Faraday Copper Delivers Geological Model and Exploration Plan for the Copper Creek Project
NEWS RELEASE May 12, 2022
Faraday Copper Delivers Geological Model and Exploration Plan for
the Copper Creek Project
May 12, 2022 – Vancouver, British Columbia – Faraday Copper Corp. (“Faraday” or the “Company”)
(CSE:FDY) is pleased to provide a summary of its completed geological model for the Copper Creek
project, located in Arizona, U.S. (“Copper Creek”) and to provide an overview of the exploration plan for the
remainder of 2022 and early 2023.
“The Company has reached another milestone with the delivery of an initial geological model, which
provides a strong foundation for an updated mineral resource estimate for the Copper Creek project
expected later this year. The model is supported by the integration of numerous empirical data sets,”
commented Paul Harbidge, President and CEO. “We’re also very pleased to report our plans to expand the
mineral footprint of the resources by improving the drill coverage in areas where drill data is limited and
developing a portfolio of targets for future testing.”
Highlights
▪ Completed a geological model for the Copper Creek breccia and early halo style porphyry copper-
molybdenum-silver (“Cu-Mo-Ag”) deposit which provides the foundation for an updated mineral
resource estimate due in Q3 2022;
▪ Ongoing sampling of previously unsampled drill core to increase data coverage for the Copper
Creek mineralization, which may potentially increase the mineral footprint of the project;
▪ Increased Phase 1 diamond drill program from 5,000 metres (“m”) to 6,000 m, with 6 drill holes
completed to date for a total of 3,350 m; analytical results are pending;
▪ Planned Phase 2 drill program to commence in Q4 2022, focused on increasing drill coverage in
areas with limited drill data to obtain better information on the geometry and continuity of
mineralized zones, breccias and porphyry intrusions; and
▪ Initiated a generative study to define and prioritize a portfolio of targets for future testing in an
underexplored district.
Summary
In this news release, we provide details on the work undertaken to develop a three-dimensional geological
model as a basis for an updated Mineral Resource Estimate (“MRE”) for the Copper Creek breccia and
early halo style porphyry Cu-Mo-Ag deposit (Figure 1). The model integrated data including core logging
information, petrography, age dating, multi-element geochemistry, spectral data and geophysical data.
To generate the geological model, we re-logged approximately 15,000 m of historic drill core and
incorporated observations from Faraday’s expanded 6,000 m diamond drill program. In addition, density,
magnetic susceptibility and spectral data were collected systematically. Previously unsampled core from
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historic drilling was sampled and selected holes are being re-analyzed for copper and 47 additional
elements. New holes drilled in 2022 will also be analyzed for the same element suite. All analytical results
are expected in the second half of 2022.
▪ Copper Creek is a Cu-Mo-Ag early halo porphyry system (Proffett, 2009) which is characteristic of
deeply emplaced porphyry systems, formed at crustal depths of 5 kilometres (“km”) to 6 km.
▪ Mineralization is largely hosted in the 62-million-year-old (Laramide age) Copper Creek
granodiorite, intruding slightly older andesitic to dacitic Glory Hole Volcanics. The Copper Creek
intrusion is dominantly calc-alkaline granodiorite with a dioritic border phase and a roughly tabular
shallowly west-dipping monzogranitic domain at depth. The Copper Creek granodiorite is intruded
by several porphyry phases which generally occur as narrow dykes and become increasingly more
mafic over time. Only the volumetrically minor late porphyry phases are universally less mineralized
than the precursor rocks.
▪ Alteration composed of muscovite, biotite and potassium feldspar is largely confined to the early
vein halos. Intense quartz-sericite alteration is associated with breccias.
▪ Mineralization is associated with breccias, magmatic cupola zones and subvertical and
subhorizontal early halo veins. Copper bearing minerals are zoned from pyrite greater than
chalcopyrite at shallow levels, grading into chalcopyrite dominant and chalcopyrite-bornite at depth.
Sulphides are disseminated within vein halos and occur as fracture infill. Copper oxide
mineralization is confined to the top 20 m from surface.
▪ The Copper Creek district also contains over 400 mapped outcrops of magmatic -hydrothermal
breccias. Some of these host high-grade Cu-Mo-Ag mineralization, which was the focus of modest
historic underground production. The breccia hosted mineralization occu rs near surface and has
the potential for open pit exploitation. The breccias occur in two broad northwest oriented trends:
the western and eastern breccias. Most of the known mineralization is confined to the eastern
breccias. The current geological model has incorporated only 7 breccias (Mammoth, Childs
Adwinkle, Old Reliable, Copper Prince, Copper Giant, Glory Hole , Holly ) which have sufficient
drilling to be used in the updated MRE.
▪ Mammoth-Keel is the largest known breccia system on the project. Mammoth, blind to surface, is
a coarse breccia with boulder size granodiorite clasts cemented by coarse euhedral quartz and
later pyrite and chalcopyrite. The Keel zone likely represents the magmatic cupola into which
mineralizing fluids were focused and from where they ascended to Mammoth. The Keel has a
bornite-chalcopyrite-molybdenite sulphide assemblage and mineralization occurs in miarolitic
cavities and veins. Between Mammoth and Keel, there is a sulphide-poor zone with intense sericite-
carbonate-pyrite alteration.
▪ No major post -mineral deformation has occurred other than an approximate 10-degree tilt to the
west or northwest.
Next Steps
The learnings from this initial geological model and observations from current drilling will provide the
framework for the Phase 2 , 10,000 m diamond drilling program, scheduled to commence in Q4 2022. In
addition, a generative study is underway to provide a portfolio of targets for future testing , in a district that
remains underexplored.
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Figure 1: Oblique view of the geological model for the Copper Creek project, Arizona, U.S. Section plane
in the front of the image is northwest-southeast oriented.
Copper Creek Re-Logging Program
Copper Creek has a wealth of historic data and drill core. Over 200,000 m were drilled since 1914 and
approximately 95% of the historic core is stored at the Company’s San Manuel facility, Arizona. The core
re-logging program was aimed at gaining an overview of mineralization styles, verifying historic data and
refining geological interpretations.
Methodology
In addition to visual re -logging of the core, we also collected empirical data (Figure 2) , which includes
physical property measurements (magnetic susceptibility, density) and spectral mineralogy using a
Terraspec Halo instrument . This spectral data was interpreted with the Aisiris cloud -based artificial
intelligence system. Previously unsampled core and archived pulps are being analyzed to include copper
and 47 additional elements by a 4 -acid digestion method which provides critical data to assist with
lithological, alteration and mineralization modelling in the future. Analytical results are pending.
The geological model for alteration and lithologies also relies on detailed logging by the previous operator,
Redhawk Resources, Inc., (“Redhawk”), and well recognized expert consultants, on holes drilled between
2006 and 2012, largely in the American Eagle zone. Selected holes from the American Eagle zone were
re-logged during the current program and information captured in historic logs has been audited. Multi-
element geochemical data are available for a majority of the holes in the American Eagle zone and those
were used to establish batholith zonation and alteration modelling. The data collected by Redhawk has not
previously been incorporated into a formal three-dimensional geological model and previous mineral
resource estimates were based on grade interpolation without consideration for geologic boundaries.
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Interpretation of geology was hand drawn on cross sections, where appropriate, and together with the other
technical datasets, was integrated into Seequent’s Leapfrog software to generate the three-dimensional
model.
Figure 2: Data collection in the San Manuel facility at the Copper Creek project, Arizona, U.S.
A. The Copper Creek geology team examining and discussing new core.
B. Collection of magnetic susceptibility data (foreground) and Terraspec data (background).
C. Geologists hand drawing geological interpretations on cross sections.
Intrusive Rocks
The Copper Creek district is dominated by the 62-million-year-old Copper Creek batholith intruding the 63-
million-year-old Glory Hole Volcanics. It intrudes Proterozoic metamorphic rocks in the eastern part of the
district. The batholith is zoned with a gently west to northwest dipping compositional layering. The margin,
near the contact to the hosting Glory Hole Volcanics has a diorite composition whereas the bulk of the
intrusion is granodioritic. A distinct tabular monzogranitic domain can be delineated at depth, based on its
immobile trace element signature and felsic, relatively coarse-grained appearance (Figure 3 and Figure 4).
A series of narrow porphyry dykes or plugs intrude the batholith.
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Figure 3: Example of a downhole plot (drill hole RAE-11-057) of the thorium/scandium (“Th/Sc”) ratio used
to delineate compositional variation in the Copper Creek batholith. Core photographs illustrate subtle but
discernable petrographic variations.
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Figure 4: Northwest to southeast cross section showing the batholith zonation modelled based on Th/Sc
ratio. The highest drill hole copper assay grades are located above the felsic domains in the batholith.
Principal Breccias
After the emplacement of the Copper Creek batholith and concurrently with the intrusion of some of the
later porphyry phases, breccias, for which the district is renown ed, were emplaced. The breccia textures
and mineralogy vary between individual breccia bodies, which is a reflection of their relative emplacement
depth, and proximity to the magmatic source (Figure 5). In general, the breccias experienced limited clast
rotation and milling, and rock-flour matrix is largely absent. Although breccias have complex geometries in
detail, they are vertically extensive. Diameters at surface range from 90 m to 430 m. There is no indication
that the breccias breached the surface as d iatremes at the time of emplacement since those would have
experienced significant clast rounding and have a clastic matrix. The general characteristics of the main
breccia bodies are summarized below.
Mammoth-Keel System
The Mammoth breccia, blind to surface, is a coarse-grained breccia characterized by boulder-sized clasts,
cemented by euhedral quartz and coarse pyrite and chalcopyrite. Significant open space remains, and it is
classified as a hydrothermal breccia. At depth, it transitions into quartz -sericite-pyrite altered granodiorite
with occasional coarse quartz veins. The Keel zone is located below the Mammoth breccia and contains
intense quartz stockwork grading into a magmatic cupola zone with miarolitic cavities in granodiorite at
depth. Dominant alteration is potassium feldspar and biotite, and mineralization is intimately associated
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with a granodiorite porphyry phase. Sulphides are vertically zoned from pyrite-chalcopyrite in the Mammoth
breccia to chalcopyrite greater than pyrite in the upper part of Keel , grading into bornite -chalcopyrite-
molybdenite in the deeper zone of Keel. The Keel-Mammoth system is interpreted as a vertically continuous
mineralized zone. Variations in mineralization and alteration are a result of changes in temperature and
pressure gradients. The dimension of the entire system is 430 m by 270 m with a known vertical extent of
1,450 m.
Childs Adwinkle Breccia
Childs Adwinkle is a north-northwest elongated breccia system, from which approximately 300,000 tonnes
of copper were produced in the 1930s. The Childs Adwinkle breccia consists of angular fragments of altered
Copper Creek granodiorite with a cement of chlorite-quartz-sulphide-orthoclase. The breccia locally has the
appearance of a brecciated pegmatite. D imensions of the fragments range from 2 centimetres (“cm”) to 4
m in size. Principal sulphide mineralization is chalcopyrite -bornite-molybdenite. Minor tennantite has also
been noted. The dimension of the Childs Adwinkle breccia is 300 m by 140 m with a known vertical extent
of 560 m.
Copper Prince Breccia
The C opper Prince breccia consists of two discrete breccia bodies , characterized as intrusive clast -
dominated, crackle breccia and cement-rich breccia associated with sericite-quartz alteration, grading into
potassium-feldspar alteration at depth. Copper oxide mineralization extends down to 20 m below surface,
followed by a mixed oxide and sulphide zone to 40 m, after which chalcopyrite is the dominant sulphide.
The dimension of the Copper Prince breccia is 200 m by 150 m with a known vertical extent of 320 m.
Copper Giant Breccia
Copper Giant is a polymictic breccia with angular clasts of hornfelsed Glory Hole Volcanics as well as
granodiorite and granodiorite porphyry. There is minimal rock flour matrix and clasts are cemented by
quartz, carbonate, coarse chlorite, chalcopyrite and lesser pyrite. The sulphides commonly occur late and
open space remains. Dominant alteration is sericite and kaolinite. The breccia intruded the contact zone
between the Glory Hole Volcanics and the Copper Creek batholith. The dimen sion of the Copper Giant
breccia is 285 m by 170 m with a known vertical extent of 350 m.
Glory Hole Breccia
Several prominent outcrops of breccia occur in the Glory Hole area , which may also be referred to as the
Globe breccia. Clasts are dominantly angular and composed of Glory Hole Volcanics. Border zones include
shingle breccias and there is slightly more clast rotation evident away from the contact. Clasts are cemented
by quartz and sulphides, of which pyrite commonly is greater than chalcopyrite. Bre ccias are affected by
intense quartz -sericite alteration. Oxide copper mineralization is only dominant in the top 10 m below
surface. The dimension of the Glory Hole breccia is 130 m by 90 m with a known vertical extent of 370 m.
Holly Breccia
The Holly breccia is located approximately 250 m south of the Glory Hole breccia and was historically drilled
by reverse circulation, thus limiting textural and structural observation from drill core. A drill hole, part of
Faraday’s 2022 exploration program, has intersected intensely sericite-kaolinite altered polymictic breccia,
with pyrite and chalcopyrite mineralization , at approximately 100 m below previous drilling. Assay results
are pending for this drill hole. The dimension of the Holly breccia is 220 m by 100 m with a known vertical
extent of 475 m.
Old Reliable Breccia
The Old Reliable breccia was partially mined in the early 20th century by underground extraction and again
in the early 1970s by way of in -situ leaching . The breccia consists primarily of altered and angular to
subangular fragments of pebble-sized Glory Hole Volcanics. The breccia cement consists of quartz, sericite,
chlorite and sulphides, and the core of the pipe is strongly silicified. Mineralization consis ts of pyrite -
chalcopyrite-chalcocite-molybdenite with oxide copper minerals significant in the upper 30 m from surface.
The dimension of the Old Reliable breccia is 250 m by 190 m with a known vertical extent of 285 m.
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Figure 5: Examples of breccia textures from the northwestern part of the Copper Creek resource area.
A. Glory Hole breccia;
B. Old Reliable breccia;
C. Copper Giant breccia; and
D. Copper Prince breccia.
Note the angular nature of clasts, local open space and sulphide cement. Occurrence of chalcopyrite has
been labelled with “cpy” and pyrite with “py”.
American Eagle Zone
The American Eagle zone differs from the breccia hosted mineralization in that the bulk of the mineralization
is contained in subvertical and subhorizontal zones of early halo veins, which are characterized by 1 cm to
10 cm wide biotite-muscovite-potassium-feldspar halos around veins (Proffett, 2009). Copper sulphides are
disseminated in the vein halos and in the centre of the early halo veins, and copper grade is related to vein
density. Early halo veins are paragenetically early and form in porphyry systems emplaced at 5 km to 6 km
crustal depth. Sulphide mineralogy is vertically zoned from pyrite near surface to chalcopyrite and bornite
at depth. Copper grades are highest within granodiorite above the upper contact of the felsic domain within
the Copper Creek batholith. The dimension of the American Eagle zone is 500 m by 900 m with a known
vertical extent of 500 m (Figure 4).
Widely spaced early halo veinlets are common throughout the district, including outside the American Eagle
zone. These veins pre-date the breccias.
Alteration
The alteration related to early halo veins consist of biotite-muscovite-green sericite and potassium feldspar
with disseminated sulphides and is confined to the halo of individual veins. Where early halo veins are
abundant, this amounts to a moderate addition of potassium to the rock. More intense potassic alteration
is localized in the Keel zone which is interpreted as a magmatic cupola zone (Figure 6). Some early halo
veins are exploited by a later D -vein overprint which w idens the muscovite alteration halo and can add
additional sulphides including pyrite, chalcopyrite and locally, tennantite. The most intense alteration is
recognized within and around hydrothermal breccia bodies. There, alteration is characterized by loca lly
coarse muscovite and quartz, some kaolinite as well as lesser chlorite and carbonate and is interpreted to
be broadly temporally related to D-vein overprint over the early halo style mineralization.