Faraday Copper Announces New Breccia Discovery at Area 51, Intersecting 1.29% Copper over 11.36 Meters Within 45.75 Meters at 0.48% Copper
NEWS RELEASE March 4, 2024
Faraday Copper Announces New Breccia Discovery at Area 51,
Intersecting 1.29% Copper over 11.36 Meters
Within 45.75 Meters at 0.48% Copper
March 4, 2024 – Vancouver, British Columbia – Faraday Copper Corp. (“Faraday” or the “Company”)
(TSX:FDY) (OTCQX:CPPKF) is pleased to announce the results of an additional four drill holes from its
Phase III program at the Copper Creek Project, located in Arizona, U.S. (“Copper Creek”). Two of the holes
were drilled at the Area 51 target to test additional near-surface breccias as a follow -up to the recent
Starship breccia discovery (announced on January 16, 2024 ) and two holes were drilled in the Copper
Giant area to test resource expansion potential.
Paul Harbidge, President and CEO, commented “I am excited with the expansion potential of Area 51 which,
prior to Faraday, had never been drill tested. The results have identified a second, near-surface mineralized
breccia called Eclipse.”
“Area 51 is a 400-metre by 400-metre target represented by a cluster of nine mapped breccias that are highly
prospective. The target remains open in all directions and is rapidly turning into a significant new discovery
at Copper Creek. The team is gaining a better interpretation of the geology in Area 51 and further drilling is
planned as part of the current Phase III drilling program.”
Highlights
▪ Intersected 45.75 metres (“m”) at 0.48% copper, 0.02 grams per tonne (“g/t”) gold and 2.90 g/t silver
from 43.40 m, including 11.36 m at 1.29% copper, 0.05 g/t gold and 8.89 g/t silver from 77.79 m in
drill hole FCD-24-050 at the previously undrilled Eclipse breccia (Figure 1 and 2).
▪ Intersected 54.21 m at 0.36% copper, 0.04 g/t gold and 2.53 g/t silver from 35.48 m, including 17.06
m at 0.77% copper, 0.06 g/t gold and 4.21 g/t silver from 35.48 m in drill hole FCD-23-043, confirming
the potential for a near-surface, supergene enrichment blanket in the Starship breccia.
▪ These results from the Eclipse breccia and the adjacent Starship breccia remain open in all directions
and Area 51 is becoming a significant new discovery on the project.
▪ Sulphide mineralogy and trace element geochemistry, together with geophysical evidence, suggest
that the drill holes intercepted a shallow part of the mineral system, which is indicative of greater
porphyry potential at depth.
(For true width information see Table 1.)
Area 51: Area 51 (Figure 1) was identified as highly prospective by integrating a irborne versatile time
domain electromagnetic (“VTEM”) data and short wave infrared spectral data together with geological
mapping and sampling. Area 51 encompasses a porphyry intrusion with nine mapped breccia bodies over
an area of approximately 400 m by 400 m, including Starship and Eclipse. The breccias are interpreted to
have been emplaced in the hanging wall of the northwest trending Holy Joe thrust fault, which brought
Proterozoic metamorphic rocks in contact with younger sedimentary rock units to the east of Area 51. This
fault is also thought to have controlled the emplacement of the Paleocene Glory Hole volcanics and Copper
Creek granodiorite which host the mineralization at Copper Creek.
Page 2
Drill hole FCD-24-050 was collared immediately northeast of the Eclipse breccia and drilled to the
southwest. The mineralization includes a zone of chalcocite within hydrothermal breccia and
volcanic host rocks. The highest grades are associated with chalcopyrite -pyrite and subordinate
chalcocite cement in hydrothermal breccia cross-cutting granodiorite (Figures 1, 2 and 3). The hole
intersected mostly hydrothermal breccia from approximately 43 m to 213 m. Alteration within and
near breccia is sericitic, which is associated with high -grade copper mineralization elsewhere on
the property.
Drill hole FCD -23-043 was collared at the same location as drill hole FCD -24-050 but drilled
steeply to the North into the Starship breccia . The mineralization occurs as chalcopyrite and
chalcocite cement within a hydrothermal breccia, which also includes pyrite and quartz. The hole
intersected over 65 m of hydrothermal breccia (Figures 1 and 2). The mineralization and alteration
suggest that the intersection is in the upper part of the mineralized system and includes a zone of
supergene enrichment which remains open laterally.
Copper Giant: Two holes were drilled near the Copper Giant breccia in proximity to the current mineral
resource (Figure 1) . The holes were aimed at testing resou rce expansion potential and to provide
geotechnical information for future studies.
Drill hole FCD -24-045 was collared east of the Copper Giant breccia and was drilled to the
southwest, to test potential depth extensions of the Copper Knight and Copper Prince breccias.
The hole intersected mainly igneous cemented breccia from surface to approximately 140 m with
the remainder being in granodiorite and porphyry. Dominant alteration is potassium feldspar and
biotite with local occurrence of chalcopyrite-quartz veins. Locally, sericite-clay overprint is observed
near the top and the bottom of the hole.
Drill hole FCD -24-046 was collared at the same location as FCD -24-045 but drilled to the
northeast. It tested the potential for oxide copper mineralization at the Hilltop breccia. The hole
intersected igneous cemented breccia from the start of the hole to approximately 40 m depth and
from 67 m to 93 m with the remainder of the hole in granodiorite. The dominant alteration in the
hole is potassium feldspar and biotite with local occurrence of magnetite -specular hematite. The
hole intersected oxide copper mineralization over 17.27 m from 14.68 m downhole depth.
Page 3
Figure 1: Plan View Showing Surface Geology and Location of Drill Holes
Page 4
Figure 2: Cross Section Showing Drill Holes FCD-23-043 and FCD-24-050
Figure 3: A typical core sample from drill hole FCD-24-050 at the Eclipse Breccia (84.2 m to 84.6 m)
Page 5
Table 1: Selected Drill Results from Copper Creek
Drill Hole ID From To Length True
Width Cu Au Ag Mo
(m) (m) (m) (m) (%) (g/t) (g/t) (%)
FCD-24-050 43.40 89.15 45.75 30 0.48 0.02 2.90 0.0002
Including 77.79 89.15 11.36 7 1.29 0.05 8.89 0.0003
FCD-23-043 35.48 89.69 54.21 54 0.36 0.04 2.53 0.0004
Including 35.48 46.69 17.06 17 0.77 0.06 4.21 0.0002
FCD-24-046 14.68 31.95 17.27 12 0.15 N/A 0.40 0.0004
FCD-24-045 No Significant intercepts
Notes: All intercepts are reported as downhole drill widths. True widths are approximate due to the insufficiently
constrained geometry and irregular shape of mineralized domains which include primary breccia hosted mineralization
and supergene enrichment zones.
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-24-050 549747 3622351 1390 255 55 Eclipse Breccia
at Area 51 703.0 230.64
FCD-23-043 549753 3622352 1372 015 83
Starship
Breccia, at
Area 51
268.1 120.76
FCD-24-045 548363 3624651 1384 245 52 Copper Knight 1828.4 599.88
FCD-24-046 548363 3624651 1347 040 45 Hilltop Breccia,
at Copper Giant 339.9 111.53
Note: Coordinates are given as World Geodetic System 84, Universal Transverse Mercator Zone 12 north (WGS84,
UTM12N).
Next Steps
Phase III drilling continues and is focussed on three objectives:
▪ Reconnaissance drilling on new targets;
▪ Expanding the MRE; and
▪ Better delineating high-grade mineralized zones.
As part of the Phase III program , fifteen drill holes have been completed and results for ten have been
released. Eight holes were drilled in Area 51, three in the Copper Prince-Copper Giant area, three in the
Bald-American Eagle area and one near Old Reliable. Additional holes are currently being designed to (i)
test further breccias in Area 51, and (ii) to test geophysical anomalies at depth near and below Old Reliable
and Mammoth.
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
Page 6
ICP-MS multielement package and an ICP-AES method for high-grade copper samples. 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 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”).
About Faraday Copper
Faraday Copper is a Canadian 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 open pit and bulk underground mining potential. The Company is well -funded to deliver on
its key milestones and benefits from a management team and board of directors with senior mini ng
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: [email protected]
Website: www.faradaycopper.com
To receive news releases by e-mail, please register using the Faraday website at www.faradaycopper.com.
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 res ults,
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.
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 capi tal
requirements; price volatility in the spot and forward markets for commodities; fluctuations in rates of excha nge; 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 mi neral claims
or property or contests over claims to mineral properties; unexpected delays and costs inhe rent 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 require ments, 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
Page 7
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.
.