDDH063, located in the central-eastern part of the open pit, intersected a 5-meter mineralized interval from a depth of 97 meters, grading 1.46 g/t gold equivalent, including a 1.4-meter high-grade sub-interval grading 4.7 g/t gold equivalent; it also intersected a 7.7-meter mineralized interval from a depth of 107.4 meters, grading approximately 0.99 g/t gold equivalent. The hole was completed to a depth of 335 meters, and the results will be used to verify the mineralization distribution in the existing resource block model.

The gold equivalent grades were calculated using assumed prices of US$4,000 per ounce of gold and US$70 per ounce of silver, along with assumed recoveries of 85% for gold and 80% for silver. All disclosed mineralized interval lengths are measured along the drill hole and are not yet true thicknesses of the orebody. Drill core samples were sent to the Alex Stewart International laboratory in Mendoza, Argentina, for analysis, with gold assayed by fire assay and 39-element ICP analysis also conducted.

Fredonia plans to incorporate these drilling results into the EDM project resource block model and to continue deep extension drilling at the Herradura Hill and Main Veins deposits. The company is advancing a total of 10,000 meters of drilling, with the data to support a pre-feasibility study scheduled for completion in 2027. The newly reported drilling results have not yet been incorporated into the project's mineral resource estimate and preliminary economic assessment effective August 17, 2026.