STOCK TITAN

Faraday Copper Intersects 1.01% Copper Over 117.90 Metres within 269.65 Metres at 0.64% Copper, Discovering the High-Grade Mineralized Banjo Breccia in the American Eagle Area

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

Faraday Copper announced positive drilling results from its Phase III drill program at the Copper Creek Project in Arizona. Two drill holes revealed significant copper mineralization.

Drill hole FCD-24-070 uncovered the Banjo breccia, with 117.90 meters at 1.01% copper and 1.87 g/t silver, within 269.65 meters at 0.64% copper and 1.32 g/t silver. Drill hole FCD-24-071 intersected 88.16 meters at 0.39% copper and 1.43 g/t silver.

The results indicate potential for a substantial near-surface resource, comparable to the Mammoth breccia. Phase III has completed 36 drill holes, with 34 results announced. The focus remains on delineating high-grade zones and expanding the Mineral Resource Estimate.

Faraday Copper ha annunciato risultati positivi dalla sua fase III del programma di perforazione presso il Copper Creek Project in Arizona. Due fori di perforazione hanno rivelato una significativa mineralizzazione di rame.

Il foro di perforazione FCD-24-070 ha scoperto la breccia Banjo, con 117,90 metri a 1,01% di rame e 1,87 g/t di argento, all'interno di 269,65 metri a 0,64% di rame e 1,32 g/t di argento. Il foro di perforazione FCD-24-071 ha intercettato 88,16 metri a 0,39% di rame e 1,43 g/t di argento.

I risultati indicano un potenziale per una risorsa significativa vicino alla superficie, comparabile alla breccia Mammoth. La fase III ha completato 36 fori di perforazione, con 34 risultati annunciati. L'attenzione rimane sulla deliminazione delle zone ad alta legge e sull'espansione della stima delle risorse minerali.

Faraday Copper anunció resultados positivos de perforación de su programa de perforación de la Fase III en el Proyecto Copper Creek en Arizona. Dos agujeros de perforación revelaron una mineralización significativa de cobre.

El agujero de perforación FCD-24-070 descubrió la brecha Banjo, con 117.90 metros al 1.01% de cobre y 1.87 g/t de plata, dentro de 269.65 metros al 0.64% de cobre y 1.32 g/t de plata. El agujero de perforación FCD-24-071 intersectó 88.16 metros al 0.39% de cobre y 1.43 g/t de plata.

Los resultados indican un potencial para un recurso significativo cerca de la superficie, comparable a la brecha Mammoth. La fase III ha completado 36 agujeros de perforación, con 34 resultados anunciados. El enfoque sigue siendo delinear zonas de alta ley y ampliar la estimación de recursos minerales.

Faraday Copper는 애리조나의 Copper Creek 프로젝트에서 Phase III 드릴 프로그램의 긍정적인 드릴링 결과를 발표했습니다. 두 개의 드릴 홀에서 상당한 구리 광물이 발견되었습니다.

드릴 홀 FCD-24-070은 117.90미터에서 1.01%의 구리 및 1.87 g/t의 은을 포함한 Banjo 브레치아를 발견하였고, 269.65미터에서 0.64%의 구리 및 1.32 g/t의 은이 있었습니다. 드릴 홀 FCD-24-071은 88.16미터에서 0.39%의 구리 및 1.43 g/t의 은을 발견했습니다.

결과는 Mammoth 브레치아와 비교할 때 상당한 근표면 자원의 잠재력을 나타냅니다. Phase III는 36개의 드릴 홀을 완료했으며, 34개의 결과가 발표되었습니다. 고등급 구역을 구분하고 광물 자원 추정을 확장하는 데 계속 초점을 맞추고 있습니다.

Faraday Copper a annoncé des résultats de forage positifs de son programme de forage de Phase III au projet Copper Creek en Arizona. Deux forages ont révélé une minéralisation significative en cuivre.

Le forage FCD-24-070 a découvert la brèche Banjo, avec 117,90 mètres à 1,01 % de cuivre et 1,87 g/t d'argent, dans 269,65 mètres à 0,64 % de cuivre et 1,32 g/t d'argent. Le forage FCD-24-071 a intersecté 88,16 mètres à 0,39 % de cuivre et 1,43 g/t d'argent.

Les résultats indiquent un potentiel pour une ressource significative près de la surface, comparable à celle de la brèche Mammoth. La phase III a complété 36 forages, avec 34 résultats annoncés. L'accent reste mis sur la délimitation des zones de haute teneur et sur l'élargissement de l'estimation des ressources minérales.

Faraday Copper hat positive Bohrergebnisse aus seinem Bohrprogramm der Phase III im Copper Creek Projekt in Arizona bekannt gegeben. Zwei Bohrlöcher zeigten eine signifikante Kupfermineralisierung.

Das Bohrloch FCD-24-070 enthüllte die Banjo-Brechung, mit 117,90 Metern bei 1,01% Kupfer und 1,87 g/t Silber, innerhalb von 269,65 Metern bei 0,64% Kupfer und 1,32 g/t Silber. Das Bohrloch FCD-24-071 schnitt 88,16 Meter bei 0,39% Kupfer und 1,43 g/t Silber.

Die Ergebnisse deuten auf ein erhebliches Potenzial für eine nahe der Oberfläche liegende Ressource hin, die mit der Mammoth-Brechung vergleichbar ist. Die Phase III hat 36 Bohrlöcher abgeschlossen, von denen 34 Ergebnisse bekannt gegeben wurden. Der Fokus liegt weiterhin auf der Abgrenzung von hochgradigen Zonen und der Erweiterung der Schätzung der Mineralressourcen.

Positive
  • Discovery of high-grade Banjo breccia with 117.90 meters at 1.01% copper.
  • Drill hole FCD-24-070 intersected 269.65 meters at 0.64% copper and 1.32 g/t silver.
  • Drill hole FCD-24-071 intersected 88.16 meters at 0.39% copper.
  • Potential for near-surface resource comparable to Mammoth breccia.
  • Completion of 36 drill holes in Phase III, with 34 released results.
Negative
  • None.

VANCOUVER, BC / ACCESSWIRE / August 21, 2024 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY)(OTCQX:CPPKF) is pleased to announce the results of two drill holes from its ongoing Phase III drill program at the Copper Creek Project, located in Arizona, U.S. ("Copper Creek"). The two holes were drilled to continue to evaluate the near-surface mineralization in the American Eagle area.

Paul Harbidge, President and CEO, commented "Drilling in the American Eagle Area continues to provide very exciting results, with the discovery of the Banjo breccia, which has returned the best grade-width intercept of this drill campaign to date. The Phase III drilling shows the potential for a large near-surface resource to be defined above the current underground resource. The current interpretation suggests characteristics similar to the Mammoth breccia. Mammoth connects with the Keel underground zone and is the most vertically continuous mineralized system defined so far on the property. Drilling continues with the emphasis on both delineation of the Banjo breccia and testing additional breccias in the American Eagle area."

Highlights

  • Drill hole FCD-24-070 is the discovery hole for the high-grade Banjo breccia and confirms significant mineralization above the American Eagle underground resource.

  • Drill hole FCD-24-070 intersected 117.90 metres ("m") at 1.01% copper and 1.87 grams per tonne ("g/t") silver from 323.52 m, including 15.89 m at 2.15% copper and 2.48 g/t silver from 390.00 m.

    • This intercept is within 269.65 m at 0.64% copper and 1.32 g/t silver from 229.49 m.

    • Mineralization remains open.

  • At the American Eagle breccia, intersected 88.16 m at 0.39% copper and 1.43 g/t silver from 188.34 m in drill hole FCD-24-071, including 15.80 m at 0.93% copper and 3.71 g/t silver from 188.34 m.

  • Confirmed vertical continuity of near surface breccia hosted mineralization to the porphyry mineralization at depth in the American eagle area.

(For true width information see Table 1.)

The American Eagle area as mapped on surface, covers approximately 800 m by 1,000 m and is host to numerous prospective breccias and porphyries which have strong copper geochemical signatures. These surface expressions locate above the large underground porphyry mineral resource, which is approximately 500 m to 1,100 m depth below surface. Historically, the near-surface mineralization was not adequately tested as previous drilling was vertical to steeply inclined. Mapped geology, isolated historical drill intercepts and historical small-scale mining highlight the potential for near-surface mineralization. The Company has reported assay results for eight drill holes from this area as part of the current program (for drill holes not reported herein, refer to news releases dated June 25, 2024 and July 25, 2024). These results provide a broad framework of the geology, structure, and alteration and confirm the potential for significant near-surface copper mineralization.

Drill hole FCD-24-070 was collared approximately 240 m southeast of the American Eagle breccia and drilled to the north (Figures 1, 2, 4 and 5). Porphyry and breccia intervals alternate in the first 81 m. From 81 m to 242 m, the hole intersected mainly granodiorite crosscut by up to 20 m wide breccia intervals and porphyry domains. Breccias in this upper part of the hole are pyrite and quartz cemented. From 242 m to 450 m, hydrothermal breccia is characterized by intense sericite alteration. Mineralization occurs as chalcopyrite together with pyrite and quartz breccia cement and to a lesser degree in veinlets. The last 50 m of the hole contain chalcopyrite mineralization associated with early halo veins.

Drill hole FCD-24-071 was collared approximately 140 m southeast of the American Eagle breccia and drilled to the northwest (Figures 1, 3 and 4). It intersected mostly igneous cemented breccia, variably sericite altered, from surface to 98 m, and granodiorite cross-cut by porphyry until 192 m. Alternating hydrothermal breccia and porphyry domains are present until 244 m, after which the hole enters granodiorite cross-cut by porphyry. Copper mineralization occurs as chalcopyrite in breccia cement and veinlets below 188 m downhole, or 110 m below surface. Chalcocite occurs locally with chalcopyrite. Molybdenite is abundant from 238 m to 241 m. Sericite and tourmaline are dominant alteration minerals associated with hydrothermal breccia domains.

Next Steps

Phase III drilling continues with the following objectives:

  • Reconnaissance and follow-up drilling on new targets;

  • Expanding the Mineral Resource Estimate ("MRE"); and

  • Better delineating high-grade mineralized zones.

The current focus of drilling is on near-surface mineralization in the American Eagle area.

As part of the Phase III program, 36 drill holes have been completed and results for 34 have been released. Thirteen holes were drilled in Area 51, ten in the American Eagle area, five in the Bald area, three in the Copper Prince - Copper Giant area, three near Old Reliable and two in the Titan breccia. The assay results for additional completed drill holes will be released as they are received, analyzed and confirmed by the Company.

Figure 1: Plan View Showing Surface Geology and Location of Drill Holes in the American Eagle Area

Note: The open pit shell is based on constraints used in the MRE as presented in the report titled "Copper Creek Project NI 43-101 Technical Report and Preliminary Economic Assessment" with an effective date of May 3, 2023 (the "Technical Report") available on the Company's website at www.faradaycopper.com and on the Company's SEDAR+ profile at www.sedarplus.ca.

Figure 2: Cross Section Showing Drill Hole FCD-24-070 at the Banjo Breccia

Figure 3: Cross Section Showing Drill Hole FCD-24-071 at the American Eagle Breccia

Figure 4: Isometric View Showing Phase III Drill Holes in the American Eagle Area

Note: The open pit shells and underground footprint are based on constraints used in the MRE as presented in the Technical Report available on the Company's website at www.faradaycopper.com and on the Company's SEDAR+ profile at www.sedarplus.ca. For drill holes not reported herein, refer to news releases dated June 25, 2024 and July 25, 2024.

Figure 5: A Core Sample from Drill Hole FCD-24-070

Table 1: Selected Drill Results

Drill Hole ID

From

To

Length

True Width

Cu

Au

Ag

Mo

(m)

(m)

(m)

(m)

(%)

(g/t)

(g/t)

(%)

FCD-24-070

229.49

499.14

269.65

190

0.64

0.02

1.32

0.0010

including

323.52

441.42

117.90

83

1.01

0.03

1.87

0.0016

Also including

390.00

405.89

15.89

11

2.15

0.05

2.48

0.0009

FCD-24-071

188.34

276.50

88.16

68

0.39

0.01

1.43

0.0041

including

188.34

204.14

15.80

12

0.93

0.03

3.71

0.0022

and including

238.00

252.07

14.07

11

0.64

0.02

1.69

0.0203

Note: All intercepts are reported as downhole drill widths. Mineralization includes bulk porphyry style and breccia mineralization true widths are approximate due to the irregular shape of mineralized domains.

Table 2: Collar Locations from the Drill Holes Reported Herein

Drill Hole ID

Easting

Northing

Elevation

Azimuth

Dip

Target

Depth

Depth

(m)

(°)

(°)

(ft)

(m)

FCD-24-070

549,224

3,623,279

1309

340

55

Banjo

1,521.4

499.14

FCD-24-071

549,123

3,623,273

1295

307

40

American Eagle

977.6

320.74

Note: Coordinates are given as World Geodetic System 84, Universal Transverse Mercator Zone 12 north (WGS84, UTM12N).

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance

All sampling was conducted under the supervision of the Company's geologists and the chain of custody from Copper Creek to the independent sample preparation facility, ALS Laboratories in Tucson, AZ, was continuously monitored. The samples were taken as ½ core, over 2 m core length. Samples were crushed, pulverized and sample pulps were analyzed using industry standard analytical methods including a 4-Acid ICP-MS multielement package and an ICP-AES method for high-grade copper samples. Gold was analyzed on a 30 g aliquot by fire assay with an ICP-AES finish. A certified reference sample was inserted every 20th sample. Coarse and fine blanks were inserted every 20th sample. Approximately 5% of the core samples were cut into ¼ core and submitted as field duplicates. On top of internal QA-QC protocol, additional blanks, reference materials and duplicates were inserted by the analytical laboratory according to their procedure. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Faraday's VP Exploration, Dr. Thomas Bissig, P. Geo., who is a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

About Faraday Copper

Faraday Copper is a Canadian exploration company focused on advancing its flagship copper project in Arizona, U.S. The Copper Creek Project is one of the largest undeveloped copper projects in North America with significant district scale exploration potential. The Company is well-funded to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. Faraday trades on the TSX under the symbol "FDY".

For additional information please contact:

Stacey Pavlova, CFA
Vice President, Investor Relations & Communications
Faraday Copper Corp.
E-mail: info@faradaycopper.com
Website: www.faradaycopper.com

To receive news releases by e-mail, please register using the Faraday website at www.faradaycopper.com.

Cautionary Note on Forward Looking Statements

Some of the statements in this news release, other than statements of historical fact, are "forward-looking statements" and are based on the opinions and estimates of management as of the date such statements are made and are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of Faraday to be materially different from those expressed or implied by such forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning the exploration potential of the Copper Creek property and the likelihood of the Company increasing the resource on the Copper Creek Project.

Although Faraday believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Factors that could cause actual results to differ materially from those in forward-looking statements include without limitation: market prices for metals; the conclusions of detailed feasibility and technical analyses; lower than expected grades and quantities of mineral resources; receipt of regulatory approval; receipt of shareholder approval; mining rates and recovery rates; significant capital requirements; price volatility in the spot and forward markets for commodities; fluctuations in rates of exchange; taxation; controls, regulations and political or economic developments in the countries in which Faraday does or may carry on business; the speculative nature of mineral exploration and development, competition; loss of key employees; rising costs of labour, supplies, fuel and equipment; actual results of current exploration or reclamation activities; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties; unexpected delays and costs inherent to consulting and accommodating rights of Indigenous peoples and other groups; risks, uncertainties and unanticipated delays associated with obtaining and maintaining necessary licenses, permits and authorizations and complying with permitting requirements, including those associated with the Copper Creek property; and uncertainties with respect to any future acquisitions by Faraday. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental events and hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and the risk of inadequate insurance or inability to obtain insurance to cover these risks as well as "Risk Factors" included in Faraday's disclosure documents filed on and available at www.sedarplus.ca.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction. This press release is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities in Faraday in Canada, the United States or any other jurisdiction. No securities commission or similar authority in Canada or in the United States has reviewed or in any way passed upon this press release, and any representation to the contrary is an offence.

SOURCE: Faraday Copper Corp.



View the original press release on accesswire.com

FAQ

What are the latest drilling results for CPPKF?

Faraday Copper announced results showing significant mineralization, with drill hole FCD-24-070 uncovering 117.90 meters at 1.01% copper and 1.87 g/t silver.

Where is the Copper Creek Project located?

The Copper Creek Project is located in Arizona, U.S.

What is the significance of the Banjo breccia discovery for CPPKF?

The Banjo breccia discovery indicates potential for substantial near-surface copper resources, enhancing the project's value.

How many drill holes have been completed in Phase III for CPPKF?

36 drill holes have been completed in Phase III, with results for 34 holes released.

What is the focus of Faraday Copper's ongoing drill program?

The focus is on delineating high-grade mineralized zones and expanding the Mineral Resource Estimate.

FARADAY COPPER CORP

OTC:CPPKF

CPPKF Rankings

CPPKF Latest News

CPPKF Stock Data

131.50M
104.63M
13.72%
14.02%
Copper
Basic Materials
Link
United States of America
Vancouver