Faraday Copper Intersects 23.25 Metres at 1.58% Copper Within 57.73 Metres at 0.85% Copper in the Rum Area
NEWS RELEASE November 19, 2024
Faraday Copper Intersects 23.25 Metres at 1.58% Copper
Within 57.73 Metres at 0.85% Copper in the Rum Area
November 19 , 2024 – Vancouver, British Columbia – Faraday Copper C orp. (“ Faraday” or the
“Company”) (TSX:FDY) (OTCQX:CPPKF) is pleased to announce the results of three drill holes from its
ongoing Phase III drill program at the Copper Creek Project, located in Arizona (“Copper Creek”). One hole
was drilled to target near-surface mineralization at the Rum area and two were drilled as reconnaissance
holes in the American Eagle area, further testing the potential for near-surface mineralization.
Paul Harbidge, President and CEO, commen ted “ It is encouraging to intersect strong near -surface
mineralization with Faraday’s first drill hole in the Rum area, which is 700 metres north of the current mineral
resource. This result further supports the prospectivity along the interpreted Holy Joe Fault, which extends
across the property. This fault and related structures controlled the emplacement of multiple breccias and
porphyries, many of which remain untested and will be the focus of our ongoing drill program.”
Highlights
▪ At Rum, drill hole FCD-24-078 intersected 57.73 metres (“m”) at 0.85% copper from surface.
This intercept includes a zone of supergene copper enrichment of 23.25 m at 1.58% copper
from 24.25 m.
▪ East of American Eagle, drill hole FCD-24-076, targeting near-surface vein-hosted mineralization,
intersected 24.20 m at 0.45% copper and 1.51 grams per tonne (“g/t”) silver from 176.36 m, within
69.45 m at 0.29% copper and 1.01 g/t silver from 160.55 m.
(For true width information see Table 1.)
The Rum area is located approximately 700 m north west of the resource are a (Figures 1, 2, 4 and 5). It
features several breccias and porphyries intruding Glory Hole volcanics over an area of approximately 250
m by 400 m, with copper oxide mineralization observed at surface. There is very limited historical drilling in
this area with one vertical drill hole (RUM-1), drilled in the late 1990s, intercepting 48.8 m at 1.07% copper.
▪ Drill hole FCD-24-078 was collared in porphyry, approximately 20 m from the Rum breccia surface
contact and drilled toward the northeast . It start s in granodiorite porphyry and intersect s
hydrothermal breccia from 16 m to 58 m. It crosses a fault and , in the footwall, enters Glory Hole
volcanics, intruded by a granodiorite porphyry dyke from 68 m to 105 m. Copper oxide
mineralization occurs in cavities and on fracture surfaces within the porphyry at the top of the hole,
whereas secondary copper sulphides (chalcocite) are abundant from 25 m to 58 m.
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 signatures (Figures
1 and 3). 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 histo rical small -scale mining highlight the potential for near -surface
mineralization. The Company has reported assay results for thirteen 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,
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2024, August 21, 2024 , September 24 , 2024, and October 17, 2024 ). These results provide a broad
framework of the geology, structure, and alteration and confirm the potential for significant near -surface
copper mineralization. Drilling continues in the area to test additional undrilled breccias and follow-up drilling
on recent discoveries.
▪ Drill hole FCD-24-075 was collared approximately 250 m east of the American Eagle breccia . It
was drilled steeply to the northwest to test the Boomerang breccia, which is located south of Banjo,
and the vein hosted mineralization between American Eagle and Banjo. The hole started in
granodiorite porphyry and intersected hydrothermal breccia from 83 m to 103 m and 118 m to 171
m with porphyry between the two breccia intervals . Granodiorite dominates below the breccia to
the end of the hole . The hydrothermal breccia is characterized by variably i ntense sericite ,
tourmaline and kaolinite alteration. The dominant sulphide in the breccia cement is pyrite with
chalcopyrite present from 155 m to 171 m, demonstrating that Boomerang has increasing copper
mineralization at depth below the pyrite zone . Within granodiorite , chalcopyrite and pyrite are
hosted in early halo veins overprinted by quartz sericite pyrite alteration.
▪ Drill hole FCD-24-076 was collared approximately 400 m east of the American Eagle breccia and
drilled steeply to the west. The dominant lithology throughout the hole is granodiorite. Mineralization
occurs as chalcopyrite in early halo veins variably overprinted by quartz sericite pyrite alteration.
Next Steps
Phase III drilling continues with the current focus on near -surface mineralization in the American Eagle
and Rum areas.
To date, through the combined Phase II and Phase III drill programs, which are not included in the Mineral
Resource Estimate, the Company has released results from 68 drill holes as follows:
▪ 41 drill holes were drilled on new targets that are entirely outside of the resource boundary;
▪ 20 drill holes were step-out holes testing extensions to the mineral resource; and
▪ 7 drill holes were drilled within the resource area, targeting expansion of the higher-grade cores.
The Company expects to include over 30,000 met res of incremental drilling in a mineral resource update
planned for 2025, with the new targets representing a significant opportunity to enhance the project value .
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: Location Map
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Figure 2: Plan View Showing Surface Geology and Location of the Drill Hole in the Rum Area
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Figure 3: Plan View Showing Surface Geology and Location of the 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 4: Cross Section Showing Phase III Drill Hole at Rum Area
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Figure 5: A Rock Sample from Surface Collected Near the Collar of Drill Hole FCD -24-078 (Rum Area),
showing Chrysocolla (Turquoise Color) Filling Cavities in Porphyry
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-24-078 0.00 57.73 57.73 50 0.85 0.01 0.57 0.0002
Including 24.25 47.50 23.25 20 1.58 0.02 0.60 0.0002
FCD-24-075 155.12 177.47 22.35 10 0.20 N/A 0.70 0.0007
and 330.68 379.73 49.05 49 0.17 N/A 0.51 0.0012
and 425.30 532.63 107.33 107 0.19 N/A 0.57 0.0026
and 588.61 657.45 68.84 68 0.18 N/A 0.64 0.0028
FCD-24-076 160.55 230.00 69.45 69 0.29 N/A 1.01 0.0008
including 176.36 200.56 24.20 24 0.45 N/A 1.51 0.0006
and 370.15 454.02 83.87 83 0.20 N/A 0.58 0.0013
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.
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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-24-078 547275 3625755 1,399 35 60 Rum 699.9 229.61
FCD-24-075 549224 3623279 1,309 328 65 Boomerang 2,003.9 657.45
FCD-24-076 549254 3623431 1,375 280 78 American
Eagle East 1,545.4 507.03
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”.
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 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.