# Fredonia Mining Announces Positive PEA for EDM Highlighting 146,000 oz AuEq Annual Production, US$1.49 Billion NPV10 and 65% IRR

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b

Original source: https://www.globenewswire.com/news-release/2026/08/31/3353448/0/en/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annual-production-us-1-49-billion-npv10-and-65-irr.html

Publisher: globenewswire

Original announcement: 2026-08-31T00:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Fredonia Mining Inc.

- Ticker: FRED

- Exchange: Unavailable

- Region: Santa Cruz Province, Argentina

- Primary commodity: Gold

- Secondary commodities: Silver

- Document categories: Resource update, Production

- Extracted: 2026-08-31 14:37:17 UTC

Narrative sentiment: 0.70 · Bullish

## Minestarters Atlas summary

Fredonia Mining announced a positive Preliminary Economic Assessment \(PEA\) for its El Dorado Monserrat \(EDM\) gold-silver project in Argentina, projecting a post-tax NPV10 of US$1.49 billion and a 65% IRR. The PEA outlines average annual production of 146,000 oz AuEq over a 17+ year mine life, supported by an updated Mineral Resource Estimate of 2.76 Moz AuEq Measured and Indicated, and 1.09 Moz AuEq Inferred. The study highlights a low-cost open-pit heap leach operation, but notes the preliminary nature of the PEA and its reliance on Inferred resources.

Reasoning: Fredonia Mining announced a positive Preliminary Economic Assessment \(PEA\) for its EDM project, highlighting robust economics with a high NPV and IRR, and a substantial updated Mineral Resource Estimate. However, the PEA is preliminary, relies on Inferred resources, and metallurgical assumptions are early-stage.

- Positive factor: High NPV and IRR from PEA

- Positive factor: Significant annual gold equivalent production

- Positive factor: Long mine life

- Positive factor: Substantial Measured and Indicated resource base

- Positive factor: Open-pit mining method

- Positive factor: QP/CP signed off on MRE and PEA

- Positive factor: NI 43-101 compliant resource estimate

- Negative factor: PEA is preliminary in nature

- Negative factor: Significant reliance on Inferred resources in the mine plan

- Negative factor: Metallurgical recoveries are preliminary and based on bottle-roll testwork

- Negative factor: No Mineral Reserves have been declared

Facts used in scoring: 43

## Classification and evidence

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document announces an 'Updated Mineral Resource estimate' for the EDM project.

Evidence · text

> Updated Mineral Resource estimate

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: The technical information has been reviewed and approved by Sergio Alvarado Casas, a Qualified Person as defined by NI 43-101.

Evidence · text

> The scientific and technical information contained in this news release has been reviewed and approved for disclosure by Sergio Alvarado Casas, Geologist, a Qualified Person as defined by NI 43-101.

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The Mineral Resource estimate was prepared in accordance with the CIM Definition Standards incorporated by reference into National Instrument 43-101.

Evidence · text

> prepared in accordance with the CIM Definition Standards incorporated by reference into National Instrument 43-101 – Standards of Disclosure for Mineral Projects \(“NI 43-101”\).

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: The Mineral Resource estimate is reported at a base-case cut-off grade of 0.10 g/t Au.

Evidence · text

> The updated Mineral Resource estimate is reported at a base-case cut-off grade of 0.10 g/t Au.

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The updated Mineral Resource includes 74 Mt of Inferred Mineral Resources.

Evidence · text

> 74 Mt of Inferred Mineral Resources grading 0.31 g/t Au and 8.98 g/t Ag

**Preliminary Economic Assessment**

Polarity: neutral

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The document announces the completion and results of a Preliminary Economic Assessment \(“PEA”\).

Evidence · text

> completion and results of a Preliminary Economic Assessment \(“PEA”\)

**Open Pit Mining**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The PEA contemplates a low-cost conventional open-pit truck-and-shovel mining operation.

Evidence · text

> low-cost conventional open-pit truck-and-shovel mining

**Heap Leach Route**

Polarity: neutral

Story-specific tag

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: Processing is assumed by heap leaching, based on initial test work.

Evidence · text

> processing assumed by heap leaching

**Bench Scale Only**

Polarity: negative

Story-specific tag

Definition: Only preliminary bench tests completed — no locked-cycle or pilot work.

Why it applies: Metallurgical recoveries are preliminary planning assumptions supported by initial bottle-roll testwork.

Evidence · text

> preliminary planning assumptions supported by initial bottle-roll testwork

**Low Recovery**

Polarity: negative

Story-specific tag

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: The ROM leach pad shows a very low silver recovery of 20%.

Evidence · text

> 20% for silver for the run-of-mine leach pad

**No Mineral Reserves**

Polarity: negative

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The document explicitly states that no Mineral Reserves have been declared for the EDM Project.

Evidence · text

> No Mineral Reserves have been declared for the EDM Project.

## Extracted facts

Stored fact records: 43. Some facts used in scoring do not have a stored record.

## Resource Estimates (43)

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-0)

El Dorado Monserrat · gold

#### Identity

- Project: El Dorado Monserrat
- Commodity: gold
- Region: argentina
- Reported Region: Santa Cruz Province, Argentina
- Ticker: FRED

#### Resource Data

- Category: measured
- Tonnes: 66292000
- Grade: 0.5
- Grade Unit: g/t
- Cutoff Grade: 0.1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Measured resource for gold contributes significantly to the overall project scale and confidence, with a good grade for an open-pit scenario.

- Positive factor: High confidence Measured category

- Positive factor: Good grade for open-pit gold

- Positive factor: Part of a substantial resource base

Evidence · table

> 0.50

Context: 66.292

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-1)

El Dorado Monserrat · silver

#### Identity

- Project: El Dorado Monserrat
- Commodity: silver
- Region: argentina
- Reported Region: Santa Cruz Province, Argentina
- Ticker: FRED

#### Resource Data

- Category: measured
- Tonnes: 66292000
- Grade: 13.15
- Grade Unit: g/t
- Cutoff Grade: 0.1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Measured resource for silver adds to the project's polymetallic value, contributing to the overall resource base.

- Positive factor: High confidence Measured category

- Positive factor: Contributes to polymetallic nature of the deposit

Evidence · table

> 13.15

Context: 66.292

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-2)

El Dorado Monserrat · gold

#### Identity

- Project: El Dorado Monserrat
- Commodity: gold
- Region: argentina
- Reported Region: Santa Cruz Province, Argentina
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 60162000
- Grade: 0.44
- Grade Unit: g/t
- Cutoff Grade: 0.1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation.

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 0.44

Context: 60.162

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-3)

El Dorado Monserrat · silver

#### Identity

- Project: El Dorado Monserrat
- Commodity: silver
- Region: argentina
- Reported Region: Santa Cruz Province, Argentina
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 60162000
- Grade: 12.11
- Grade Unit: g/t
- Cutoff Grade: 0.1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for silver further enhances the project's polymetallic potential, contributing to the overall resource base.

- Positive factor: Contributes to polymetallic nature of the deposit

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 12.11

Context: 60.162

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-4)

El Dorado Monserrat · gold

#### Identity

- Project: El Dorado Monserrat
- Commodity: gold
- Region: argentina
- Reported Region: Santa Cruz Province, Argentina
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 126454000
- Grade: 0.47
- Grade Unit: g/t
- Contained Metal: 1932700
- Contained Unit: oz
- Cutoff Grade: 0.1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The combined Measured and Indicated gold resource is substantial, providing a strong foundation for the project's economic viability.

- Positive factor: Large Measured and Indicated resource base

- Positive factor: Significant contained gold ounces

- Positive factor: Good grade for open-pit gold

Evidence · table

> 0.47

Context: 126.454

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-5)

El Dorado Monserrat · silver

#### Identity

- Project: El Dorado Monserrat
- Commodity: silver
- Region: argentina
- Reported Region: Santa Cruz Province, Argentina
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 126454000
- Grade: 12.66
- Grade Unit: g/t
- Contained Metal: 51460000
- Contained Unit: oz
- Cutoff Grade: 0.1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The combined Measured and Indicated silver resource is substantial, significantly contributing to the project's overall contained metal and polymetallic nature.

- Positive factor: Large Measured and Indicated resource base

- Positive factor: Significant contained silver ounces

- Positive factor: Enhances polymetallic value

Evidence · table

> 12.66

Context: 126.454

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-6)

El Dorado Monserrat · gold

#### Identity

- Project: El Dorado Monserrat
- Commodity: gold
- Region: argentina
- Reported Region: Santa Cruz Province, Argentina
- Ticker: FRED

#### Resource Data

- Category: inferred
- Tonnes: 73891000
- Grade: 0.31
- Grade Unit: g/t
- Contained Metal: 739600
- Contained Unit: oz
- Cutoff Grade: 0.1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The Inferred gold resource adds to the project's overall scale and future potential, but its speculative nature and use in the preliminary PEA mine plan introduce risk.

- Positive factor: Adds to overall resource potential

- Positive factor: Provides exploration upside

- Negative factor: Inferred category is speculative

- Negative factor: Cannot support economic studies alone

- Negative factor: Significant reliance on Inferred resources in PEA mine plan

Evidence · table

> 0.31

Context: 73.891

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-7)

El Dorado Monserrat · silver

#### Identity

- Project: El Dorado Monserrat
- Commodity: silver
- Region: argentina
- Reported Region: Santa Cruz Province, Argentina
- Ticker: FRED

#### Resource Data

- Category: inferred
- Tonnes: 73891000
- Grade: 8.98
- Grade Unit: g/t
- Contained Metal: 21345000
- Contained Unit: oz
- Cutoff Grade: 0.1

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The Inferred silver resource contributes to the project's polymetallic potential but is speculative and cannot be relied upon for economic studies.

- Positive factor: Adds to overall resource potential

- Positive factor: Contributes to polymetallic nature

- Negative factor: Inferred category is speculative

- Negative factor: Cannot support economic studies alone

Evidence · table

> 8.98

Context: 73.891

### Fact 9

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-8)

El Dorado Monserrat · gold

#### Identity

- Project: El Dorado Monserrat
- Commodity: gold
- Region: argentina
- Reported Region: Santa Cruz Province, Argentina
- Ticker: FRED

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The 50% gold recovery for the ROM leach pad is low, and its preliminary nature and reliance on bottle-roll testwork indicate low confidence and a need for further validation.

- Negative factor: Low recovery for gold

- Negative factor: Recoveries are preliminary planning assumptions

- Negative factor: Based on initial bottle-roll testwork only

- Negative factor: Additional testwork required to increase confidence

Evidence · text

> 50% for gold

### Fact 10

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-9)

El Dorado Monserrat · silver

#### Identity

- Project: El Dorado Monserrat
- Commodity: silver
- Region: argentina
- Reported Region: Santa Cruz Province, Argentina
- Ticker: FRED

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The 20% silver recovery for the ROM leach pad is very low, indicating potential metallurgical challenges for silver in this processing route, and its preliminary nature warrants low confidence.

- Negative factor: Very low recovery for silver

- Negative factor: Recoveries are preliminary planning assumptions

- Negative factor: Based on initial bottle-roll testwork only

- Negative factor: Additional testwork required to increase confidence

Evidence · text

> 20% for silver

### Fact 11

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-10)

El Dorado Monserrat

#### Identity

- Project: El Dorado Monserrat
- Region: argentina
- Reported Region: Santa Cruz Province, Argentina
- Ticker: FRED

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The nominal processing capacity of 20,000 tpd defines the scale of the proposed operation, which is a material aspect of the PEA.

- Positive factor: Establishes a clear processing scale for the project

- Negative factor: PEA is preliminary

Evidence · text

> nominal capacity of 20,000 tpd

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-11)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: measured
- Tonnes: 18484000
- Grade: 0.31
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Measured resource for gold contributes significantly to the overall project scale and confidence, with a good grade for an open-pit scenario. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High confidence Measured category

- Positive factor: Good grade for open-pit gold

- Positive factor: Part of a substantial resource base

Evidence · table

> 0.31

Context: 18.484

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-12)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: measured
- Tonnes: 18484000
- Grade: 7.85
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Measured resource for gold contributes significantly to the overall project scale and confidence, with a good grade for an open-pit scenario. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High confidence Measured category

- Positive factor: Good grade for open-pit gold

- Positive factor: Part of a substantial resource base

Evidence · table

> 7.85

Context: 18.484

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-13)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 15093000
- Grade: 0.3
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 0.30

Context: 15.093

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-14)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 15093000
- Grade: 8.08
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 8.08

Context: 15.093

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-15)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 33577000
- Grade: 0.31
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 0.31

Context: 33.577

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-16)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 33577000
- Grade: 7.95
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 7.95

Context: 33.577

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-17)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: inferred
- Tonnes: 6975000
- Grade: 0.21
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The Inferred gold resource adds to the project's overall scale and future potential, but its speculative nature and use in the preliminary PEA mine plan introduce risk. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Adds to overall resource potential

- Positive factor: Provides exploration upside

- Negative factor: Inferred category is speculative

- Negative factor: Cannot support economic studies alone

- Negative factor: Significant reliance on Inferred resources in PEA mine plan

Evidence · table

> 0.21

Context: 6.975

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-18)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: inferred
- Tonnes: 6975000
- Grade: 4.81
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The Inferred gold resource adds to the project's overall scale and future potential, but its speculative nature and use in the preliminary PEA mine plan introduce risk. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Adds to overall resource potential

- Positive factor: Provides exploration upside

- Negative factor: Inferred category is speculative

- Negative factor: Cannot support economic studies alone

- Negative factor: Significant reliance on Inferred resources in PEA mine plan

Evidence · table

> 4.81

Context: 6.975

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-19)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: measured
- Tonnes: 44748000
- Grade: 0.6
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Measured resource for gold contributes significantly to the overall project scale and confidence, with a good grade for an open-pit scenario. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High confidence Measured category

- Positive factor: Good grade for open-pit gold

- Positive factor: Part of a substantial resource base

Evidence · table

> 0.60

Context: 44.748

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-20)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: measured
- Tonnes: 44748000
- Grade: 15.37
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Measured resource for gold contributes significantly to the overall project scale and confidence, with a good grade for an open-pit scenario. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High confidence Measured category

- Positive factor: Good grade for open-pit gold

- Positive factor: Part of a substantial resource base

Evidence · table

> 15.37

Context: 44.748

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-21)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 43827000
- Grade: 0.49
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 0.49

Context: 43.827

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-22)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 43827000
- Grade: 13.51
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 13.51

Context: 43.827

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-23)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 88576000
- Grade: 0.55
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 0.55

Context: 88.576

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-24)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 88576000
- Grade: 14.45
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 14.45

Context: 88.576

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-25)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: inferred
- Tonnes: 64052000.00000001
- Grade: 0.33
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The Inferred gold resource adds to the project's overall scale and future potential, but its speculative nature and use in the preliminary PEA mine plan introduce risk. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Adds to overall resource potential

- Positive factor: Provides exploration upside

- Negative factor: Inferred category is speculative

- Negative factor: Cannot support economic studies alone

- Negative factor: Significant reliance on Inferred resources in PEA mine plan

Evidence · table

> 0.33

Context: 64.052

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-26)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: inferred
- Tonnes: 64052000.00000001
- Grade: 9.13
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The Inferred gold resource adds to the project's overall scale and future potential, but its speculative nature and use in the preliminary PEA mine plan introduce risk. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Adds to overall resource potential

- Positive factor: Provides exploration upside

- Negative factor: Inferred category is speculative

- Negative factor: Cannot support economic studies alone

- Negative factor: Significant reliance on Inferred resources in PEA mine plan

Evidence · table

> 9.13

Context: 64.052

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-27)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: measured
- Tonnes: 3059000
- Grade: 0.18
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Measured resource for gold contributes significantly to the overall project scale and confidence, with a good grade for an open-pit scenario. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High confidence Measured category

- Positive factor: Good grade for open-pit gold

- Positive factor: Part of a substantial resource base

Evidence · table

> 0.18

Context: 3.059

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-28)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: measured
- Tonnes: 3059000
- Grade: 12.67
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Measured resource for gold contributes significantly to the overall project scale and confidence, with a good grade for an open-pit scenario. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High confidence Measured category

- Positive factor: Good grade for open-pit gold

- Positive factor: Part of a substantial resource base

Evidence · table

> 12.67

Context: 3.059

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-29)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 1241000
- Grade: 0.14
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 0.14

Context: 1.241

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-30)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 1241000
- Grade: 11.75
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 11.75

Context: 1.241

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-31)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 4301000
- Grade: 0.17
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 0.17

Context: 4.301

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-32)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 4301000
- Grade: 12.4
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 12.40

Context: 4.301

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-33)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: inferred
- Tonnes: 2865000
- Grade: 0.14
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The Inferred gold resource adds to the project's overall scale and future potential, but its speculative nature and use in the preliminary PEA mine plan introduce risk. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Adds to overall resource potential

- Positive factor: Provides exploration upside

- Negative factor: Inferred category is speculative

- Negative factor: Cannot support economic studies alone

- Negative factor: Significant reliance on Inferred resources in PEA mine plan

Evidence · table

> 0.14

Context: 2.865

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-34)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: inferred
- Tonnes: 2865000
- Grade: 15.9
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The Inferred gold resource adds to the project's overall scale and future potential, but its speculative nature and use in the preliminary PEA mine plan introduce risk. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Adds to overall resource potential

- Positive factor: Provides exploration upside

- Negative factor: Inferred category is speculative

- Negative factor: Cannot support economic studies alone

- Negative factor: Significant reliance on Inferred resources in PEA mine plan

Evidence · table

> 15.90

Context: 2.865

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-35)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: measured
- Tonnes: 66292000
- Grade: 0.5
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Measured resource for gold contributes significantly to the overall project scale and confidence, with a good grade for an open-pit scenario. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High confidence Measured category

- Positive factor: Good grade for open-pit gold

- Positive factor: Part of a substantial resource base

Evidence · table

> 0.50

Context: 66.292

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-36)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: measured
- Tonnes: 66292000
- Grade: 13.15
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Measured resource for gold contributes significantly to the overall project scale and confidence, with a good grade for an open-pit scenario. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High confidence Measured category

- Positive factor: Good grade for open-pit gold

- Positive factor: Part of a substantial resource base

Evidence · table

> 13.15

Context: 66.292

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-37)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 60162000
- Grade: 0.44
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 0.44

Context: 60.162

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-38)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 60162000
- Grade: 12.11
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 12.11

Context: 60.162

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-39)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 126454000
- Grade: 0.47
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 0.47

Context: 126.454

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-40)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: indicated
- Tonnes: 126454000
- Grade: 12.66
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: This Indicated resource for gold provides a solid foundation for future studies, with a good grade for an open-pit operation. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Good grade for open-pit gold

- Positive factor: Adds to the overall resource base with reasonable confidence

Evidence · table

> 12.66

Context: 126.454

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-41)

gold

#### Identity

- Commodity: gold
- Ticker: FRED

#### Resource Data

- Category: inferred
- Tonnes: 73891000
- Grade: 0.31
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The Inferred gold resource adds to the project's overall scale and future potential, but its speculative nature and use in the preliminary PEA mine plan introduce risk. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Adds to overall resource potential

- Positive factor: Provides exploration upside

- Negative factor: Inferred category is speculative

- Negative factor: Cannot support economic studies alone

- Negative factor: Significant reliance on Inferred resources in PEA mine plan

Evidence · table

> 0.31

Context: 73.891

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/fredonia-mining-announces-positive-pea-for-edm-highlighting-146-000-oz-aueq-annu--2bca2eef-d80f-4b4b-b2b2-24cad1affa6b#fact-resource-facts-42)

silver

#### Identity

- Commodity: silver
- Ticker: FRED

#### Resource Data

- Category: inferred
- Tonnes: 73891000
- Grade: 8.98
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-08-31T00:00:00.000Z

Reasoning: The Inferred gold resource adds to the project's overall scale and future potential, but its speculative nature and use in the preliminary PEA mine plan introduce risk. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Adds to overall resource potential

- Positive factor: Provides exploration upside

- Negative factor: Inferred category is speculative

- Negative factor: Cannot support economic studies alone

- Negative factor: Significant reliance on Inferred resources in PEA mine plan

Evidence · table

> 8.98

Context: 73.891

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.