Faraday Copper Receives Approval from the Bureau of Land Management for its Notice of Intent to Conduct Drilling at its Copper Creek Project in Arizona
NEWS RELEASE May 2, 2024
Faraday Copper Receives Approval from the Bureau of Land
Management for its Notice of Intent to Conduct Drilling
at its Copper Creek Project in Arizona
May 2, 2024 – Vancouver, British Columbia – Faraday Copper C orp. (“Faraday” or the “ Company”)
(TSX:FDY) (OTCQX:CPPKF) is pleased to announce that it has received approval from the U.S. Bureau of
Land Management (“BLM”) for its Notice of Intent (“NOI”) to conduct drilling on eleven drill pads at its Copper
Creek Project in Arizona (“Copper Creek”).
Paul Harbidge, President and CEO, commented “ Approval of the NOI is significant as it allows us to drill
high-priority targets above the American Eagle porphyry and in the Rum area. This drilling has the potential
to unlock significant value by adding high-grade, near-surface mineralization to the current resource. We are
currently evaluating bringing additional drill rigs to the project.”
Highlights
▪ Nine drill pads permitted in the American Eagle area, targeting near-surface breccia-hosted
mineralization;
▪ Two drill pads permitted in the Rum area, targeting porphyry-hosted mineralization exposed at surface;
and
▪ Earthworks contractors are being mobilized to re-establish road access and prepare drill pads.
American Eagle Area Overview
The American Eagle area includes numerous breccias mapped at surface (Figures 1 and 2). Historically,
this area was drilled by near-vertical holes to define the American Eagle porphyry mineralization at depth.
Near-surface breccia -hosted mineralization remains largely untested. Analysis of surface outcrops by
portable X -ray fluorescence analyzer 1 (”pXRF”) returned elevated copper values which , together with
copper oxide staining, was used to prioritize drill targets.
Rum Area Overview
The Rum area is located approximately 3.5 km northwest of the Amerian Eagle area. It includes
hydrothermal breccias and granodiorite porphyry intruding Glory Hole Volcanics. Copper oxide
mineralization is present in porphyry outcrops with a historical drill hole (R-1-1X) intersecting near-surface
high-grade mineralization of 48.77 metres at a grade of 1.07% copper from surface (true width is unknown
due to the orientation of the drill hole ). The drill pads allow testing the extent of mineralization as well as
targeting untested breccias in this area.
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Figure 1: Map Showing the High Priority Targets, pXRF Data1 for Copper Values and Nine Permitted Drill
Pads on BLM Land
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Figure 2: Outcrop of the American Eagle Breccia with Secondary Copper Minerals
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”).
Notes
1 Portable XRF (“pXRF”) results shown in Figure 1 represent spot analyses and only provide an indication
of the order of magnitude of formal assay results. These samples have not been submitted for laboratory
analyses and represent a layer of information to provide guidance in drill hole design. Each datapoint
represents the mean of three spot measurements.
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
To receive news releases by e-mail, please register using the Faraday website at 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 and future drilling plans at 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.
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