Hornía (Petrificados) was previously part of a larger landholding referred to as the Satellite project. This was variously prospected by several companies and whilst held by Coeur Argentina was systematically explored, including Aster interpretation, mapping, rock chip sampling, trenching and limited drilling. Despite its prospectivity it is unsure why Coeur Argentina S.R.L. (no longer operating in the Argentine) relinquished the project.
A 0.5% net profits interest exists on Hornía (Petrificados)
The oldest rocks in the property are andesitic flows, volcanic breccias and tuffs from the Bajo Pobre Formation, exposed in the southern part of the area. This unit is overlaid and partially in fault contact with coarse grained-partially welded rhyolitic crystal tuff, from the Chon Aike Formation exposed along the western side of the property. This unit is covered and partially inter-fingered with layered fine grained ash fall tuffs and volcanoclastic sediments assigned to La Matilde Formation (both belonging to Bahía Laura Group), largely exposed in the western and northern portions of the property. These are the three most prospective formations in the Deseado.
Alteration and mineralization coincides primarily with strongly silicified N°30-N°60 west-trending tabular structures. The silicified zones contain veins, veinlets, stockworks and hydrothermal breccias hosted in welded rhyolitic tuffs. Veins and breccias show a variety of textures indicatives of multiple episodes of brecciation and silica deposition, including carbonate replacement textures and massive to banded veins with chalcedony, jasper and fine grained saccharoidal white to gray silica, interpreted as being formed at shallow depths within the hydrothermal system.
Gold mineralisation is associated with anomalous values of ‘pathfinder’ elements. Arsenic (As), mercury (Hg), antimony (Sb), these are typical vectors to epithermal gold mineralisation.
Historical drill results from holes located immediately to the north of northern boundary:
ST-10 from 35.4m, 0.65 m@ 0.72 g/t Au; 5 g/t Ag
ST-07 from 23.5m, 0.35 m@ 0.53 g/t Au; 10 g/t Ag
Fredonia intends to undertake a thorough review of the historical data before embarking on a project wide exploration programme of surface reconnaissance and geophysics prior to an anticipated scout exploration drill programme.