Faraday Copper Reports Gold Assay Results from the Childs Aldwinkle Breccia at the Copper Creek Project in Arizona
NEWS RELEASE October 5, 2023
Faraday Copper Reports Gold Assay Results from the
Childs Aldwinkle Breccia at the Copper Creek Project in Arizona
October 5, 2023 – Vancouver, British Columbia – Faraday Copper Corp. (“Faraday” or the “Company”)
(TSX:FDY) (OTCQX:CPPKF) is pleased to announce the results of gold assays from the Childs Aldwinkle
breccia at the Copper Creek project in Arizona, USA. The Company analyzed archived material, which was
not previous ly assayed for gold , with the aim of increasing data coverage . The results support the
Company’s belief that there is payable gold at the project which has the potential to unlock further value.
Paul Harbidge, President and CEO, commented “We are please d to provide the first results of the gold
program after completing analysis of the Childs Aldwinkle breccia. The results show near surface gold
mineralization in the current resource pit shell and demonstrate the potential to add a gold by-product, further
enhancing the value of the project. The team has been able to advance our thesis of payable gold in the
resource by utilizing the historical drill core and pulps that previous operators did not analyze for gold. With
Childs Aldwinkle assay results now received, the Company is currently preparing samples from other high-
priority breccias and we look forward to presenting results as they are available.”
Highlights
▪ Significantly increased analytical coverage for gold at Childs Aldwinkle with 743 new gold assay
results in addition to 120 historical gold results.
▪ Examples of intercepts with new gold assays and re-assayed copper include:
▪ 219.46 m (“metres”) at 3.29% copper and 0.31 g/t gold from 24.38 m in drill hole CA-5R;
▪ 94.49 m at 1.12% copper and 0.13 g/t gold from 341.38 m in drill hole CA30+3; and
▪ 56.38 m at 1.32% copper and 0.29 g/t gold from 150.88 m in drill hole CC-2.
▪ A weighted average of 0.16 g/t gold and 1.52% copper is calculated for mineralized intercepts for
which gold analytical data is available1.
▪ Gold and copper are well-correlated on an intercept basis with an overall ratio of approximately 1:10
gold (g/t):copper (%) at Childs Aldwinkle.
▪ Historical metallurgical test work suggests high gold recoveries in the copper concentrate. The
Company has initiated a metallurgical program to confirm gold recoveries.
▪ As part of the gold program, copper was re-assayed. These results confirm historical data, providing
additional confidence in the database.
▪ Phase III drill program is expected to commence in October 2023.
1 Data from two historical metallurgical drill holes (MET-2CA and MET-3CA), totaling 230.12 m, drilled vertically through
the high-grade portions of the breccia , were not included in th e weighted average calculation due to their high gold
content and spatial proximity to each other, which could skew the results . “Mineralized intercepts” refers to intercepts
within the breccia volume with values greater than 0.13% copper.
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The Gold Program
Historically, only a small portion of all samples analyzed for copper were also analyzed for gold. The
Company is analyzing archived sample material for gold with the aim of increasing data coverage for
potential inclusion in future resource updates. In addition to gold assays, samples are being re-analyzed
for copper, silver and molybdenum to further validate historical results. Childs Aldwinkle is the first breccia
to be analyzed as part of this program.
Gold and copper results for Childs Aldwinkle are presented in Table 1. Gold values were calculated for a
total of 28 drill hole intercepts and the results improve spatial coverage for the Childs Aldwinkle breccia
(Figure 1).
The gold and copper intercept values have a strong correlation with a 1:10 gold (g/t):copper (%) ratio
within Childs Aldwinkle (Figure 2) . The Childs A ldwinkle breccia domain is estimated to contain
approximately 3.3 million tonn es of mineralized material , based on the Mineral Resource Estimate
(“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”) and
the associated resource pit shell constraints.
The strong correlation between copper and gold at Childs Aldwinkle suggests that precious metals are
mineralogically associated with copper and are expected to report to a copper concentrate. The Company
has initiated a metallurgical program to obtain additional data on gold recoveries, including variability test
work across multiple breccia domains.
The gold:copper ratio for the Childs Aldwinkle breccia should not be applied to other breccias. The gold
occurrence has not undergone metallurgical and economic assessment, and therefore it does not
currently qualify as part of a mineral resource.
Next steps
The Company is continuing the re-assaying of historical material for potential inclusion of gold in future
mineral resource updates. Additional areas are expected to include the Copper Prince and Pole breccias
and the Keel underground zone.
The Phase III Drill Program is expected to commence in October 2023 with the following three objectives:
▪ Expanding the MRE;
▪ Better delineating high-grade mineralized zones; and
▪ Reconnaissance drilling on new targets.
The Company has commenced a metallurgical program focused on grind size optimization to test viability
of coarse particle flotation, gold deportment to concentrate and further test work on near surface
mineralization.
The Company is targeting an updated technical report in the first half of 2025, which will include results
from the Phase II and III drill programs, the gold program, and metallurgical studies.
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Figure 1: Long section of Childs Aldwinkle breccia domain with gold intercepts
Note: The open pit shell is based on constraints used in the MRE as presented in the Technical Report , which is
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: Correlation of copper and gold intercepts at the Childs Aldwinkle breccia
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Table 1: Intercept values at the Childs Aldwinkle breccia
Drill Hole ID From To Length True width Cu Au Ag Mo
(m) (m) (m) (m) (%) (g/t) (g/t) (%)
CA-4R 12.19 30.84 18.65 N/A 0.48 0.02 1.47 0.0042
CA-4R 64.01 82.30 18.29 N/A 0.36 0.02 0.82 0.0016
CA-5R 24.38 243.84 219.46 N/A 3.29 0.31 13.88 0.0770
CA28+3A 441.96 496.83 54.87 32 0.45 0.03 1.30 0.0004
CA28+4 512.07 566.93 54.86 30 1.84 0.17 4.69 0.0320
CA30+3 341.38 435.87 94.49 60 1.12 0.13 4.55 0.0230
CA30+4 438.91 496.83 57.92 36 0.40 0.03 1.08 0.0006
CA32+3 341.38 390.15 48.77 34 1.64 0.21 5.50 0.0320
CA32+5 330.40 360.88 30.48 21 0.99 0.10 3.69 0.0800
CA32+6 256.03 289.56 33.53 22 0.27 0.02 0.67 0.0031
CA34+3 234.70 271.27 36.57 22 0.75 0.05 2.26 0.1106
CA34+4 234.70 280.42 45.72 28 1.57 0.10 5.62 0.0285
CA34+4A 243.84 274.32 30.48 19 0.72 0.12 3.17 0.1007
CA35.5+1 176.78 234.70 57.92 44 0.42 0.03 1.85 0.0130
CA35.5+3 225.55 234.70 9.15 7 0.25 0.02 0.92 0.0016
CA36+7 249.94 277.37 27.43 22 2.49 0.24 9.74 0.0867
CA37.5+1 146.30 179.83 33.53 28 0.41 0.02 1.15 0.0113
CA37.5+1A 124.97 173.74 48.77 44 0.46 0.03 2.25 0.0746
CA37.5+2 134.11 158.50 24.39 22 0.26 0.01 0.72 0.0601
CA38+7 149.35 184.10 34.75 22 2.36 0.19 9.31 0.0179
CA40+7 116.43 135.64 19.21 17 3.48 0.24 10.59 0.0649
CC-2 150.88 207.26 56.38 36 1.32 0.29 5.53 0.0205
MET-2CA 45.72 169.16 123.44 N/A 3.79 0.33 11.57 0.0486
MET-3CA 45.72 152.40 106.68 N/A 3.71 0.35 11.27 0.0169
FCD-23-023 184.72 230.61 45.89 35 1.68 0.33 5.55 0.0280
FCD-23-027 390.72 408.98 18.26 9 0.22 0.01 1.58 0.0080
CA-9R 164.59 182.88 18.29 N/A 2.76 0.28 8.20 0.0206
CATECH 237.74 243.23 5.49 N/A 1.61 0.23 9.43 0.0014
CA28+8 No significant intercepts and incomplete gold data
CA30+6 No significant intercepts
CA35.5+2 No significant intercepts
CA36.5+2 No significant intercepts
CA36.5+3 No significant intercepts
CA36+8 No significant intercepts
Notes: Copper, silver and molybdenum columns indicate re-assayed metal values. Drill holes MET-2CA and MET-3CA
were not re-assayed as part of this program. Drill holes CA40+7 and CC-2 are composite samples. For drill holes CA-
9R and CATECH , gold data do es not cover the entire mineralized intercept and lengths listed are for the portion for
which gold data is available. True widths are approximate.
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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 from archived pulverized rock material (pulps). Pulps
were re-blended and 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-gram aliquot by fire assay with an ICP-AES finish. A certified reference sample was inserted every 15th
to 20th sample. Blanks were inserted every 10th sample. In addition to the 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 res ults.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved
by Faraday’s Vice President Exploration, Dr. Thomas Bissig, P. Geo., and Faraday’s Vice President,
Projects and Evaluations, Zach Allwright, P.Eng., both of whom are considered 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
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 min ing 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.
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 results,
level of activity, performance or achievements of Faraday to be materially different from those expressed or implied by such forward-
looking stat ements. Such forward -looking statements and forward -looking inform ation specifically include, but are not limited to,
statements concerning the possibility of adding payable gold in future Mineral Resource Estimates, the thesis that precious metals
are mineralogically associated with copper within the Copper Creek property and the areas to be included in the review of historical
samples for increased assay coverage.
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 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
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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 inherent 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 requirements, 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.