Fredonia Mining has initiated a 10,000m diamond drilling programme at the El Dorado–Monserrat (EDM) gold project in Argentina.

This marks a crucial phase in the company’s strategy to enhance and expand the mineral resources at EDM, situated in the Deseado Massif of Santa Cruz Province.

The current mineral resource estimate (MRE) stands at approximately 2.25 million ounces (moz) of gold equivalent in the measured and indicated categories.

This new drilling effort aims to assess high-priority targets across the EDM system, focusing on extending mineralisation zones that are still open in various directions.

Infill drilling will be conducted to enhance geological confidence in certain areas.

New exploration targets will also be examined for potential additional gold-silver mineralisation, with the goal of expanding the resource base and improving its reliability ahead of development studies.

EDM houses a substantial epithermal gold-silver system within the Deseado Massif.

This metallogenic belt is known for its significant precious metal deposits.

The start of this drilling programme demonstrates Fredonia's ongoing commitment to advancing the EDM project through discovery-focused exploration to realise the district’s full potential.

The company aims to methodically expand the existing mineral system and provide new insights that will aid the project's long-term development.

Fredonia Mining CEO Estanislao Auriemma said: “Momentum is clearly building at El Dorado–Monserrat as we continue to advance both our technical understanding of the deposit and the systematic development of the project.

“The commencement of this drill programme, alongside ongoing progress toward a Preliminary Economic Assessment, reflects a disciplined and coordinated strategy aimed at unlocking the full-scale potential of EDM.

“We believe 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.”