Faraday Copper drills 0.95% copper over 30.5 metres at Copper Creek, Arizona

Faraday Copper Corp. [FDY-TSX; CPPKF-OTCQX] reported the final two drill hole results from the phase 2 program at the 100%-owned Copper Creek project, Arizona, United States. These two holes were drilled to test vertical extension of high-grade breccia mineralization above the American Eagle underground footprint and target previously undrilled areas.

Paul Harbidge, president and CEO, commented: “The final results from our phase 2 drill program have continued to show the upside to the existing resource that formed the basis for the PEA. It is particularly exciting to see the high-grade results in the Bald breccia, which is located above the American Eagle porphyry. This highlights the potential to identify additional vertically-extensive mineralized zones on the project, similar to Mammoth-Keel. We intend to further test this area as part of our phase 3 drill program, which is expected to commence in the fourth quarter of this year.”

Highlights: Intersected 30.50 metres at 0.95% copper, 3.62 g/t silver and 0.02 g/t gold from 213.80 metres, including 14.84 metres at 1.61% copper, 2.05 g/t silver and 0.04 g/t gold from 229.46 metres in drill hole FCD-23-037 at the Bald breccia. This result confirms near-surface, high-grade breccia mineralization within the Bald resource pit shell and highlights the potential for resource expansion above the American Eagle porphyry.

Results from phase 2 drilling, along with new geophysical data, spectral data and geological mapping, will contribute to ranking and prioritizing targets for a 20,000-metre phase 3 drill program planned to commence in the fourth quarter of 2023.

A metallurgical program has commenced and is focused on grind size optimization, gold deportment and further test work on near surface mineralization. Analysis of historical drill core for gold in selected breccias is in progress.

The drill hole highlights that the Marsha area remains prospective for resource expansion.

Historical drilling in the American Eagle area was largely near-vertical and widely spaced to target the shallow dipping veins, which are key mineralization hosts in the underground resource. The historical drilling is not optimal for delineating the steeply dipping veins and breccia zones near-surface. Angled drilling in this area is planned as part of the phase 3 program to target open pit resource expansion.

Historical results, together with drill hole FCD-23-037, between the Mammoth and Bald pit shells, spanning approximately 1 km, highlight the potential for mineralization to be delineated above the American Eagle porphyry between surface and 500 metres depth. Some examples of historical drill results indicating near-surface potential include 18.29 metres at 0.94% copper from 85.34 metres (AE-3R); 18.23 metres at 0.84% copper from 39.62 metres (S-14); 27.32 metres at 0.51% copper from 186.54 metres (RAE-11-063); 21.33 metres at 0.34% copper from 6.10 m (NE-4); and 70.10 metres at 0.38% copper from 176.78 metres (S-17).

Phase 2 drilling, which included a total of 28 drill holes was completed in June 2023. This news release includes the results of the final two drill holes.

To rank and prioritize targets for the 20,000-metre phase 3 drill program, the company is integrating and interpreting multiple datasets. This includes geological mapping, drill core, geochemistry, hyperspectral data, airborne magnetic and electromagnetic geophysical data. The phase 3 drill program is scheduled to commence in the fourth quarter of 2023 with the following three objectives: expanding the MRE; better delineating high-grade mineralized zones; and reconnaissance drilling on new targets.

An assaying program of historical drill core samples has been initiated to determine the potential for inclusion of gold in future resource updates. Historically, approximately 12% of all core samples analyzed for copper were also analyzed for gold. As part of the program, the first breccia to be analyzed is Childs Aldwinkle, for which 359 samples have been submitted to the laboratory.

The phase 2 metallurgical program has commenced and is focused on grind size optimization to test viability of coarser particle flotation, gold deportment to concentrate and further test work on near surface mineralization.

The Copper Creek project, is one of the largest undeveloped copper projects in North America with open pit and bulk underground mining potential.