Faraday Copper Intersects 1.12% Copper over 117.83 Metres within 259.98 Metres at 0.68% Copper at the Recently Discovered Banjo Breccia in the American Eagle Area
NEWS RELEASE September 24, 2024
Faraday Copper Intersects 1.12% Copper over 117.83 Metres within
259.98 Metres at 0.68% Copper at the Recently Discovered Banjo
Breccia in the American Eagle Area
September 24, 2024 – Vancouver, British Columbia – Faraday Copper C orp. (“ 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 recently discovered
Banjo breccia in the American Eagle area.
Paul Harbidge, President and CEO, commented “It is very exciting that the results from drill hole 73 further
delineate the Banjo breccia and expand upon the results in the discovery hole 70, particularly in regard to
the continuity of the +1% high-grade core and wide zone of lateral mineralization. The system remains open
in multiple directions and grades are increasing with depth.”
Highlights
▪ At the B anjo breccia, drill hole FCD-24-073 intersected 117.83 metres (“m”) at 1.12% copper and
2.43 grams per tonne (“g/t”) silver from 298.00 m within 259.98 m at 0.68% copper and 1.57 g/t
silver from 205.00 m.
▪ An additional drill hole at the Banjo breccia, FCD-24-072, intersected 48.21 m at 0.41% copper and
1.09 g/t silver from 206.70 m within 164.20 m at 0.28% copper and 0.89 g/t silver from 196.80 m. The
hole also intersected 39.44 m at 0.26% copper and 0.81 g/t silver from 91.41 m.
▪ Mineralization at the Banjo breccia remains open and follow up drilling is in progress.
▪ A second drill rig is currently being mobilized to site to test targets outside of 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 ten 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, July 25, 2024, and August 21, 2024). These
results provide a broad framework of the geology, structure, and alteration and confirm the potential for
significant near-surface copper mineralization.
Drill hole FCD-24-073 was collared approximately 200 m northeast of the American Eagle breccia
and 270 m north of the collar of the discovery hole for Banjo, FCD-24-070, and drilled to the south
(Figures 1, 2, 3, and 4) . The mineralized intersection s of these holes are offset approximately 25
m laterally. FCD-24-073 intersected mainly granodiorite to 243 m after which it entered
hydrothermal breccia to 464 m. Igneous cemented breccia and granodiorite with intervals of
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porphyry were intersected through the remainder of the hole. The hydrothermal breccia is
characterized by intense sericite alteration. The copper mineralization occurs as breccia cement,
as well as in veinlets and as disseminations in wallrock adjacent to the breccia.
Drill hole FCD -24-072 was collared approximately 260 m east of the American Eagle breccia ,
approximately 170 m north of the collar of FCD -24-070 and drilled to the northwest (Figures 1, 2,
3, and 4) . FCD-24-072 was drilled at a shallower depth and intersected mineralization
approximately 150 m above the high-grade intercepts of drill holes FCD-24-070 and FCD-24-073.
The hole intersected mostly granodiorite to 227 m and hydrothermal breccia to 255 m. The rest of
the hole remained in granodio rite. The breccia domain is characterized by intense sericite
alteration. Copper mineralization occurs in breccia cement and in veins cross-cutting granodiorite
outside the breccia domain.
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, 38 drill holes have been completed and results for 36 have been released.
Twelve holes were drilled in the American Eagle area, thirteen in Area 51, 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 shells are 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 Holes at Banjo Breccia
Note: For drill hole FCD-24-070, not reported herein, refer to news release dated August 21, 2024.
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Figure 3: Isometric View Showing Phase III Drill Holes in the American Eagle Area
Note: The field of view represents an approximately 700-metre-thick slice. 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, July 25, 2024, and August 21, 2024.
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Figure 4: A Core Sample from Drill Hole FCD-24-073
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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-24-072 91.41 130.85 39.44 39 0.26 N/A 0.81 0.0004
and 196.80 361.00 164.20 77 0.28 N/A 0.89 0.0011
including 206.70 254.91 48.21 23 0.41 N/A 1.09 0.0015
FCD-24-073 48.56 68.87 20.31 20 0.19 N/A 0.51 0.0004
and 205.00 464.98 259.98 89 0.68 0.02 1.57 0.0017
including 298.00 415.83 117.83 40 1.12 0.03 2.43 0.0016
also including 378.76 404.43 25.67 9 1.66 0.04 3.47 0.0019
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. N/A: Not analyzed.
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-24-072 549254 3623431 1373 295 62 Banjo 1,230.6 375.09
FCD-24-073 549111 3623542 1336 160 70 Banjo 1,607.7 490.03
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.
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.