Faraday Copper drills 3.29% copper over 219.46 metres at Copper Creek, Arizona

Faraday Copper Corp. [TSX-FDY; OTCQAX-CPPKP] reported gold assays from the Childs Aldwinkle breccia at the Copper Creek project in Arizona, United States. The company analyzed archived material, which was not previously assayed for gold, with the aim of increasing data coverage. The results support the company’s belief that there is payable gold at the project which has the potential to unlock further value.

Paul Harbidge, president and CEO, commented: “We are pleased to provide the first results of the gold program after completing analysis of the Childs Aldwinkle breccia. The results show near surface gold mineralization in the current resource pit shell and demonstrate the potential to add a gold by-product, further enhancing the value of the project. The team has been able to advance our thesis of payable gold in the resource by utilizing the historical drill core and pulps that previous operators did not analyze for gold. With Childs Aldwinkle assay results now received, the Company is currently preparing samples from other high-priority breccias and we look forward to presenting results as they are available.”

Highlights: Significantly increased analytical coverage for gold at Childs Aldwinkle with 743 new gold assay results in addition to 120 historical gold results.

Examples of intercepts with new gold assays and re-assayed copper include 219.46 metres at 3.29% copper and 0.31 g/t gold from 24.38 metres in drill hole CA-5R; 94.49 metres at 1.12% copper and 0.13 g/t gold from 341.38 metres in drill hole CA30+3; 56.38 metres at 1.32% copper and 0.29 g/t gold from 150.88 metres in drill hole CC-2.

A weighted average of 0.16 g/t gold and 1.52% copper is calculated for mineralized intercepts for which gold analytical data is available.

Gold and copper are well-correlated on an intercept basis with an overall ratio of approximately 1:10 gold (g/t):copper (%) at Childs Aldwinkle.

Historical metallurgical test work suggests high gold recoveries in the copper concentrate. The company has initiated a metallurgical program to confirm gold recoveries.

As part of the gold program, copper was re-assayed. These results confirm historical data, providing additional confidence in the database. Phase 3 drill program is expected to commence in October 2023.

Historically, only a small portion of all samples analyzed for copper were also analyzed for gold. The company is analyzing archived sample material for gold with the aim of increasing data coverage for potential inclusion in future resource updates. In addition to gold assays, samples are being re-analyzed for copper, silver and molybdenum to further validate historical results. Childs Aldwinkle is the first breccia to be analyzed as part of this program.

Gold values were calculated for a total of 28 drill hole intercepts and the results improve spatial coverage for the Childs Aldwinkle breccia.

The strong correlation between copper and gold at Childs Aldwinkle suggests that precious metals are mineralogically associated with copper and are expected to report to a copper concentrate. The company has initiated a metallurgical program to obtain additional data on gold recoveries, including variability test work across multiple breccia domains.

The company is continuing the re-assaying of historical material for potential inclusion of gold in future mineral resource updates. Additional areas are expected to include the Copper Prince and Pole breccias and the Keel underground zone.

The Phase 3 Drill Program is expected to commence in October 2023 with the following three objectives: expanding the MRE; better delineating high-grade mineralized zones; and reconnaissance drilling on new targets.

The company has commenced a metallurgical program focused on grind size optimization to test viability of coarse particle flotation, gold deportment to concentrate and further test work on near surface mineralization.\

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