- The Company is preparing an initial mineral resource estimate at the El Dorado Monserrat (“EDM”) project, targeted for release in Q3 of this year.
- The mineral resource estimate will be based on three drilling campaigns carried out over the past three years, representing a total of 10,982.7 meters of diamond drilling, plus historical drillings of the project.
The wholly-owned EDM gold and silver project comprises 5,793ha located in the prolific Deseado Massif in Patagonia,
The northern “Monserrat” sector comprises an area 3.5 km long by 3.2 km wide, made up of mineralized corridors hosted in andesitic lavas that form country rock, and contains more than 20 kilometers of epithermal veins, not all of which have been explored or drilled (Figure 2). This sector contains a series of mineralized target areas, including Main Veins, Bajo Pedernal,
The southern “Mineralized Corridor” sector comprises an area 6.0 km long by 1.0 km wide, and including the advanced Herradura Hill target area;
The Herradura Hill target area consists of a maar-volcano-diatreme surrounded by an extensive brecciated domes and dykes host system, the dimensions of which are yet undefined - being geologically open in all directions (Figure 3). The latest work has shown a new metallogenic interpretation at the Herradura Hill target area, defined as flow domes and an epithermal veins complex with disseminated Au-Ag mineralization with dimensions open in all directions. Drill holes confirm very broad stockworks, wide hydrothermal breccias and veins hosted in a phreatomagmatic breccias, felsic domes and dykes that intrude the andesite flows that form the country rock. Some significant drill intercepts include 8.00 m @ 6.00 g/t Au Eq., including 3.00 m @ 12.65 g/t Au Eq. (Figure 4) at the Herradura Hill target (see Fredonia news release, dated
See notes to Figures 2 and 3 below for information with respect to the assumptions used to calculate Au Eq.
All of these target areas remain open along strike and dip.
Following the release of its maiden mineral resource estimate, future drilling at the EDM project would contemplate three objectives: shallow drilling designed to expand mineralized zones; deep drilling to test high grade feeders; and additional drilling to test new target areas at the project.
Figure 1: Map showing the location of the two mineralized zones at the El Dorado Monserrat gold-silver project (5,793 ha licenses).
Figure 2: Map showing drill holes location and intercepts at the Northern Monserrat sector:
(*) Reported interval lengths are down-hole widths and not true widths.
(**) Gold equivalent (“Au Eq.”) is calculated using metal prices of
Au Eq assumes Au recovery of 90%. The limited metallurgical studies by Fredonia (selective Bottle rolls from Main Veins material) have indicated high (>90%) recovery of gold in oxide material. The
Figure 3. Cross section showing drill holes location and intercepts at the Herradura Hill target:
See Table of Intercepts in Fredonia NR dated January, 31st 2023.
(*) Reported interval lengths are down-hole widths and not true widths.
(**) Gold equivalent (“Au Eq.”) is calculated using metal prices of
Au Eq assumes Au recovery of 90%. The limited metallurgical studies by Fredonia (selective Bottle rolls from Main Veins material) have indicated high (>90%) recovery of gold in oxide material. The
Figure 4: HDDH047 from 269 to 277m contains 8.00m @ 6.00 g/t Au Eq. Including 3.00 m @ 12.65 g/t Au Eq.
See Table of Intercepts in Fredonia NR dated January, 31st 2023.
(*) Reported interval lengths are down-hole widths and not true widths.
(**) Gold equivalent (“Au Eq.”) is calculated using metal prices of
Au Eq assumes Au recovery of 90%. The limited metallurgical studies by Fredonia (selective Bottle rolls from Main Veins material) have indicated high (>90%) recovery of gold in oxide material. The
Mr.
Update to Management Team
The Company wishes
About Fredonia
Fredonia holds gold and silver license areas totaling approximately 18,000 ha. in the prolific Deseado Massif geological region in the Province of
For further information
Please visit the Company’s website at www.fredoniamanagement.com or contact:
Neither
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain “Forward-Looking Statements” within the meaning of applicable securities legislation relating to the Company and the EDM project, including statements regarding expectations with respect to preparing and releasing a maiden resource estimate in Q3 2024 and the merits of the results thereof, the prospectivity of the EDM project for gold and silver mineralization, including the potential for metal recoveries from any mineral processing activity, and the Company’s future exploration plans. Words such as “might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology are used to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by the Company considering its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors, including, without limitation, the factors described in the Company’s filing statement dated
Photos accompanying this announcement are available at:
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https://www.globenewswire.com/NewsRoom/AttachmentNg/f3556d46-1bbb-4137-8b7d-a83098aa59c7
https://www.globenewswire.com/NewsRoom/AttachmentNg/e1054195-e9d2-4dea-8418-c1e1bbe19b09
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Figure 1
Map showing the location of the two mineralized zones at the El Dorado Monserrat gold-silver project (5,793 ha licenses).
Figure 2
Map showing drill holes location and intercepts at the Northern Monserrat sector
Figure 3
Cross section showing drill holes location and intercepts at the Herradura Hill target
Figure 4
HDDH047 from 269 to 277m contains 8.00m @ 6.00 g/t Au Eq. Including 3.00 m @ 12.65 g/t Au Eq.
2024 GlobeNewswire, Inc., source