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Faraday Copper Corp. (TSX:FDY)(OTCQX:CPPKF) is a Canadian exploration company focused on advancing its flagship copper project in Arizona, U.S. The Copper Creek Project, one of the largest undeveloped copper projects in North America, shows significant exploration potential. With over 200,000 meters of historical drilling and ongoing Phase III programs, the Company aims to expand mineral resources, delineate high-grade zones, and explore new targets. Recent results from the Phase III program highlight the discovery of new mineralization zones at Area 51, Keel West, and Old Reliable, showcasing the project's geological diversity and mineralization potential. Faraday's management team and board of directors, with extensive mining experience, are well-positioned to drive the Company's key milestones and value creation. Faraday Copper trades on the Toronto Stock Exchange under the symbol 'FDY'.
Faraday Copper Corp. (TSX:FDY, OTCQX:CPPKF) has announced positive results from its ongoing Phase III drill program at the Copper Creek Project in Arizona. Two notable holes in the American Eagle area showed significant near-surface copper mineralization, with one intersecting 20.07 meters at 1.20% copper within 100.29 meters at 0.42% copper, and another 22.92 meters at 0.58% copper within 142.69 meters at 0.31% copper. Additionally, reconnaissance drilling at Area 51 confirmed prospectivity at depth, and several recently mapped breccias indicated potential mineralization.
Drilling in other areas, including Bald and Titan breccia, showed mixed results with some promising intervals. The company plans to continue its Phase III program focusing on expanding mineral resources and better delineating high-grade zones. To date, 32 holes have been completed, with results for 28 released, confirming the exploration potential in multiple areas within the project.
Faraday Copper Corp. announced the results of its Annual General Meeting held on June 13, 2024. All eight nominee directors listed in the Notice of Meeting were elected, including Russell Ball, Paul Harbidge, Randy Engel, Robert Doyle, Audra Walsh, Katherine Arnold, Alan Wilson, and Arndt Brettschneider. Additionally, the appointment of the Company's auditors was approved. A total of 85,569,181 shares were voted, representing 48.46% of the issued and outstanding common shares. Full details are available on SEDAR+.
Faraday Copper has closed a C$23 million bought deal financing, issuing 28,750,000 common shares at C$0.80 each. The offering saw full exercise of the underwriters' over-allotment option, led by Ventum Financial, Canaccord Genuity, and TD Securities. The shares are conditionally approved for listing on the TSX. The proceeds will fund the Copper Creek Project in Arizona and other corporate needs. Notably, Russell Ball, Chair of Faraday's Board, acquired 125,000 shares. The transaction was exempt from certain regulatory requirements due to its timing and expedited nature. The Copper Creek project is among North America's largest undeveloped copper sites.
Faraday Copper Corp. (OTCQX: CPPKF) announced positive results from five drill holes in Phase III of the Copper Creek Project in Arizona. Key highlights include:
- Drill hole FCD-24-056 at Area 51 intersected 42.05 meters at 0.41% copper, expanding known mineralization.
- Drill hole FCD-24-053 at Keel West intersected 51.45 meters at 0.50% copper and 1.39 grams per tonne silver, within a longer intercept of 186.90 meters at 0.32% copper.
- Drill hole FCD-24-054 at Old Reliable intersected 70.35 meters of 0.29% copper and 1.31 grams per tonne silver.
The company is focused on expanding mineral resources and delineating high-grade zones through continued drilling. CEO Paul Harbidge emphasized the project's exploration potential. The Phase III program has seen 27 drill holes completed to date, with 19 results released.
Faraday Copper Corp. reports new gold assay results from the Keel Zone at the Copper Creek Project, showing 1.34% copper and 0.28 g/t gold over 103.64 metres. The results support the potential for significant value through gold contributions in future Mineral Resource Estimates. Recent metallurgical tests indicate gold recoveries over 80% in copper concentrate. The Keel Zone exhibits high-grade mineralization, with bornite and chalcopyrite dominating the mineralization style. The company aims to expand the MRE by including gold data from other zones and continues drilling at American Eagle.
Faraday Copper Corp. reported financial results for Q1 2024, highlighting drilling approval at Copper Creek Project, positive metallurgical results, and new mineralized breccias. Ongoing exploration targets and upcoming milestones were noted. The Phase III drill program aims to expand mineral resources and delineate high-grade zones. The financials showed a net loss of $5.5M, $8.75M cash on hand, and ongoing reliance on equity financing.
Faraday Copper received approval from the U.S. Bureau of Land Management for drilling at its Copper Creek Project in Arizona. The approval allows drilling on eleven pads targeting high-grade mineralization. The American Eagle area will focus on near-surface breccia-hosted mineralization, while the Rum area targets porphyry-hosted mineralization. Earthworks contractors will prepare drill pads, with the potential for additional drill rigs. The project has significant exploration potential and is well-funded.
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