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. 

Figure 1: Plan View Showing Drill Holes Reported. Source: Faraday Copper

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.”

Figure 2: Cross Section Showing Drill Hole FCD-22-012. Source: Faraday Copper

Highlights from the results are as follows:

  • Intersected 100.12 metres (“m”) at 0.69% copper and 1.15 grams per tonne (“g/t”) silver from 34.88 m at the Copper Giant breccia in drill hole FCD-22-012. Approximately 85 m of this intersection are outside the pit shell used to constrain the Mineral Resource Estimate (“MRE”) and provide the potential for an increase to the current open pit resource (Table 1, Figures 1, 2). Mineralization remains open at depth and to the southwest; and
  • Intersected 8.32 m at 1.62% copper and 2.54 g/t silver from 5.64 m, and 9.64 m at 0.31% copper and 1.15 g/t silver from 110.55 m in drill hole FCD-22-015. Both intersections are located outside of the MRE and demonstrate that the area north of Copper Giant remains prospective (Figure 1).

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
  (m) (m) (m) (m) (%) (ppm) (g/t) (g/t)
FCD-22-012 34.88 135.00 100.12 71 0.69 25 0.04 1.15
Including 120.00 133.23 13.23 10 1.13 44 0.07 2.10
FCD-22-015 5.64 13.96 8.32 8 1.62 74 N/A 2.54
and 110.55 120.18 9.64 9 0.31 18 N/A 1.15
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
      (m) (°) (°)   (ft) (m)
FCD-22-012 548060 624729 1226 055 -55 Copper Giant 518.7 170.08
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
            Total 1463.9 479.99

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

Next Steps

Phase II drilling continues and is focussed on three objectives:

  • Reconnaissance drilling on new targets;
  • Expanding the MRE; and
  • Better delineating high-grade mineralized zones.



The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

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