Fredonia launches large-scale drilling for expanded gold resource in Argentina

The company aims to expand and upgrade the existing mineral resource, which is estimated at 2.25-million ounces of gold equivalent in the measured and indicated categories.

The drilling will test high-priority targets across the broader EDM mineral system, with a focus on extending known zones of mineralisation that remain open in multiple directions and increasing geological confidence within selected portions of the current resource through targeted infill drilling.

The programme will also evaluate newly identified exploration targets that demonstrate strong potential for additional gold/silver mineralisation within the wider project area, with the objective of both expanding the overall resource base and enhancing its confidence ahead of ongoing development studies.

The EDM project is believed to host a large-scale epithermal gold and silver system within the highly prospective Deseado Massif – a globally recognised metallogenic belt that contains multiple identified significant precious metals deposits.

Fredonia believes the EDM system represents considerable potential for further resource growth, with mineralisation remaining open along strike and at depth.

“We are only beginning to scratch the surface of what this system can deliver and this programme is designed to help define the true scale of the opportunity,’ says CEO Estanislao Auriemma.

Meanwhile, the company continues to advance a preliminary economic assessment on the project.

The 6200 ha EDM project is located close to AngloGold Ashanti’s Vanguardia mine, which produces 200000 oz/y of gold.