Faraday Copper Intersects 47.95 metres at 0.74% Copper within 304.40 metres at 0.35% Copper in the American Eagle Area

Rhea-AI Summary

Faraday Copper Corp. (CPPKF) has announced results from six drill holes in its Phase III program at the Copper Creek Project in Arizona. The drilling revealed significant copper mineralization in the American Eagle area, including notable intersections such as:

- 304.40 metres at 0.35% copper and 0.87 g/t silver, including 47.95m at 0.74% copper
- 131.36 metres at 0.47% copper and 1.18 g/t silver
- 84.83 metres at 0.39% copper and 0.98 g/t silver

The American Eagle area covers approximately 800m by 1,000m and hosts numerous prospective breccias and porphyries. The company expects a data cut-off by the end of Q1 2025 and plans to release an updated technical study in H2 2025. The drilling program has completed over 30,000 metres beyond the current Mineral Resource Estimate, with new targets representing significant potential for project value enhancement.

Positive

• Strong drill results showing significant copper mineralization: 304.40m @ 0.35% Cu
• Expansion of near-surface mineralization in American Eagle area
• Potential for maintaining low strip ratio in mining operations
• Over 30,000 metres of additional drilling completed beyond current resource estimate

Negative

• One drill hole (FCD-24-081) terminated early due to mechanical issues

VANCOUVER, BC / ACCESS Newswire / January 30, 2025 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY)(OTCQX:CPPKF) is pleased to announce the results of six drill holes from its ongoing Phase III drill program at the Copper Creek Project, located in Arizona ("Copper Creek"). Five holes were drilled in the American Eagle area and one at Old Reliable.

Paul Harbidge, President and CEO, commented "These latest drill hole results continue to expand the near-surface mineralization in the American Eagle area. These include the first results from the Jailhouse breccia, which are starting to fill the gap between Mammoth and the American Eagle area. Currently, Mammoth represents the largest portion of the open pit resource¹ and the American Eagle area is demonstrating a similar potential. It is particularly exciting to see not only the high-grade breccias, but also the broad zones of porphyry style mineralization, which supports the potential for maintaining a low strip ratio."

"As we continue to receive excellent drill results in the American Eagle area, we expect a data cut-off later in the first quarter and the delivery of the updated technical study in the second half of 2025."

Highlights

• Drilling in the American Eagle area continues to demonstrate that newly identified near-surface copper mineralization is present in both high-grade breccias and porphyry-style veins (Figures 1 and 4).

• In the American Eagle area, west of the Banjo breccia, drill hole FCD-24-091 intersected 304.40 metres ("m") at 0.35% copper and 0.87 grams per tonne ("g/t") silver from 170.09 m, including 47.95 m at 0.74% copper and 1.15 g/t silver from 180.42 m.

  • The mineralization in this drill hole is contained in porphyry-style veins as well as in breccia.

  • Additional intercepts of porphyry-style vein mineralization in this hole include 15.69 m at 0.29% copper from 8.39 m and 29.74 m at 0.30% copper from 108.54 m.

• West of the American Eagle breccia, drill hole FCD-24-088 intersected 131.36 m at 0.47% copper and 1.18 g/t silver from 382.81 m (290 m from surface), including 68.13 m at 0.65% copper and 1.51 g/t silver from 394.29 m.

  • The mineralization in this drill hole is contained in breccia and porphyry-style veins.

• At the Jailhouse breccia, the first drill hole in this new target, FCD-24-081, intersected 84.83 m at 0.39% copper and 0.98 g/t silver from 34.96 m, including 39.60 m at 0.68% copper and 1.56 g/t silver from 77.00 m. The hole was terminated in strongly mineralized breccia due to mechanical issues. Follow-up drilling is underway.

  • Jailhouse breccia drill results begin to fill the gap between Mammoth and the American Eagle area, offering additional open pit resource potential, while maintaining a low strip ratio.

• Dr. Thomas Bissig received the 2024 Colin Spence Award for Excellence in Global Mineral Exploration by The Association for Mineral Exploration ("AME") at the 2025 Roundup Conference. This recognition celebrates the discovery of significant new near-surface copper mineralization at the Copper Creek Project by Faraday's geology team under Dr. Bissig's leadership (AME News Release).

(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 (Figures 1 to 4). These surface expressions locate above the large underground porphyry mineral resource¹, 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 twenty drill holes from this area as part of the current program (for drill holes not reported herein, refer to news releases on the Company's website and SEDAR+ profile at www.sedarplus.ca). These results provide a broad framework of the geology, structure, and alteration and confirm the potential for significant near-surface copper mineralization. Drilling continues in the area.

• Drill hole FCD-24-081 is the first hole drilled into the Jailhouse breccia. It was collared 20 m south of the breccia and drilled to the north. The hole intersected granodiorite to 13 m and breccia to the end of the hole. Short intervals of porphyry are present at 74 m to 75 m and 86 m to 89 m. Alteration is quartz-sericite and lesser tourmaline. Copper is contained in chalcopyrite and traces of chalcocite, which occur together with pyrite as breccia cement. This hole was terminated in strongly mineralized breccia, due to mechanical issues. Mineralization remains open at depth and follow-up drilling is currently underway.

• Drill hole FCD-24-085 was collared near drill hole FCD-24-081 and drilled towards the southwest, targeting the Courthouse breccia. The first 42 m are in granodiorite, followed by 5 m of porphyry. From 47 m to 192 m hydrothermal breccia is the dominant lithology, followed by granodiorite to the end of the hole, except for hydrothermal breccia from 264 m to 281 m. Alteration associated with breccia is potassium feldspar overprinted by quartz-sericite. In the upper breccia domain, pyrite is the dominant breccia cement with locally significant chalcopyrite and chalcocite. The lower breccia is characterized by abundant chalcopyrite cement, corresponding to the high-grade intersection in this hole. Follow-up drilling is planned below this drill hole where copper grades are expected to increase.

• Drill hole FCD-24-087 was collared near drill hole FCD-24-081 and drilled to the northeast targeting the Jailhouse breccia and the Post-office area. The hole intersected granodiorite to 13 m, followed by breccia and short porphyry intercepts to 59 m. Granodiorite is present to 104 m, followed by a domain of alternating breccia and porphyry to 158 m, and granodiorite to the end of the hole. Quartz-sericite-kaolinite is the dominant alteration associated with breccias and porphyry. Chalcopyrite occurs together with pyrite and, locally chalcocite as breccia cement and lesser disseminations and veinlets.

• Drill hole FCD-24-088 was collared west of the Prada breccia and drilled to the north, targeting the western extension of the American Eagle breccia. It intercepted mostly granodiorite to 332 m with domains of breccia and post-mineral porphyry from 51 m to 82 m and 100 m to 145 m. From 332 m to 424 m, porphyry and igneous cemented breccia dominate with local occurrence of hydrothermal breccia, which becomes dominant from 424 m to 486 m. From 486 m to 520 m, it intersected granodiorite, and porphyry to the end of the hole. Potassic alteration, moderately overprinted by sericite-chlorite and kaolinite is associated with breccia domains in the first 150 m of the drill hole. Potassic alteration with a more intense sericite-kaolinite overprint is observed from 400 m to the end of the hole. Chalcopyrite increases below 300 m and occurs together with pyrite mostly in porphyry-style veins, but also as breccia cement.

• Drill hole FCD-24-091 was collared 100 m northeast of the American Eagle breccia and drilled steeply to the northeast, testing the Banjo West breccia. The hole intersected granodiorite to 177 m, hydrothermal breccia to 233 m and granodiorite to the end of the hole. Alteration in the breccia domain is quartz-sericite, with kaolinite-sericite from 110 m to 140 m. Chalcopyrite is present together with pyrite as breccia cement and in veinlets. Trace chalcocite has been observed from surface to approximately 177 m.

Old Reliable was the site of small-scale underground mining for copper and molybdenum until the 1930s. Starting in the 1970s, an in-situ leach operation recovered some of the near-surface copper oxide mineralization, while the sulphide-hosted mineralization remains in place. During the 1990s, densely spaced vertical drilling led to resource definition to approximately 200 m below surface. Several of those drill holes end in mineralization, prompting recent drilling by the Company.

• Drill hole FCD-24-084 was collared approximately 100 m north of the Old Reliable breccia and drilled to the southwest, targeting the Old Reliable breccia below recently reported drill intercepts (Figure 1). The hole intersected Glory Hole volcanics to 243 m, hydrothermal breccia to 256 m, granodiorite to 300 m, porphyry to 339 m and granodiorite to the end of the hole. The hydrothermal breccia appears to be controlled by the contact between the volcanics and the granodiorite and is intensely quartz-sericite altered. Chalcopyrite occurs together with pyrite as breccia cement and in veinlets.

Next Steps

Phase III drilling continues with the current focus on near-surface mineralization, particularly in the American Eagle area.

To date, through the combined Phase II and Phase III drill programs, which are not included in the Mineral Resource Estimate ("MRE")¹, the Company has released results from 79 drill holes as follows:

• 51 drill holes were drilled on new targets that are entirely outside of the resource boundary;

• 21 drill holes were step-out holes testing extensions to the mineral resource; and

• 7 drill holes were drilled within the resource area, targeting expansion of the higher-grade cores.

A metallurgical program is nearing completion, testing copper recoveries from near-surface breccia and porphyry-style vein material. Samples were taken in the American Eagle area, including the Banjo breccia, as well as Area 51 and Old Reliable. The program focuses on confirming the potential to increase mill throughput and reduce processing cost though coarse particle flotation.

The Company has conducted over 30,000 metres of incremental drilling beyond the current MRE¹, with the new targets representing a significant opportunity to enhance the project value. The assay results for additional completed drill holes will be released as they are received, analyzed and confirmed by the Company.

The Company anticipates a data cut-off by the end of the first quarter of 2025 and the release of an updated technical study in the second half of 2025.

Figure 1: Plan View Showing Surface Geology and Location of the 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-24-091

Figure 3: Cross Section Showing Drill Holes FCD-24-081 and FCD-24-087

Note: Drill hole FCD-24-081 was terminated in strongly mineralized breccia due to mechanical issues. Mineralization remains open at depth and follow-up drilling is currently underway.

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

Note: The field of view represents an approximately 700-metre-thick slice. The open pit shell 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, July 25, 2024, August 21, 2024, September 24, 2024, and October 17, 2024, November 19, 2024, and January 8, 2025.

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-24-081	34.96	119.79	84.83	30	0.39	0.01	0.98	0.0005
including	77.00	116.60	39.60	14	0.68	0.02	1.56	0.0003
FCD-24-084	57.69	75.45	17.76	17	0.14	N/A	0.38	0.0014
And	234.42	253.90	19.48	12	0.36	N/A	1.58	0.0008
FCD-24-085	276.45	282.68	6.23	4	2.62	0.07	5.67	0.0115
FCD-24-087	24.66	63.68	39.02	25	0.28	N/A	1.04	0.0003
Including	48.58	59.71	11.13	7	0.67	N/A	2.32	0.0004
FCD-24-088	324.54	345.47	20.93	20	0.18	<0.01	0.62	0.0006
and	382.81	514.17	131.36	131	0.47	0.01	1.18	0.0017
including	394.29	462.42	68.13	68	0.65	0.01	1.51	0.0013
FCD-24-091	8.39	24.08	15.69	15	0.29	N/A	2.06	0.0007
and	108.54	138.28	29.74	29	0.30	N/A	0.80	0.0011
and	170.09	474.49	304.40	300	0.35	0.01	0.87	0.0014
Including	180.42	228.37	47.95	8	0.74	0.02	1.15	0.0011

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. N/A: Not analyzed.

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-24-081	548901	3623670	1219	000	70	Jailhouse	365.1	119.79
FCD-24-084	547789	3624171	1218	212	54	Old Reliable	1335.2	439.22
FCD-24-085	548905	3623670	1219	255	51	Courthouse	911.0	298.89
FCD-24-087	548906	3623672	1219	023	50	Jailhouse	992.2	325.53
FCD-24-088	548946	3623148	1295	351	55	American Eagle W	1649.0	541.02
FCD-24-091	549098	3623416	1307	038	80	Banjo W	1542.4	501.12

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 20^th sample. Coarse and fine blanks were inserted every 20^th 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").

Notes

¹ The Mineral Resource Estimate is 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, available on the Company's website at www.faradaycopper.com and on the Company's SEDAR+ profile at www.sedarplus.ca.

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.

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 ACCESS Newswire

FAQ

What are the latest copper grades reported in Faraday Copper's (CPPKF) Phase III drilling program?

The latest results include 304.40 metres at 0.35% copper and 0.87 g/t silver, including 47.95m at 0.74% copper in the American Eagle area.

When will Faraday Copper (CPPKF) release its updated technical study for the Copper Creek Project?

Faraday Copper plans to release the updated technical study in the second half of 2025, following a data cut-off at the end of the first quarter of 2025.

How much additional drilling has CPPKF completed beyond the current Mineral Resource Estimate?

The company has conducted over 30,000 metres of incremental drilling beyond the current Mineral Resource Estimate.

What is the size of the American Eagle area being explored by CPPKF?

The American Eagle area covers approximately 800 meters by 1,000 meters and hosts numerous prospective breccias and porphyries.