Faraday Copper Corp. [FDY-TSX; CPPKF-OTCQX] reported results from three drill holes at its 100%-owned Copper Creek project in Arizona. The holes were drilled to target potential expansion of the open-pit mineral resource.
Highlights: Hole FCD-22-012 returned 100.12 metres at 0.69% copper and 1.15 g/t silver from 34.88 metres at the Copper Giant breccia in drill hole FCD-22-012. Approximately 85 metres of this intersection are outside the pit shell used to constrain the mineral resource estimate (MRE) and provide the potential for an increase to the current open pit resource. Mineralization remains open at depth and to the southwest, Hole FCD-22-015 intersected 8.32 metres at 1.62% copper and 2.54 g/t silver from 5.64 metres, and 9.64 metres at 0.31% copper and 1.15 g/t silver from 110.55 metres. Both intersections are located outside of the MRE and demonstrate that the area north of Copper Giant remains prospective.
Paul Harbidge, president and CEO, commented: “This is one of the most exciting results from our phase II drill program as it continues to demonstrate the potential to expand the open-pit mineral resource. Importantly, mineralization remains open. This result is extremely encouraging for the growth potential of the Copper Creek project.”
Drill hole FCD-22-012 was collared west of the Copper Giant breccia and drilled to the northeast. The mineralization occurs as chalcopyrite breccia cement within Copper Giant and highlights that the copper grade, continuity and volume of this mineralized domain may be significantly larger than the historic drilling suggested. Mineralization remains open at depth and to the southwest.
Drill hole FCD-22-015 was collared approximately 120 m to the northeast from drill hole FCD-22-014 and is located entirely outside of the MRE. The hole was drilled to the north into Glory Hole volcanics and granodiorite porphyry, where no previous drill data existed. The hole intersected high-grade, breccia-hosted mineralization from 5.64 metres to 13.96 metres. In addition, 9.64 metres of copper mineralization were intersected within a wide sericite alteration halo between 75 metres and the end of the hole at 156.60 metres. Sericite alteration can be associated with high-grade mineralization in the district and this result merits additional drill testing.
Drill hole FCD-22-014 was collared at the same location as FCD-22-012 but drilled to the north. This hole was drilled into the Glory Hole volcanic host rock where no previous drill data existed. While no significant copper mineralization was identified, portions of this hole have intersected potassic and sericite alteration, suggesting that the hydrothermal system continues to the north from the current extent of drilling and, therefore, it remains a drill target.
Next steps: Phase II drilling continues and is focused on three objectives: reconnaissance drilling on new targets, expanding the MRE and better delineating high-grade mineralized zones.
Sixteen drill holes have been completed and the results for nine holes have been released to date. The assay results for additional completed drill holes will be released as they are received, analyzed and confirmed by the company.
The Copper Creek project is one of the largest undeveloped copper projects in North America with open-pit and bulk underground mining potential. The company is well financed to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise.