Faraday Copper Intersects 1.01% Copper Over 117.90 Metres within 269.65 Metres at 0.64% Copper, Discovering the High-Grade Mineralized Banjo Breccia in the American Eagle Area
NEWS RELEASE August 21, 2024
Faraday Copper Intersects 1.01% Copper Over 117.90 Metres within
269.65 Metres at 0.64% Copper, Discovering the High-Grade
Mineralized Banjo Breccia in the American Eagle Area
August 21, 2024 – Vancouver, British Columbia – Faraday Copper Corp. (“Faraday” or the “Company”)
(TSX:FDY) (OTCQX:CPPKF) is pleased to announce the results of two drill holes from its ongoing Phase III
drill program at the Copper Creek Project, located in Arizona, U.S. (“Copper Creek”) . The two holes were
drilled to continue to evaluate the near-surface mineralization in the American Eagle area.
Paul Harbidge, President and CEO, commented “ Drilling in the American Eagle Area continues to provide
very e xciting results, with the discovery of the Banjo breccia , which has returned the best grade -width
intercept of this drill campaign to date. The Phase III drilling shows the potential for a large near-surface
resource to be defined above the current underground resource. The current interpretation suggest s
characteristics similar to the Mammoth breccia. Mammoth connects with the Keel underground zone and is
the most vertically continuous mineralized system defined so far on the property. Drilling continues with the
emphasis on both delineation of the Banj o breccia and testing additional breccias in the American Eagle
area.”
Highlights
▪ Drill hole FCD -24-070 is the discovery hole for the high -grade Banjo breccia and confirms
significant mineralization above the American Eagle underground resource.
▪ Drill hole FCD-24-070 intersected 117.90 metres (“m”) at 1.01% copper and 1.87 grams per tonne
(“g/t”) silver from 323.52 m, including 15.89 m at 2.15% copper and 2.48 g/t silver from 390.00
m.
o This intercept is within 269.65 m at 0.64% copper and 1.32 g/t silver from 229.49 m.
o Mineralization remains open.
▪ At the American Eagle breccia, intersected 88.16 m at 0.39% copper and 1.43 g/t silver from 188.34 m
in drill hole FCD-24-071, including 15.80 m at 0.93% copper and 3.71 g/t silver from 188.34 m.
▪ Confirmed vertical continuity of near surface breccia hosted mineralization to the porphyry
mineralization at depth in the American eagle area.
(For true width information see Table 1.)
The American Eagle area as mapped on surface, covers approximately 800 m by 1,000 m and is host to
numerous prospective breccias and porphyries which have strong copper geochemical signature s. These
surface expressions locate above the large underground porphyry mineral resource, which is approximately
500 m to 1,100 m depth below surface. Historically, the near-surface mineralization was not adequately
tested as previous drilling was vertical to steeply inclined. Mapped geology, isolated historical drill intercepts
and historical small-scale mining highlight the potential for near-surface mineralization. The Company has
reported assay results for eight drill holes from this area as part of the current program (for drill holes not
reported herein, refer to news releases dated June 25, 2024 and July 25, 2024). These results provide a
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broad framework of the geology, structure, and alteration and confirm the potential for significant near -
surface copper mineralization.
Drill hole FCD-24-070 was collared approximately 240 m southeast of the American Eagle breccia
and drilled to the north (Figures 1, 2, 4 and 5). Porphyry and breccia intervals alternate in the first
81 m. From 81 m to 242 m, the hole intersected mainly granodiorite crosscut by up to 20 m wide
breccia intervals and porphyry domains. Breccias in this upper part of the hole are pyrite and quartz
cemented. From 242 m to 450 m , hydrothermal breccia is characterized by intense sericite
alteration. Mineralization occurs as chalcopyrite together with pyrite and quartz breccia cement and
to a lesser degree in veinlets. The last 50 m of the hole contain chalcopyrite mineralization
associated with early halo veins.
Drill hole FCD-24-071 was collared approximately 140 m southeast of the American Eagle breccia
and drilled to the northwest (Figures 1, 3 and 4) . It intersected mostly igneous cemented breccia,
variably sericite altered, from surface to 98 m, and granodiorite cross-cut by porphyry until 192 m.
Alternating hydrothermal breccia and porphyry domains are present until 244 m , after which the
hole enters granodiorite cross-cut by porphyry. Copper mineralization occurs as chalcopyrite in
breccia cement and veinlets below 188 m downhole , or 110 m below surface . Chalcocite occurs
locally with chalcopyrite. Molybdenite is abundant from 238 m to 241 m. Sericite and tourmaline
are dominant alteration minerals associated with hydrothermal breccia domains.
Next Steps
Phase III drilling continues with the following objectives:
▪ Reconnaissance and follow-up drilling on new targets;
▪ Expanding the Mineral Resource Estimate (“MRE”); and
▪ Better delineating high-grade mineralized zones.
The current focus of drilling is on near-surface mineralization in the American Eagle area.
As part of the Phase III program, 36 drill holes have been completed and results for 34 have been released.
Thirteen holes were drilled in Area 51, ten in the American Eagle area, five in the Bald area, three in the
Copper Prince - Copper Giant area, three near Old Reliable and two in the Titan breccia. The assay results
for additional completed drill holes will be released as they are received, analyzed and confirmed by the
Company.
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Figure 1: Plan View Showing Surface Geology and Location of Drill Holes in the American Eagle Area
Note: The open pit shell is based on constraints used in the MRE as presented in the report titled “Copper Creek Project
NI 43 -101 Technical Report and Preliminary Economic Assessment” with an effective date of May 3, 2023 (the
“Technical Report”) available on the Company’s website at www.faradaycopper.com and on the Company’s SEDAR+
profile at www.sedarplus.ca.
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Figure 2: Cross Section Showing Drill Hole FCD-24-070 at the Banjo Breccia
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Figure 3: Cross Section Showing Drill Hole FCD-24-071 at the American Eagle Breccia
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Figure 4: Isometric View Showing Phase III Drill Holes in the American Eagle Area
Note: The open pit shells and underground footprint are based on constraints used in the MRE as presented in the
Technical Report available on the Company’s website at www.faradaycopper.com and on the Company’s SEDAR+
profile at www.sedarplus.ca. For drill holes not reported herein, refer to news releases dated June 25, 2024 and July
25, 2024.
Figure 5: A Core Sample from Drill Hole FCD-24-070
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Table 1: Selected Drill Results
Drill Hole ID From To Length True
Width Cu Au Ag Mo
(m) (m) (m) (m) (%) (g/t) (g/t) (%)
FCD-24-070 229.49 499.14 269.65 190 0.64 0.02 1.32 0.0010
including 323.52 441.42 117.90 83 1.01 0.03 1.87 0.0016
Also including 390.00 405.89 15.89 11 2.15 0.05 2.48 0.0009
FCD-24-071 188.34 276.50 88.16 68 0.39 0.01 1.43 0.0041
including 188.34 204.14 15.80 12 0.93 0.03 3.71 0.0022
and including 238.00 252.07 14.07 11 0.64 0.02 1.69 0.0203
Note: All intercepts are reported as downhole drill widths. Mineralization includes bulk porphyry style and breccia
mineralization true widths are approximate due to the irregular shape of mineralized domains.
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-24-070 549,224 3,623,279 1309 340 55 Banjo 1,521.4 499.14
FCD-24-071 549,123 3,623,273 1295 307 40 American Eagle 977.6 320.74
Note: Coordinates are given as World Geodetic System 84, Universal Transverse Mercator Zone 12 north (WGS84,
UTM12N).
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
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 and fine 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 significant district scale exploration potential . The Company is well -funded 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 TSX under the symbol “FDY”.
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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 and the likelihood of the Company increasing the
resource on the Copper Creek Project.
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
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.