Source: Fredonia Mining Inc.
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  • Fredonia Mining (FRED) completes drilling program at ‘El Dorado Monserrat’
  • The company believes that all sampling will be completed by month’s end
  • Drill holes have intercepted hydrothermal breccias, veins and stockworks hosted in phreatomagmatic breccias and felsic domes
  • Further assay results from the remaining six holes will be reported as they become available
  • Based on drill intersections to date, the mineralized system is interpreted to remain open in all directions, and Fredonia believes more drilling is warranted
  • Fredonia Mining (FRED) is sitting at C$0.12 at 11:15 am EST

Fredonia Mining (FRED) has completed the drilling program at its El Dorado Monserrat property in Santa Cruz, Argentina.

“We are extremely pleased and encouraged with the continuity of the results from the initial assays of this third stage of our drilling program and the significant percentage and tenor of intersections of merit in our drill holes,” commented Estanislao Auriemma, Fredonia’s CEO.

“The results support the confidence to initiate further drilling to begin in October and include other prospective areas within EDM. The objective remains to confirm and increase the potential overall of the El Dorado Monserrat Property,” added Auriemma.

The company believes that all sampling will be completed by month’s end.

The camp will be on ‘care and maintenance’ until the Austral spring. It is looking to the future, anticipating that drilling will recommence in October.

Work is already underway for this 2,500 m follow-up drilling phase at LH, which will also include further exploration drilling on other prospective targets on the EDM property.

Drill holes have intercepted hydrothermal breccias, veins and stockworks hosted in phreatomagmatic breccias, felsic domes and dykes that intrude the andesite flows that form the country rock.

The final assay results for the initial four holes at LH are now available. Further assay results from the remaining six holes will be reported as they become available.

The drilling has added potential for a large tonnage of silver and gold occurrence with included high-grade zones existing at LH.

The recent drilling has enhanced the project’s potential. Although assays for only four of the 10 holes have been received, these have confirmed the presence of wide intersections of mineralized material with higher grade inclusions.

The current results show the geological model of a low sulphidation epithermal Au-Ag mineralized system within an extensive lower grade breccia halo hosted in a predominantly andesitic, variably brecciated formation.

These historic drill holes are about 250m apart along a defined roughly west-east strike of the mineralized trend identified to date. 

Based on drill intersections, the mineralized system is interpreted to remain open in all directions, and Fredonia believes more drilling is warranted.

Fredonia indirectly owns a 100 per cent interest in certain license areas within the Deseado Massif geological region in the Province of Santa Cruz, Argentina.

Fredonia Mining (FRED) is sitting at C$0.12 at 11:15 am EST.


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