- Fredonia Mining (FRED) releases more drilling results after the completion of drilling at El Dorado Monserrat
- Drilling at the La Herradura prospect has significantly increased the strike extent of the high-grade potential
- The company anticipates drilling at LH will recommence in October
- Drilling has added additional credibility that the potential for a large tonnage Au-Ag occurrence with included high-grade zones exists at LH.
- Fredonia indirectly owns a 100 per cent interest in certain license areas totalling approximately 18,300 ha
- Fredonia Mining (FRED) is sitting at C$0.12 as of September 19 at 12:55 pm EST
Fredonia Mining (FRED) received the remaining assays from the recently completed drilling programme at the El Dorado Monserrat property.
As previously reported, 10 HQ diamond drill core holes were drilled at LH, with a further drill hole on the ‘Gladys’ prospect, 4.5 km to the northwest. In total, 11 holes were drilled for 2,482.80 m.
“We are extremely pleased and encouraged with the results obtained in the recent drilling campaigns,” commented Estanislao Auriemma, CEO of Fredonia.
“The primary objective remains to confirm and increase the overall potential of the El Dorado Monserrat property and advance LH and the Main Veins to a compliant maiden resource,” added Fredonia.
The technical team is now focused on interpreting the drill sections and assimilating this information with the assays to plan a further drill programme targeting potential high-grade extensions.
The company anticipates drilling at LH will recommence in October.
Preparations are already underway for this 2,500 m follow-up drilling phase, which will also include further exploration drilling on other areas considered 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 geological model for the mineralization developed by the exploration team is constantly refined as drilling and mapping information is integrated.
The data continue to support the presence of a potential diatreme surrounded by an extensive brecciated host system, the dimensions of which are as yet undefined, being geologically open in all directions.
Drilling has added additional credibility that the potential for a large tonnage Au-Ag occurrence with included high-grade zones exists at LH.
The results further support and indicate 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.
Drilling continues to enhance the resource potential at LH, and the assays have confirmed the presence of wide intersections of mineralized material with higher-grade inclusions.
This is specifically evident in hole HDDH 40 with 7 m at 1.88 grams per tonne of Au with an included 0.4 m at 26.4 grams per tonne.
The drill programme was originally initiated to target the extensions, both down dip and along strike of the high-grade intervals in drill holes HDDH013 and HDDH011 and their potential depth extensions.
These historic drill holes are about 250 m apart along a defined strike of the mineralized trend.
The drill holes drilled further along strike to the east, including HDDH40, 41 and 43, have geologically and geochemically extended the mineralized trend by potentially 300 m to the east and remain open.
Based on drill intersections to date, the mineralized system is interpreted to remain open in all directions, and Fredonia believes more drilling is warranted.
A single drill hole, GLDDH001, targeted the Gladys vein, which outcrops over 1 km and is located near the Abanico veins.
Gladys occupies a regional west-northwest transtensional shear corridor.
Hole GLDDH001 is the first drilling carried out in this corridor and intercepted in a fault zone filled with gouge, clays and chalcedonic clasts with poor drill core recovery, gold values were generally low to below the level of detection.
Fredonia indirectly owns a 100 per cent interest in certain license areas totalling approximately 18,300 ha.
Fredonia Mining (FRED) is sitting at C$0.12 as of September 19 at 12:55 pm EST.