Faraday Copper Intersects 1.05% Copper over 165.8 Metres, Including 2.61% Copper over 34.0 Metres at Copper Creek in Arizona
NEWS RELEASE September 7, 2022
Faraday Copper Intersects 1.05% Copper over 165.8 Metres, Including
2.61% Copper over 34.0 Metres at Copper Creek in Arizona
September 7, 2022 – Vancouver, British Columbia – Faraday Copper C orp. (“ Faraday” or the
“Company”) (CSE:FDY) (OTCQX:CPPKF) is pleased to announce results from five drill holes (2,984 metres)
of its nine-drill-hole (6,000-metre) Phase I diamond drill program (the “Drill Program”) at the Copper Creek
project, located in Arizona, U.S. (“Copper Creek”).
Paul Harbidge, President and CEO commented “I am pleased with the first set of results from our Phase I
drill program, which was designed to increase the data coverage in previously undrilled areas between
known breccia -hosted mineralization, to collect geotechnical information , and to confirm historic drill
results.”
“The results to-date confirm the high -grade nature of the near-surface breccia pipes, as well as a lower -
grade mineralized material envelope, previously classified as waste. These results, together with the
recently published Mineral Resource Estimate, have focused the upcoming Phase II drill program on the
expansion of the open pit resource, infilling the underground mineralization and testing generative targets.”
Highlights
▪ Intercepted high-grade copper mineralization at the Mammoth breccia
▪ Intercepted 1.05% copper over 165.8 metres (“m”) from 431.0 m, including 2.61% copper
over 34.0 m from 451.0 m in drill hole FCD-22-008; and
▪ Intercepted 0.76% copper over 26.0 m from 0.0 m in drill hole FCD-22-008.
▪ Defined new near-surface mineralized zones within 60 m from Childs Aldwinkle
▪ Intercepted 0.34% copper over 34.0 m from 14.0 m, including 0.53% copper over 16.0 m
from 18.0 m in drill hole FDC-22-005.
▪ Expanded the upper Keel Zone
▪ Intercepted 0.35% copper over 99.2 m from 717.1 m, including 0.44% copper over 24.0 m
from 744.0 m in drill hole FDC-22-005.
▪ Confirmed mineralization in the Glory Hole breccia and adjacent halo
▪ Intercepted 0.47% copper over 40.0 m from 4.0 m and 0.51% copper over 67.0 m from
78.0 m, with the latter interval also containing 1.42% copper over 5.7 m from 100.3 m.
▪ Identified copper mineralization in the newly discovered, blind Copper Duchess breccia
▪ Intercepted 0.31% copper over 6.4 m from 328.6 m and 0.23% copper over 8.0 m from
347.0 m in drill hole FDC-22-004.
The results from the D rill Program are based on a cut-off grade of 0.23% copper and will be incorporated
into an updated Mineral Resource Estimate (“MRE”) in conjunction with the Preliminary Economic
Assessment (“PEA”) for Copper Creek, expected to be completed by the end of the second quarter of 2023.
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The Company has received assay results for the following five drill holes , with a ssay results for the
remaining four drill holes still pending. All intervals are reported as drill widths.
Drill hole FCD-22-008 was collared at the White Bear breccia and drilled to the southeast towards the
Mammoth breccia (Figures 1 and 2) . This drill hole crosses a gap in previous drilling and provides critical
geotechnical information for open pit development. Highlights include:
▪ 2.61% copper and 7.35 g/t silver over 34.0 m from 451.0 m, within a longer interval of 1.05% copper
and 2.29 g/t silver over 165.8 m from 431.0 m to the end of the drill hole and mineralization remains
open. This high-grade intercept further defines the mineralization and identifies exploration upside
at the Mammoth breccia (Figures 1 and 2).
▪ 0.76% copper and 0.67 g/t silver over 26.0 m from surface, confirming mineralization at the White
Bear breccia.
Figure 1: Plan view showing reported drill holes from Phase I Drill Program at the Copper Creek
project
Notes: “Open pit shell” is based on the constraints used in the MRE as presented in the technical report entitled “NI 43-
101 Technical Report Mineral Resource Estimate Copper Creek Project, Arizona” and dated August 18, 2022.
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Figure 2: Cross section showing drill holes FCD-22-005 and FCD-22-008
Notes: “Open pit shell” is based on the constraints used in the MRE as reported in the technical report entitled “NI 43-
101 Technical Report Mineral Resource Estimate Copper Creek Project, Arizona” and dated August 18, 2022.
Drill hole FCD-22-005 was collared approximately 60 m northwest of the Childs Aldwinkle breccia and
drilled to the south, aimed at infilling the gap between the Mammoth and Childs Aldwinkle breccias (Figures
1 and 2). These intercepts demonstrate that copper mineralization is present in previously undrilled areas
between breccias. In addition, key geotechnical information was collected to optimize the open pit design
and to define the pit-to-underground transition. Highlights include:
▪ 0.34% copper and 1.08 g/t silver over 34.0 m from 14.0 m, including 0.53% copper and 1. 53 g/t
silver over 16 .0 m from 18 .0 m. This intercept identifies near-surface mineralization that was
previously unrecognized.
▪ 0.26% copper and 0.91 g/t silver over 12. 5 m from 259.5 m. This intercept indicates a previously
unrecognized mineralized area with the potential to convert waste to ore within the proposed open
pit.
▪ 0.35% copper and 0.83 g/t silver over 99.2 m from 717.1 m to the end of the drill hole at 816.3 m,
including 0.44% copper and 0.94 g/t silver over 24.0 m from 744.0 m. This intercept defines the
shallow portion of the Keel cupola zone and expands known mineralization to the south of the
lower Mammoth breccia. Mineralization remains open.
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▪ 0.34% copper and 0.69 g/t silver over 21.6 m from 533.4 m. This intercept confirms mineralization
above the cut-off grade in the lower portion of the Mammoth breccia.
Drill hole FDC-22-002 was collared north of the Glory Hole breccia and drilled towards the south (Figures
1 and 3). This drill hole defined mineralization in the volcanic host -rock at the start of the drill hole and
confirmed and further defined mineralization in the Glory Hole breccia. The drill hole also intercepted the
Holly breccia at depth. Highlights include:
▪ 0.47% copper and 0.23 g/t silver over 40.0 m from 4 .0 m, including 0.67% copper and 0.20 g/t
silver over 22.0 m from 14.0 m.
▪ 0.51% copper and 1.87 g/t silver over 67.0 m from 78.0 m, including 1.42% copper and 4.14 g/t
silver over 5.7 m from 100.3 m.
▪ This drill hole intercepted the lower part of the Holly breccia from 404.0 m to 482.0 m which is
elevated in silver (0.81 g/t silver over 78.0 m) and warrants further exploration.
Figure 3: Cross section showing drill hole FCD-22-002
Notes: “Open pit shell” is based on the constraints used in the MRE as reported in the technical report entitled “NI 43-
101 Technical Report Mineral Resource Estimate Copper Creek Project, Arizona” and dated August 18, 2022.
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Drill hole FDC-22-004 was collared near the Copper Giant breccia and drilled towards the south. The drill
hole intersected a previously unknown breccia (now named the Copper Duchess breccia) between 313 .0
m and 496.0 m depth. Two notable intercepts include 0 .31% copper and 1.23 g/t silver over 6.4 m from
328.6 m and 0.23% copper and 0.85 g/t silver over 8.0 m from 347 .0 m. These intercepts highlight the
exploration potential in this newly identified breccia situated between the well mineralized Copper Prince
and Childs Aldwinkle breccias (Figure 1).
Drill hole FDC-22-003 was collared at the Copper Prince breccia and was drilled towards the north -
northeast, intercepting the Copper Giant breccia from 207.0 m to 340.0 m (below the MRE pit limits) and a
zone of moderately intense early halo and D-type veining from 456.0 m to 515.0 m. Isolated copper assays
above cut-off were observed throughout the hole. This hole provides guidance for Phase II follow-up drilling
and demonstrates exploration potential for early-halo style porphyry mineralization at depth beyond the
current level of drilling (Figure 1).
Next Steps
Assay results for drillholes FCD-22-001, FCD-22-006, FCD-22-007, and FCD-22-009 are pending and will
be released when available. Assay and geotechnical data from the Drill Program will be incorporated into an
updated Mineral Resource Estimate as part of the PEA expected to be completed by the end of the second
quarter of 2023. The new drill results, the MRE, and a target generation study will guide the design of the
Phase II drill program, expected to start in Q4 2022.
Table 1: Selected drill hole results from Phase I Drill Program at the Copper Creek project
Drill Hole ID From To Length Cu Mo Ag
(m) (m) (m) (%) (ppm) (ppm)
FCD-22-002 4.0 44.0 40.0 0.47 11 0.23
including 14.0 36.0 22.0 0.67 8 0.20
and 78.0 145.0 67.0 0.51 24 1.87
including 100.3 106.0 5.7 1.42 25 4.14
FCD-22-003 No significant assay results
FCD-22-004 328.6 335.0 6.4 0.31 40 1.23
and 347.0 355.0 8.0 0.23 18 0.85
FCD-22-005 14.0 48.0 34.0 0.34 29 1.08
including 18.0 34.0 16.0 0.53 45 1.53
and 259.5 272.0 12.5 0.26 36 0.91
and 511.0 555.0 44.0 0.24 5 0.52
including 533.4 555.0 21.6 0.34 5 0.69
and 717.1 816.3 99.2 0.35 29 0.83
including 744.0 768.0 24.0 0.44 24 0.94
FCD-22-008 0.0 26.0 26.0 0.76 3 0.67
and 431.0 596.8 165.8 1.05 17 2.29
including 451.0 485.0 34.0 2.61 14 7.35
including 537.0 559.0 22.0 1.25 35 0.94
Notes: Selection of drill hole results is based on a cut-off grade of 0.23% copper, a maximum of 14 m internal dilution
and no top cap applied. All intervals are reported as drill widths.
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Table 2: Collar locations from the Phase I Drill Program at the Copper Creek project
Drill Hole ID Easting Northing Azimuth Dip Target Depth Depth Results
Status
(°) (°) (ft) (m)
FCD-22-001 547841 3624744 130 -45 Copper Prince 1,476 484 Pending
FCD-22-002 547677 3624910 170 -45 Glory Hole 1,653 542 Reported
FCD-22-003 548098 3624490 012 -45 Copper Giant 1,626 533 Reported
FCD-22-004 548207 3624684 175 -45 Copper Prince 1,512 496 Reported
FCD-22-005 548405 3624126 180 -50 Mammoth 2,489 816 Reported
FCD-22-006 547908 3624177 230 -50 Old Reliable 1,412 463 Pending
FCD-22-007 547906 3624175 135 -45 Keel 4,017 1,317 Pending
FCD-22-008 548217 3624009 150 -45 Mammoth 1,820 597 Reported
FCD-22-009 548856 3622947 000 -45 American Eagle 2,318 760 Pending
Total 18,324 6,008
Notes: 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 ana lytical methods including a 4-Acid
ICP-MS multielement package and an ICP -AES method for high -grade copper samples. A certified
reference sample was inserted every 20th sample. Coarse blanks were inserted every 20 th sample as well.
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 two copper projects in The
United States of America. The Copper Creek project, located in Arizona, is one of the largest undeveloped
copper projects in North America with open pit and bulk underground mining potential. The Contact Copper
project, located in Nevada, provides potential for a low -cost open pit, heap leach, oxide project. 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 CSE 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
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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 kn own and unknown risks, uncertainties and other factors that may cause actual results,
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 expected timing for the PEA, and the timing of future drilling of the Copper Creek property, and th e
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 devel opments 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
resources; receipt of regulatory approval; receipt of shareholder approval; mining rates and recovery rates; signi ficant capital
requirements; price volatility in the spot and forward markets for commodities; fluctuations in rates of exchange; 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 mineral claims
or property or contests over claims to mineral properties; unexpected delays and costs inherent to consulting and accommodati ng
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 requirements, including those associated with th e
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.sedar.com.
This news 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 news 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 news release, and any representation to the contrary is an offence.