17:15:43 EDT Fri 09 May 2025
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Faraday Copper Corp
Symbol FDY
Shares Issued 176,585,575
Close 2024-05-01 C$ 0.70
Market Cap C$ 123,609,903
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Faraday receives BLM approval for Copper Creek NOI

2024-05-02 10:41 ET - News Release

Mr. Paul Harbidge reports

FARADAY COPPER RECEIVES APPROVAL FROM THE BUREAU OF LAND MANAGEMENT FOR ITS NOTICE OF INTENT TO CONDUCT DRILLING AT ITS COPPER CREEK PROJECT IN ARIZONA

Faraday Copper Corp. has received approval from the U.S. Bureau of Land Management (BLM) for its notice of intent (NOI) to conduct drilling on 11 drill pads at its Copper Creek project in Arizona.

Paul Harbidge, president and chief executive officer, commented: "Approval of the NOI is significant as it allows us to drill high-priority targets above the American Eagle porphyry and in the Rum area. This drilling has the potential to unlock significant value by adding high-grade, near-surface mineralization to the current resource. We are currently evaluating bringing additional drill rigs to the project."

Highlights:

  • Nine drill pads permitted in the American Eagle area, targeting near-surface breccia-hosted mineralization;
  • Two drill pads permitted in the Rum area, targeting porphyry-hosted mineralization exposed at surface;
  • Earthworks contractors are being mobilized to re-establish road access and prepare drill pads.

American Eagle area overview

The American Eagle area includes numerous breccias mapped at surface. Historically, this area was drilled by near-vertical holes to define the American Eagle porphyry mineralization at depth. Near-surface breccia-hosted mineralization remains largely untested. Analysis of surface outcrops by portable X-ray fluorescence analyzer (pXRF) returned elevated copper values which, together with copper oxide staining, was used to prioritize drill targets.

Rum area overview

The Rum area is located approximately 3.5 kilometres northwest of the Amerian Eagle area. It includes hydrothermal breccias and granodiorite porphyry intruding Glory Hole volcanics. Copper oxide mineralization is present in porphyry outcrops with a historical drill hole (R-1-1X) intersecting near-surface, high-grade mineralization of 48.77 metres at a grade of 1.07 per cent copper from surface (true width is unknown due to the orientation of the drill hole). The drill pads allow testing the extent of mineralization as well as targeting untested breccias in this area.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Faraday's vice-president, exploration, Dr. Thomas Bissig, PGeo, who is a qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Faraday Copper Corp.

Faraday Copper is a Canadian exploration company focused on advancing its flagship copper project in Arizona, United States. 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 financed 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 Toronto Stock Exchange under the symbol FDY.

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