First assays from the 10,000-metre drill program confirm broad mineralization at Herradura Hill, strengthening EDM's second growth opportunity ahead of the Preliminary Economic Assessment
TORONTO, July 14, 2026 (GLOBE NEWSWIRE) -- Fredonia Mining Inc. ("Fredonia" or the "Company") (TSXV: FRED, OTC: FREDF) is pleased to report the first assay results from its ongoing 10,000-metre diamond drill program at the El Dorado-Monserrat ("EDM") Project in Santa Cruz Province, Argentina.
The results from drill hole HDDH051 at Herradura Hill continue to demonstrate the significant growth potential of the Company's South Deposit, confirming existing resources and expanding zones of gold and silver mineralization that reinforce a second pathway for resource expansion alongside the larger and more advanced EDM North Deposit.
Approximately 4,000 metres of the planned 10,000-metre program have been completed, and a substantial number of drill core samples are currently awaiting laboratory analysis results.
Highlights
70.75 metres grading 1.29 g/t gold equivalent ("Au Eq") (0.97 g/t Au and 21.64 g/t Ag) from 145.25 metres, including 6.5 metres grading 4.39 g/t Au Eq (3.95 g/t Au and 29.33 g/t Ag).
A separate near-surface interval returned 10.5 metres grading 2.78 g/t Au Eq (0.99 g/t Au and 120.20 g/t Ag), highlighting strong silver enrichment.
Additional high-grade intercepts of 0.8 metres grading 3.85 g/t Au Eq (3.05 Au g/t and 53.65 Ag g/t) and 0.9 metres grading 3.51 g/t Au Eq (3.37 Au g/t and 9.18 Ag g/t) demonstrate mineralization continues below the principal zone.
Mineralization at Herradura Hill remains open along strike and at depth, providing further resource expansion potential.
Results support continued growth of the South Deposit while complementing ongoing infill drilling at the North Deposit, with both areas contributing to the Company's PEA.
Reported interval length are down hole widths and not true widths.
Au Eq is calculated using metal prices of US$ 4000 /oz for Au and US$ 60/oz for Ag. The equation used is: Au Eq (g/t) = Au (g/t) + [Ag (g/t) × (US$60/oz Ag ÷ US$4,000/oz Au)]. 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 Cerro Vanguardia mine to the east of EDM with similar mineralization reports recoveries in the high 90% for Au.
"The North Deposit remains the foundation of EDM and continues to provide tremendous value," said Estanislao Auriemma, Chief Executive Officer of Fredonia. "What makes these results particularly exciting is that they demonstrate the South Deposit has the potential to become another meaningful contributor to the project. Herradura Hill has seen only a fraction of the drilling completed at the North, yet HDDH051 intersected broad zones of strong gold and silver mineralization that reinforce our confidence in the opportunity ahead."