Faraday Copper (TSX:FDY) has reported new assay results from three drill holes at its Copper Creek Project in Arizona. The company is targeting the potential expansion of the open pit mineral resource with these holes and has seen significant results. Faraday’s Copper Creek Project is one of the largest undeveloped copper projects on the continent.
It contains both open pit and bulk underground mining potential, for which the company is well-funded to deliver on. Faraday is composed of an experienced management team and board of directors that bring a range of expertise to the project and the ongoing mineral resource expansion.
To-date, the company has completed 16 drill holes at the project with results for nine of the drill holes already released. Results are being released as they are received, analyzed and confirmed by Faraday.
Paul Harbidge, President and CEO of Faraday Copper, commented in a press release: “This is one of the most exciting results from our Phase II drill program as it continues to demonstrate the potential to expand the open pit mineral resource. Importantly, mineralization remains open. This result is extremely encouraging for the growth potential of the Copper Creek project.”
Highlights from the results are as follows:
Drill hole FCD-22-012 was collared west of the Copper Giant breccia and drilled to the northeast. The mineralization occurs as chalcopyrite breccia cement within Copper Giant and highlights that the copper grade, continuity and volume of this mineralized domain may be significantly larger than the historic drilling suggested. Mineralization remains open at depth and to the southwest (Figures 1 and 2).
Drill hole FCD-22-015 was collared approximately 120 m to the northeast from drill hole FCD-22-014 and is located entirely outside of the MRE. The hole was drilled to the north into Glory Hole volcanics and granodiorite porphyry, where no previous drill data existed. The hole intersected high-grade, breccia-hosted mineralization from 5.64 m to 13.96 m. In addition, 9.64 m of copper mineralization was intersected within a wide sericite alteration halo between 75 m and the end of the hole at 156.60 m. Sericite alteration can be associated with high-grade mineralization in the district and this result merits additional drill testing.
Drill hole FCD-22-014 was collared at the same location as FCD-22-012 but drilled to the north. This hole was drilled into the Glory Hole volcanic host rock where no previous drill data existed. While no significant copper mineralization was identified, portions of this hole have intersected potassic and sericite alteration, suggesting that the hydrothermal system continues to the north from the current extent of drilling and, therefore, it remains a drill target.
Table 1: Selected Drill Results from Copper Creek
|Drill Hole ID||From||To||Length||True Width||Cu||Mo||Au||Ag|
|FCD-22-014||No significant intercepts|
Notes: All intercepts are reported as downhole drill widths. Due to the insufficiently constrained geometry and irregular shape of mineralized domains, true widths are approximate.
Table 2: Collar Locations from the Drill Holes Reported Herein
|Drill Hole ID||Easting||Northing||Elevation||Azimuth||Dip||Target||Depth||Depth|
|FCD-22-015||548143||3624819||1235||010||-45||North of Copper Giant||477.6||156.60|
|FCD-22-014||548060||3624729||1226||010||-45||North of Copper Giant||467.6||153.31|
Note: Coordinates are given as World Geodetic System 84, Universal Transverse Mercator Zone 12 north (WGS84, UTM12N).
Phase II drilling continues and is focussed on three objectives:
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