VANCOUVER, BC / ACCESS Newswire / May 15, 2025 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY)(OTCQX:CPPKF) is pleased to announce the results of seven drill holes from its Phase III drill program at the Copper Creek Project, located in Arizona ("Copper Creek"). These holes targeted near-surface supergene copper mineralization with the goal of better understanding the distribution of oxide mineralization. Five holes were drilled near the Globe breccia and two near the Copper Giant breccia.
Paul Harbidge, President and CEO, commented, "These results demonstrate the continuity of supergene mineralization within the first 40 metres from surface. We have confirmed the presence of an enrichment blanket with high copper grades at Globe and expanded copper oxide mineralization to the north. Historically, there has been limited drilling targeting copper oxide mineralization across the deposit, and we see the potential to significantly expand the near-surface oxide resource through additional drilling, ultimately producing copper cathode early in the project life to significantly enhance shareholder returns."
Highlights
Expanded near-surface supergene oxide and secondary copper sulphide mineralization near the Globe and Copper Giant breccias.
At the Globe breccia, intersected 10.08 metres ("m") at 3.62% copper from 65.92 m (approximately 30 m below surface) in drill hole FCD-25-107. This intercept corresponds to a secondary chalcocite enrichment zone.
North of the Globe breccia, intersected 38.90 m at 0.51% copper from 3.55 m in drill hole FCD-25-111. Copper in this intercept is largely contained in oxide minerals such as malachite and chrysocolla.
At the Copper Giant breccia, intersected 27.46 m at 0.50% copper from 6.10 m in drill hole FCD-25-104. This intercept includes near-surface copper oxide, transitioning to copper sulphide mineralization from 21 m downhole.
(For true width information see Table 1)
Zach Allwright, VP Projects and Evaluations, commented, "The opportunity to delineate additional near-surface oxide mineralization in future drill programs is highly encouraging. These high-grade oxide domains have demonstrated excellent recoveries via heap leaching (refer to news release dated February 26, 2024) and offer the potential to optimize the project staging with high-margin cathode production upfront as part of the initial pre-strip, prior to transitioning to copper production from sulphides. I look forward to further exploration to target near-surface oxide resource growth in subsequent drill programs."
Copper Oxide and Enrichment Zones
Seven short holes were drilled near the Globe and Copper Giant breccias to better understand the distribution of oxide mineralization and enrichment zones. Historically, there has been limited drilling targeting copper oxide across the deposit and there is the potential to expand the near-surface oxide resource as the project advances.
Copper oxide mineralization is a product of weathering of primary copper mineralization and generally occurs within the first 40 m from surface at Copper Creek. Copper oxide minerals such as malachite, chrysocolla or tenorite can be processed through heap-leaching (refer to news release dated February 26, 2024), which offers the potential to produce copper cathode early in the mine life and with low capital expenditure. Near the base of the oxide zone, secondary copper sulphides such as chalcocite precipitate and can form an enrichment blanket consisting of high-grade copper mineralization.
Drill hole FCD-25-104 was collared north of Copper Giant and drilled to the west. It intersected hydrothermal breccia from surface to 32 m, and Glory Hole volcanics to the end of the hole except for two granodiorite dykes at 60 m to 62 m and 75 m to 77 m. Alteration is sericite-kaolinite affecting the breccia domain and chlorite-biotite in the volcanics with some magnetite and potassium feldspar near the breccia contact. Copper mineralization occurs as oxide, including chrysocolla and tenorite, in the top 20 m of the hole transitioning into a domain with chalcocite and relict chalcopyrite as well as chrysocolla and tenorite.
Drill hole FCD-25-106 was collared northwest of Copper Giant and drilled to the northwest. The hole intersected Glory Hole volcanics with granodiorite dykes from 12 m to 16 m, from 24 m to 26 m and from 84 m to 86 m. Fine grained secondary biotite with variable amounts of chlorite, actinolite and carbonate make up the alteration of the volcanics. Mineralization, consisting of chalcopyrite with pyrite, is limited to localized porphyry style veins from 70 m to 72 m and from 117 m to 123 m downhole.
Drill hole FCD-25-107 was collared west of the Globe breccia and drilled to the east. After 12 m of volcanics the hole entered hydrothermal breccia to 77 m and went back into volcanics to the end of the hole. Alteration associated with the breccia is sericitic with kaolinite being significant below 51 m. Primary sulphides are largely oxidized to goethite and hematite as well as subordinate jarosite to a depth of 68 m. Copper mineralization occurs as malachite, chrysocolla and tenorite near the top of the hole whereas chalcocite together with chrysocolla, tenorite and cuprite make up the high-grade mineralization starting at 66 m. The breccia interval is characterized by elevated silver and molybdenum.
Drill hole FCD-25-109 was collared west of the Globe breccia and drilled to the southeast. It intersected hydrothermal breccia from 10 m to 57 m and Glory Hole volcanics at the top and bottom of the hole. Alteration associated with breccia is sericitic. Primary sulphides are oxidized to jarosite, goethite and lesser hematite to a depth of 58 m. Copper mineralization occurs as malachite, chrysocolla and tenorite. The breccia interval is characterized by elevated silver and molybdenum.
Drill hole FCD-25-110 was collared west of the Globe breccia and drilled to the north. For the first 3 m, Glory Hole volcanics were intersected, followed by locally intensely fractured granodiorite to 62 m. Volcanics make up the remainder. The granodiorite is sericite altered. Sulphides are largely oxidized to goethite and hematite to 53 m.
Drill hole FCD-25-111 was collared north of the Glory Hole breccia and was drilled to the southeast. It intersected Glory Hole volcanics for its entire length. Fine-grained biotite alteration overprinted by minor sericite and kaolinite is present throughout. Goethite and hematite coat fracture surfaces together with copper oxide minerals that include malachite, chrysocolla and tenorite. Chalcocite, native copper and tenorite occur from 41 m to 43 m.
Drill hole FCD-25-112 was collared north of the Glory Hole breccia and was drilled to the north. It intersected Glory Hole volcanics for its entire length. Fine-grained biotite alteration overprinted by minor sericite is observed from 18 m to 45 m. Goethite and hematite coat fracture surfaces to a depth of approximately 40 m. Copper mineralization is contained in oxide minerals including chrysocolla and tenorite in the top 13 m of the hole.
Next Steps
Phase III drilling commenced in October 2023 and concluded in mid-April 2025.
The Company has completed nearly 40,000 metres of incremental drilling beyond the current Mineral Resource Estimate ("MRE")1, which represents a significant opportunity to enhance the project value by increasing the open pit mineral resource.
Remaining assay results from nine drill holes are expected from the American Eagle area and district exploration targets and will be released as they are received, analyzed and confirmed by the Company.
The Company anticipates the release of an updated technical study and mineral resource estimate near the end of the third quarter of 2025.
Figure 1: Plan View Showing Surface Geology and Location of the Drill Holes
Note: The open pit shell is based on constraints used in the MRE as presented in the Copper Creek Technical Report1.
Figure 2: Cross Section Showing Drill Holes FCD-25-111 and FCD-25-112
Table 1: Selected Drill Results
Drill Hole ID | From | To | Length | True | Cu | Au | Ag | Mo |
| (m) | (m) | (m) | (m) | (%) | (g/t) | (g/t) | (%) |
FCD-25-104 | 6.10 | 33.56 | 27.46 | 18 | 0.50 | 0.05 | 1.48 | 0.0010 |
FCD-25-107 | 7.68 | 12.00 | 4.32 | 4 | 0.75 | N/A | 0.42 | 0.0003 |
and | 65.92 | 76.00 | 10.08 | 7 | 3.62 | 0.02 | 6.02 | 0.0047 |
FCD-25-109 | 60.44 | 71.14 | 10.70 | 8 | 0.57 | N/A | 0.39 | 0.0009 |
FCD-25-111 | 3.55 | 42.45 | 38.90 | 28 | 0.51 | N/A | 0.15 | 0.0011 |
including | 9.14 | 18.75 | 9.61 | 7 | 0.84 | N/A | 0.12 | 0.0012 |
FCD-25-112 | 0.00 | 12.83 | 12.83 | 9 | 0.16 | N/A | 0.20 | 0.0022 |
FCD-25-106 | No significant results | |||||||
FCD-25-110 | No significant results | |||||||
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-25-104 | 548142 | 3624821 | 1,235 | 300 | 50 | Copper Giant North | 254.8 | 83.58 |
FCD-25-106 | 548066 | 3624780 | 1,225 | 306 | 45 | Copper Giant North | 437.4 | 143.50 |
FCD-25-107 | 547736 | 3624780 | 1,281 | 075 | 45 | Globe oxide | 260.4 | 85.44 |
FCD-25-109 | 547736 | 3624780 | 1,281 | 111 | 45 | Globe oxide | 294.1 | 96.50 |
FCD-25-110 | 547736 | 3624780 | 1,281 | 337 | 45 | Globe oxide | 219.9 | 72.15 |
FCD-25-111 | 547677 | 3624910 | 1,275 | 140 | 45 | Globe oxide | 232.6 | 76.32 |
FCD-25-112 | 547677 | 3624910 | 1,275 | 350 | 45 | Globe oxide | 165.4 | 54.25 |
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. Copper mineralized samples were also analyzed for acid and cyanide soluble copper. 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").
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 an 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
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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 timing of the MRE and PEA.
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:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/faraday-copper-intersects-near-surface-supergene-copper-mineralization-at-the-glo-1027500
