Fredonia holds licences over three areas in the ‘Deseado’ (totalling 18,300 ha.) including the flagship El Dorado Monserrat Project, ‘EDM’ (6,200ha), as well as El Aguila, 9,124ha, Hornía, 2,966 ha. Fredonia has undertaken exploration drill programmes on EDM and El Aguila with encouraging results. Hornía is an underexplored area but with historic drilling indicating realistic potential for further discoveries. El Aguila is interpreted as a failed caldera with significant gold mineralisation encountered in the radial as well as ring structures.