Latest news with #FaradayCopperCorp
Yahoo
15-05-2025
- Business
- Yahoo
Faraday Copper Intersects Near-Surface Supergene Copper Mineralization at the Globe and Copper Giant Breccias, Including 10.08 Metres at 3.62% Copper and 38.90 Metres at 0.51% Copper
VANCOUVER, BC / / May 15, 2025 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY)(OTCQX:CPPKF) is pleased to announce the results of seven drill holes from its Phase III drill program at the Copper Creek Project, located in Arizona ("Copper Creek"). These holes targeted near-surface supergene copper mineralization with the goal of better understanding the distribution of oxide mineralization. Five holes were drilled near the Globe breccia and two near the Copper Giant breccia. Paul Harbidge, President and CEO, commented, "These results demonstrate the continuity of supergene mineralization within the first 40 metres from surface. We have confirmed the presence of an enrichment blanket with high copper grades at Globe and expanded copper oxide mineralization to the north. Historically, there has been limited drilling targeting copper oxide mineralization across the deposit, and we see the potential to significantly expand the near-surface oxide resource through additional drilling, ultimately producing copper cathode early in the project life to significantly enhance shareholder returns." Highlights Expanded near-surface supergene oxide and secondary copper sulphide mineralization near the Globe and Copper Giant breccias. At the Globe breccia, intersected 10.08 metres ("m") at 3.62% copper from 65.92 m (approximately 30 m below surface) in drill hole FCD-25-107. This intercept corresponds to a secondary chalcocite enrichment zone. North of the Globe breccia, intersected 38.90 m at 0.51% copper from 3.55 m in drill hole FCD-25-111. Copper in this intercept is largely contained in oxide minerals such as malachite and chrysocolla. At the Copper Giant breccia, intersected 27.46 m at 0.50% copper from 6.10 m in drill hole FCD-25-104. This intercept includes near-surface copper oxide, transitioning to copper sulphide mineralization from 21 m downhole. (For true width information see Table 1) Zach Allwright, VP Projects and Evaluations, commented, "The opportunity to delineate additional near-surface oxide mineralization in future drill programs is highly encouraging. These high-grade oxide domains have demonstrated excellent recoveries via heap leaching (refer to news release dated February 26, 2024) and offer the potential to optimize the project staging with high-margin cathode production upfront as part of the initial pre-strip, prior to transitioning to copper production from sulphides. I look forward to further exploration to target near-surface oxide resource growth in subsequent drill programs." Copper Oxide and Enrichment Zones Seven short holes were drilled near the Globe and Copper Giant breccias to better understand the distribution of oxide mineralization and enrichment zones. Historically, there has been limited drilling targeting copper oxide across the deposit and there is the potential to expand the near-surface oxide resource as the project advances. Copper oxide mineralization is a product of weathering of primary copper mineralization and generally occurs within the first 40 m from surface at Copper Creek. Copper oxide minerals such as malachite, chrysocolla or tenorite can be processed through heap-leaching (refer to news release dated February 26, 2024), which offers the potential to produce copper cathode early in the mine life and with low capital expenditure. Near the base of the oxide zone, secondary copper sulphides such as chalcocite precipitate and can form an enrichment blanket consisting of high-grade copper mineralization. Drill hole FCD-25-104 was collared north of Copper Giant and drilled to the west. It intersected hydrothermal breccia from surface to 32 m, and Glory Hole volcanics to the end of the hole except for two granodiorite dykes at 60 m to 62 m and 75 m to 77 m. Alteration is sericite-kaolinite affecting the breccia domain and chlorite-biotite in the volcanics with some magnetite and potassium feldspar near the breccia contact. Copper mineralization occurs as oxide, including chrysocolla and tenorite, in the top 20 m of the hole transitioning into a domain with chalcocite and relict chalcopyrite as well as chrysocolla and tenorite. Drill hole FCD-25-106 was collared northwest of Copper Giant and drilled to the northwest. The hole intersected Glory Hole volcanics with granodiorite dykes from 12 m to 16 m, from 24 m to 26 m and from 84 m to 86 m. Fine grained secondary biotite with variable amounts of chlorite, actinolite and carbonate make up the alteration of the volcanics. Mineralization, consisting of chalcopyrite with pyrite, is limited to localized porphyry style veins from 70 m to 72 m and from 117 m to 123 m downhole. Drill hole FCD-25-107 was collared west of the Globe breccia and drilled to the east. After 12 m of volcanics the hole entered hydrothermal breccia to 77 m and went back into volcanics to the end of the hole. Alteration associated with the breccia is sericitic with kaolinite being significant below 51 m. Primary sulphides are largely oxidized to goethite and hematite as well as subordinate jarosite to a depth of 68 m. Copper mineralization occurs as malachite, chrysocolla and tenorite near the top of the hole whereas chalcocite together with chrysocolla, tenorite and cuprite make up the high-grade mineralization starting at 66 m. The breccia interval is characterized by elevated silver and molybdenum. Drill hole FCD-25-109 was collared west of the Globe breccia and drilled to the southeast. It intersected hydrothermal breccia from 10 m to 57 m and Glory Hole volcanics at the top and bottom of the hole. Alteration associated with breccia is sericitic. Primary sulphides are oxidized to jarosite, goethite and lesser hematite to a depth of 58 m. Copper mineralization occurs as malachite, chrysocolla and tenorite. The breccia interval is characterized by elevated silver and molybdenum. Drill hole FCD-25-110 was collared west of the Globe breccia and drilled to the north. For the first 3 m, Glory Hole volcanics were intersected, followed by locally intensely fractured granodiorite to 62 m. Volcanics make up the remainder. The granodiorite is sericite altered. Sulphides are largely oxidized to goethite and hematite to 53 m. Drill hole FCD-25-111 was collared north of the Glory Hole breccia and was drilled to the southeast. It intersected Glory Hole volcanics for its entire length. Fine-grained biotite alteration overprinted by minor sericite and kaolinite is present throughout. Goethite and hematite coat fracture surfaces together with copper oxide minerals that include malachite, chrysocolla and tenorite. Chalcocite, native copper and tenorite occur from 41 m to 43 m. Drill hole FCD-25-112 was collared north of the Glory Hole breccia and was drilled to the north. It intersected Glory Hole volcanics for its entire length. Fine-grained biotite alteration overprinted by minor sericite is observed from 18 m to 45 m. Goethite and hematite coat fracture surfaces to a depth of approximately 40 m. Copper mineralization is contained in oxide minerals including chrysocolla and tenorite in the top 13 m of the hole. Next Steps Phase III drilling commenced in October 2023 and concluded in mid-April 2025. The Company has completed nearly 40,000 metres of incremental drilling beyond the current Mineral Resource Estimate ("MRE")1, which represents a significant opportunity to enhance the project value by increasing the open pit mineral resource. Remaining assay results from nine drill holes are expected from the American Eagle area and district exploration targets and will be released as they are received, analyzed and confirmed by the Company. The Company anticipates the release of an updated technical study and mineral resource estimate near the end of the third quarter of 2025. Figure 1: Plan View Showing Surface Geology and Location of the Drill Holes Note: The open pit shell is based on constraints used in the MRE as presented in the Copper Creek Technical Report1. Figure 2: Cross Section Showing Drill Holes FCD-25-111 and FCD-25-112 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-25-104 6.10 33.56 27.46 18 0.50 0.05 1.48 0.0010 FCD-25-107 7.68 12.00 4.32 4 0.75 N/A 0.42 0.0003 and 65.92 76.00 10.08 7 3.62 0.02 6.02 0.0047 FCD-25-109 60.44 71.14 10.70 8 0.57 N/A 0.39 0.0009 FCD-25-111 3.55 42.45 38.90 28 0.51 N/A 0.15 0.0011 including 9.14 18.75 9.61 7 0.84 N/A 0.12 0.0012 FCD-25-112 0.00 12.83 12.83 9 0.16 N/A 0.20 0.0022 FCD-25-106 No significant results FCD-25-110 No significant results 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-25-104 548142 3624821 1,235 300 50 Copper Giant North 254.8 83.58 FCD-25-106 548066 3624780 1,225 306 45 Copper Giant North 437.4 143.50 FCD-25-107 547736 3624780 1,281 075 45 Globe oxide 260.4 85.44 FCD-25-109 547736 3624780 1,281 111 45 Globe oxide 294.1 96.50 FCD-25-110 547736 3624780 1,281 337 45 Globe oxide 219.9 72.15 FCD-25-111 547677 3624910 1,275 140 45 Globe oxide 232.6 76.32 FCD-25-112 547677 3624910 1,275 350 45 Globe oxide 165.4 54.25 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. Copper mineralized samples were also analyzed for acid and cyanide soluble copper. 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"). Notes 1 The Mineral Resource Estimate is 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, available on the Company's website at and on the Company's SEDAR+ profile at About Faraday Copper Faraday Copper is an 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, CFAVice President, Investor Relations & CommunicationsFaraday Copper Corp.E-mail: info@ To receive news releases by e-mail, please register using the Faraday website at 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 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 and the timing of the MRE and PEA. 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 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 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 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. SOURCE: Faraday Copper Corp. View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
12-05-2025
- Business
- Yahoo
Faraday Copper Reports First Quarter 2025 Financial Results
VANCOUVER, BC / / May 12, 2025 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY) announces its financial results for the three months ended March 31, 2025. Highlights Year to Date Announced discovery of blind Winchester Breccia and expansion of near-surface mineralization in the American Eagle Area and provided a corporate update on May 6, 2025. Reported 56.57 metres ("m") at 0.59% copper at the Boomerang breccia and 18.49 m at 0.98% copper at the Banjo breccia on March 19, 2025. Reported positive metallurgical results confirming high copper recovery through coarse grind and flotation on February 20, 2025. Reported 47.95 m at 0.74% copper within 304.40 m at 0.35% copper in the American Eagle Area on January 30, 2025. Reported 40.06 m at 0.78% copper within 109.42 m at 0.41% copper at the Boomerang breccia and expanded near-surface mineralization on January 8, 2025. Continued baseline environmental data collection, stakeholder mapping, and generative exploration targeting at the Copper Creek Project to provide a pipeline of future targets through ongoing geological mapping and recently reprocessed and newly acquired geophysical data. Upcoming Copper Creek Project Milestones Ongoing results from the Phase III drill program. Updated technical report near the end of the third quarter of 2025. Copper Creek Project Update With extensive historical exploration, over 200,000 m of drilling and modest past production, significant exploration upside remains. There are several hundred known breccia occurrences mapped at the surface, of which less than 20% have been drill tested and only 17 are included in the MRE. In the Phase II drill program, assay results confirmed the potential for gold to occur in economic concentrations in certain phases of the mineralization. Gold is not currently included in the MRE. A sampling program to gather sufficient data coverage for potential gold inclusion in future technical studies is largely complete. The results from the Childs Aldwinkle and Copper Prince breccias, as well as the Keel underground zone, have been returned and released. The Company continues to evaluate other areas for potential inclusion of gold in future mineral resource updates. The Company has reported results from a metallurgical program focused on grind size optimization that demonstrated the viability of coarse particle flotation, gold recoveries in concentrate and test work on near surface oxide mineralization. The Company is focusing on exploration at the property while continuing to advance technical studies, environmental data gathering, and stakeholder outreach. Phase III drilling was completed in mid-April 2025 with 79 drill holes and 30,069 m of drilling. In total, 63 holes have been released. Remaining assay results are expected from the American Eagle area and district exploration targets and will be released as they are received, analyzed and confirmed by the Company. The program's framework was based on historical work, knowledge from the geological and recently updated structural model, the results from the Phase I and Phase II drill programs, geophysical and airborne spectral data sets, and economic criteria defined in the PEA base case. The focus of drilling was on the near-surface mineralization in the American Eagle, Area 51 and Rum areas. To date, through the combined Phase II and Phase III drill programs, which are not included in the MRE or PEA, the Company has released results from 91 drill holes as follows: 63 drill holes were drilled on new targets that are entirely outside of the resource boundary; 21 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 has awarded scopes of work to independent consultants to deliver an updated MRE and PEA near the end of the third quarter of 2025. The updated MRE will incorporate drill results from the Phase II and Phase III drill programs, including approximately 40,000 m of additional drilling compared to the current MRE. In addition, all existing data is being integrated into a technical framework to inform the updated MRE and PEA. Financial Results In Canadian dollars Three months ended March 31, 2025 March 31, 2024 Exploration and evaluation expenses $ 6,484,508 $ 4,464,210 General and administration $ 681,672 $ 695,542 Share-based compensation $ 384,126 $ 269,617 Net loss $ 7,820,431 $ 5,499,835 Basic and diluted loss per share $ 0.04 $ 0.03 Note: The financial information in this table was selected from the Company's condensed interim consolidated financial statements for the three months ended March 31, 2025 (the "Financial Statements"), which are available on SEDAR+ at and the Company's website Selected Financial Information In Canadian dollars March 31, 2025 December 31, 2024 Cash and cash equivalents $ 7,551,568 $ 17,003,895 Property and equipment $ 18,179,077 $ 18,037,072 Resource properties $ 4,955,328 $ 4,955,328 Total assets $ 31,347,122 $ 40,578,185 Note: The financial information in this table was selected from the Financial Statements, which are available on SEDAR+ at and the Company's website Cash Flow, Liquidity and Capital Resources The Company is a resource exploration-stage company and does not generate any revenue and has been mainly relying on equity-based financing to fund its operations. As at March 31, 2025, the Company had cash and cash equivalents of $7,551,568 (December 31, 2024 - $17,003,895) and current assets less current liabilities of $5,558,483 (December 31, 2024 - $13,129,205). During the three months ended March 31, 2025, cash used in operating activities was $9,253,611 (2024 - $5,767,179), cash used in investing activities was $222,601 (2024 - $393,496), and cash provided by financing activities was $35,200 (2024 - cash used of $10,486). The Company will need to raise additional funding to finance its day-to-day operations and to enable the Company to achieve its long-term business objectives. On May 30, 2024, the Company completed an equity-based financing for net proceeds of $22,138,253, which included share issuance costs of $861,747, to fund its operations. About Faraday Copper Faraday Copper is an 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, CFAVice President, Investor Relations & CommunicationsFaraday Copper Corp.E-mail: info@ 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 statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning the future drilling and exploration potential of the Copper Creek property and timing of future technical reports. 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 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 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 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 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. SOURCE: Faraday Copper Corp. View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-03-2025
- Business
- Yahoo
Faraday Copper Intersects 56.57 Metres at 0.59% Copper at Boomerang and 18.49 m at 0.98% Copper at Banjo
VANCOUVER, BC / / March 19, 2025 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY)(OTCQX:CPPKF) is pleased to announce the results of seven drill holes from its ongoing Phase III drill program at the Copper Creek Project, located in Arizona ("Copper Creek"). Three holes were drilled in the American Eagle area, three in the Rum area and one in the Horsecamp area. Paul Harbidge, President and CEO, commented "These results continue to expand the near surface mineralization in the American Eagle area, further validating the potential to define a significant open pit mineral resource in this area and unlock further economic value for the project. Drilling at the Rum and Horsecamp areas confirmed our thesis that these mineral systems are exposed at a shallow level and we see exploration potential at depth. We expect to deliver the updated mineral resource estimate and technical study in the second half of 2025, which will include nearly 40,000 metres of additional drilling from the Phase II and III programs." Highlights At the Southern margin of the Banjo breccia, drill hole FCD-24-094 intersected multiple mineralized intervals, providing further confidence in the potential to define a significant open pit mineral resource in the American Eagle area. Drill results include: 18.49 metres ("m") at 0.98% copper and 1.64 grams per tonne ("g/t") silver from 198.00 m, within 80.90 m at 0.44% copper and 0.99 g/t silver from 135.61 m. 30.00 m at 0.25% copper and 0.93 g/t silver from 9.00 m in porphyry vein-hosted mineralization. 56.57 m at 0.59% copper and 1.58 g/t silver from 427.29 m within 139.49 m at 0.32% copper and 1.01 g/t silver from 365.27 m. This intercept corresponds to the Boomerang breccia and surrounding porphyry vein-hosted mineralization. At Rum, drill hole FCD-24-095 intersected 19.74 m at 0.83% oxide copper from surface in porphyry and breccia. (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 signatures (Figures 1 to 3). These surface expressions locate above the large underground porphyry mineral resource1, 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 twenty-three drill holes2 from this area as part of the current program. 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. Drill hole FCD-24-094 was collared 100 m northeast of the American Eagle breccia and drilled to the southeast targeting the Boomerang breccia at the southern margin of Banjo. The hole intersected hydrothermal breccia from 155 m to 213 m and from 445 m to 485 m whereas the remainder of the drill hole was granodiorite. Alteration associated with breccia intervals is sericitic whereas kaolinite and sericite are associated with porphyry-style veins outside the breccias. Mineralization occurs as chalcopyrite in breccia cement, disseminated as well as in porphyry-style veins. Drill hole FCD-24-093 was collared 60 m west of Banjo and drilled to the northeast. It targeted a breccia, which crops out approximately 70 m north of the Banjo breccia. Granodiorite is the dominant lithology to 110 m, followed by igneous cemented breccia with variable hydrothermal overprint to 135 m. A porphyry dyke was intersected from 135 m to 137 m after which the hole entered granodiorite to the end of hole. The alteration associated with the breccia interval is sericite-kaolinite. Chalcopyrite is the dominant copper mineral and occurs together with pyrite in breccia cement and porphyry-style veins. Drill hole FCD-24-097A was collared 160 m southeast of the American Eagle breccia and drilled to the south, targeting the Prada breccia. The hole starts in igneous cemented breccia for the top 21 m followed by hydrothermal breccia. From 34 m to 113 m the dominant lithology is granodiorite, followed by porphyry to 129 m. From there to the end of the hole hydrothermal breccia is the dominant lithology. Alteration associated with breccia is quartz-sericite with variable amounts of kaolinite and tourmaline. Chalcopyrite occurs together with variable amounts of pyrite forming breccia cement. The Rum area is located approximately 700 m northwest of the resource area (Figure 1). It features several breccias and porphyries intruding Glory Hole volcanics over an area of approximately 250 m by 400 m. Copper oxide and secondary sulphide mineralization is observed near surface in breccias and surrounding wall rock. Drill hole FCD-24-095 was collared in porphyry, approximately 10 m from the Rum breccia contact and drilled to the east. It intersected 14 m of porphyry, followed by hydrothermal breccia to 53 m. The hole enters porphyry thereafter to 114 m, followed by Glory hole volcanics to the end of the hole. The uppermost 53 m of the hole are affected by sericite-kaolinite alteration and oxidation related to weathering, penetrates to approximately 70 m depth. Copper mineralization occurs in the form of malachite, chrysocolla and local chalcocite. Silver values greater than 1 g/t in hydrothermal breccia are observed from 27 m to 53 m. Drill hole FCD-24-086 was collared northwest of the Rum breccia and drilled to the southeast. It intersected Glory Hole volcanics for the first 150 m followed by hydrothermal breccia to 220 m. The hole then intersected porphyry to 284 m and Glory Hole volcanics until 370 m. Hydrothermal breccia dominates thereafter to the end of the hole. The upper hydrothermal breccia domain is characterized by sericite and lesser-chlorite alteration and abundant pyrite cement whereas the lower domain is kaolinite-sericite altered with pyrite cement. Drill hole FCD-24-092 was collared west of the Rum South breccia and drilled to the east. It intersected Glory Hole volcanics to 93 m followed by porphyry to 104 m. From 104 m to 214 m breccia dominated with some intervals of porphyry. The hole then enters Glory Hole volcanics to 289 m and granodiorite to the end of the hole. Breccia is associated with sericite and kaolinite alteration and contains pyrite and chlorite in the cement. Elevated silver, together with other pathfinder elements, is observed from 120 m to 214 m, which is suggestive of copper mineralization at depth. The Horsecamp area is located approximately 2.5 km southwest of the Rum area. Several hydrothermal breccias crop out in the area (Figure 1). These are part of the Western Breccia trend to the west of the resource area. Geology and alteration characteristics of the area suggest that the shallow parts of hydrothermal systems are preserved in the area which suggests exploration potential exists at depth. Drill hole FCD-24-090 is the first reconnaissance drill hole targeting a breccia zone in the Horsecamp area, approximately 2.5 km southwest of the Rum area. The hole intersected mostly Glory Hole volcanics with narrow porphyry dykes and igneous cemented breccias present between approximately 200 m and 312 m. Intercepts of hydrothermal breccia are present at 360 m to 363 m, 389 m to 392 m, 402 m to 413 m and 436 m to 441 m. Alteration is moderate to locally intense sericite with biotite-potassium feldspar and actinolite present in the lower half of the drill hole. Pyrite occurs throughout the hole but increases with depth. Trace amounts of chalcopyrite have been recorded between 250 m and 310 m. The results from this hole will inform future drill planning in this area. Next Steps Phase III drilling commenced in October 2023 and has been focused on near-surface mineralization in new targets, primarily within the American Eagle area. The Company will have completed nearly 40,000 metres of incremental drilling beyond the current Mineral Resource Estimate ("MRE")1, which represents a significant opportunity to enhance the project value. Remaining assay results are expected from the American Eagle area and district exploration targets and will be released as they are received, analyzed and confirmed by the Company. The Company anticipates the release of an updated technical study in the second half of 2025. Figure 1: Plan View Showing Surface Geology and Location of Drill Holes Note: The open pit shell is based on constraints used in the MRE as presented in the Copper Creek Technical Report1. Figure 2: Plan View Showing Surface Geology and Location of Drill Holes in the American Eagle Area Note: The open pit shell is based on constraints used in the MRE as presented in the Copper Creek Technical Report1. Figure 3: Isometric View Showing Phase III Drill Holes in the American Eagle Area Note: The open pit shell and underground footprint are based on constraints used in the MRE as presented in the Copper Creek Technical Report1. For drill holes not reported herein, refer to news releases on the Company's website at and on the Company's SEDAR+ profile at 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-24-093 115.23 178.08 62.85 62 0.18 N/A 0.45 0.0006 Including 115.23 131.20 15.97 10 0.33 N/A 0.69 0.0005 FCD-24-094 9.00 39.00 30.00 30 0.25 N/A 0.93 0.0008 and 135.61 216.51 80.90 30 0.44 N/A 0.99 0.0009 Including 198.00 214.49 18.49 7 0.98 N/A 1.64 0.0005 and 365.27 504.96 139.49 139 0.32 N/A 1.01 0.0007 Including 427.29 483.86 56.57 56 0.59 N/A 1.58 0.0010 FCD-24-095 0.00 19.74 19.74 19 0.83 N/A 0.40 0.0002 FCD-24-097A 40.45 57.12 16.67 9 0.16 N/A 0.92 0.0010 and 143.30 223.81 80.51 40 0.26 N/A 0.97 0.0007 including 177.22 207.31 30.09 15 0.38 N/A 1.51 0.0009 and 389.29 407.55 18.26 9 0.45 0.01 1.29 0.0021 FCD-24-086 No significant results FCD-24-090 No significant results FCD-24-092 No significant results 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-24-093 549112 3623535 1337 072 50 Banjo North 721.9 236.83 FCD-24-094 549100 3623423 1307 120 70 Banjo South and Boomerang 1539.1 504.96 FCD-24-095 547278 3625760 1399 100 45 Rum 441.3 144.78 FCD-24-097A 549128 3623275 1295 185 60 Prada 1336.9 438.61 FCD-24-086 547084 3625868 1386 105 45 Rum 1372.2 450.19 FCD-24-090 546084 3625173 1294 190 45 Horsecamp 1530.1 502.01 FCD-24-092 547140 3625675 1414 90 45 Rum South 905.1 296.96 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"). Notes 1 The Mineral Resource Estimate is 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 and on the Company's SEDAR+ profile at 2For drill holes not reported herein, refer to news releases on the Company's website at on the Company's SEDAR+ profile at About Faraday Copper Faraday Copper is an 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, CFAVice President, Investor Relations & CommunicationsFaraday Copper Corp.E-mail: info@ To receive news releases by e-mail, please register using the Faraday website at 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 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 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 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 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. SOURCE: Faraday Copper Corp. View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
11-03-2025
- Business
- Yahoo
Faraday Copper Reports 2024 Financial Results
VANCOUVER, BC / / March 11, 2025 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY) announces its financial results for the year ended December 31, 2024. Highlights: 2024 and 2025 to Date Reported positive metallurgical results confirming high copper recovery through coarse grind and flotation on February 20, 2025. Reported 47.95 metres ("m") at 0.74% copper within 304.40 m at 0.35% copper in the American Eagle Area on January 30, 2025. Reported 40.06 m at 0.78% copper within 109.42 m at 0.41% copper at the Boomerang breccia and expanded near-surface mineralization on January 8, 2025. Reported 23.25 m at 1.58% copper within 57.73 m at 0.85% copper in the Rum Area on November 19, 2024. Reported 22.65 m at 1.31% copper within 50.20 m at 0.74% copper near surface at the Banjo breccia, on October 17, 2024. Reported 117.83 m at 1.12% copper within 259.98 m at 0.68% copper at the Banjo breccia, on September 24, 2024. Reported 117.90 m at 1.01% copper within 269.65 m at 0.64% copper, the discovery hole for the high-grade Banjo breccia in the American Eagle area, on August 21, 2024. Reported 29.08 m at 0.62% copper within 190.25 m at 0.23% copper in at the Prada breccia in the American Eagle area, on July 25, 2024. Reported 20.07 m at 1.20% copper within 100.29 m at 0.42% copper in the American Eagle area, on June 25, 2024. Completed a bought deal financing for a total of 28,750,000 common shares sold at a price of $0.80 per common share for aggregate gross proceeds to the Company of $23,000,000, on May 30, 2024. Reported 42.05 m at 0.41% copper expanding the near surface mineralization at Area 51, on May 14, 2024. Reported new gold assay results from the Keel Zone including 0.28 g/t gold and confirming 1.34% copper over 103.64 m, on May 7, 2024. Announced approval from the Bureau of Land Management for Notice of Intent to conduct drilling at the Copper Creek Project, on May 2, 2024. Reported 117.00 m at 0.40% copper near surface, including 23.37 m at 0.60% copper at Old Reliable and drilling success continuing at Area 51, on April 10, 2024. Reported positive metallurgical results for the Copper Creek Project demonstrating over 95% copper recoveries at coarse grind sizes and high-quality copper concentrate, on February 26, 2024. Reported 163.11 m at 0.85% copper within 380.60 m at 0.62% copper in the American Eagle, on February 21, 2024. Reported new mineralized breccias (Starship and Eclipse) 800 m southeast of the existing mineral resource, on January 16, 2024 and March 4, 2024, respectively. Continued baseline environmental data collection, stakeholder mapping, and generative exploration targeting at the Copper Creek Project to provide a pipeline of future targets through ongoing geological mapping and recently reprocessed and newly acquired geophysical data. Upcoming Copper Creek Project Milestones Ongoing results from the Phase III drill program Updated technical report in the second half of 2025 Copper Creek Project Update With extensive historical exploration, over 200,000 m of drilling and modest past production, significant exploration upside remains. There are several hundred known breccia occurrences mapped at surface, of which less than 20% have been drill tested and only 17 are included in the MRE. In the Phase II drill program assay results confirmed the potential for gold to occur in economic concentrations in certain phases of the mineralization. Gold is not currently included in the MRE. A sampling program to gather sufficient data coverage for potential gold inclusion in future technical studies is largely complete. The results from the Childs Aldwinkle and Copper Prince breccias, as well as the Keel underground zone have been returned and released. The Company continues to evaluate other areas for potential inclusion of gold in future mineral resource updates. The Company has reported results from a metallurgical program focused on grind size optimization that demonstrated the viability of coarse particle flotation, gold recoveries in concentrate and test work on near surface oxide mineralization. The Company is focusing on exploration at the property while continuing to advance technical studies, environmental data gathering, and stakeholder outreach. The ongoing Phase III drill program commenced in the fourth quarter of 2023. The program's framework is based on historical work, knowledge from the geological and recently updated structural model, the results from the Phase I and Phase II drill programs, geophysical and airborne spectral data sets, and economic criteria defined in the PEA base case. The current focus of drilling is on the 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 MRE or PEA, the Company has released results from 79 drill holes as follows: 51 drill holes were drilled on new targets that are entirely outside of the resource boundary; 21 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 m of incremental drilling in a resource update planned for 2025 and anticipates a data cut-off by the end of the first quarter of 2025 and the release of an updated technical study in the second half of 2025. Financial Results Three months ended Year ended In Canadian dollars December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Exploration and evaluation expenses $ 6,382,930 $ 4,383,565 $ 18,647,345 $ 15,418,067 General and administration $ 866,769 $ 793,833 $ 2,788,976 $ 2,345,713 Share-based compensation $ 246,796 $ 277,676 $ 1,109,075 $ 2,163,404 Net loss $ 7,280,515 $ 5,284,930 $ 22,548,709 $ 20,499,964 Basic and diluted loss per share $ 0.04 $ 0.03 $ 0.12 $ 0.12 Note: The financial information in this table was selected from the Company's consolidated financial statements for the years ended December 31, 2024 (the "Financial Statements"), which are available on SEDAR+ at and the Company's website Selected Financial Information In Canadian dollars December 31, 2024 December 31, 2023 Cash and cash equivalents $ 17,003,895 $ 14,901,206 Property and equipment $ 18,037,072 $ 16,278,872 Resource properties $ 4,955,328 $ 4,955,328 Total assets $ 40,578,185 $ 36,592,286 Note: The financial information in this table was selected from the Financial Statements, which are available on SEDAR+ at and the Company's website Cash Flow, Liquidity and Capital Resources The Company is a resource exploration-stage company and does not generate any revenue and has been mainly relying on equity-based financing to fund its operations. As at December 31, 2024, the Company had cash and cash equivalents of $17,003,895 (December 31, 2023 - $14,901,206) and current assets less current liabilities of $13,129,205 (December 31, 2023 - $12,793,784). During the year ended December 31, 2024, cash used in operating activities was $19,562,551 (2023 - $18,987,196), cash used in investing activities was $501,182 (2023 - $14,665,092), and cash provided by financing activities was $22,178,253 (2023 - cash provided $39,513,767). Cash used in investing activities for both Fiscal 2024 and 2023 was primarily related to the purchase of land at the Copper Creek Project. The Company will need to raise additional funding to finance its day-to-day operations and to enable the Company to achieve its long-term business objectives. On May 30, 2024, the Company completed an equity-based financing for net proceeds of $22,138,253, which included share issuance costs of $861,747, to fund its operations. On February 14, 2023, the Company completed an equity-based financing for net proceeds of $38,437,854, which included share issuance costs of $1,561,906, to fund its operations. About Faraday Copper Faraday Copper is an 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, CFAVice President, Investor Relations & CommunicationsFaraday Copper Corp.E-mail: info@ 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 statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning the future drilling and exploration potential of the Copper Creek property and timing of future technical reports. 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 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 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 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 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. SOURCE: Faraday Copper Corp. View the original press release on ACCESS Newswire Sign in to access your portfolio
Globe and Mail
20-02-2025
- Business
- Globe and Mail
Faraday Copper Announces Positive Metallurgical Results and Confirms High Copper Recovery Through Coarse Grind and Flotation
VANCOUVER, BC / ACCESS Newswire / February 20, 2025 / Faraday Copper Corp. (" Faraday" or the " Company") (TSX:FDY)(OTCQX:CPPKF) is pleased to announce the results of its metallurgical program for the Copper Creek project in Arizona ("Copper Creek"). The metallurgical program utilized samples from the Phase III drill program and was conducted by ALS Metallurgy (Kamloops, BC), with oversight by Ausenco Engineering. The primary focus of the program was to evaluate the metallurgical performance of potential open pit mill feed material from the American Eagle area through coarse particle flotation across an extended spectrum of grind sizes. Application of a coarse grind and coarse particle flotation offers the potential to significantly increase mill throughput and reduce processing cost, compared to those contained in the Copper Creek Preliminary Economic Assessment ("PEA") 1. This metallurgical program tested samples and composites from open pit domains by blending material types to determine performance ranges under various mill feed conditions. Expanding upon previous test work on the current resource area, the program was designed for comprehensive data collection related to grind size optimization, mineralogical composition, variability testing, conventional flotation and coarse particle flotation via hydrofloat. Highlights Achieved copper rougher recoveries 2 of 95.0% on a sulphide composite from the American Eagle area at a substantially larger grind size 3 than that assumed in the PEA by applying Coarse Particle Flotation ("CPF"), resulting in the following potential benefits: Coarse grind and CPF can be used to maintain high copper recoveries across a full spectrum of feed grades. Applying a 350 micron ("µm") primary grind with CPF scavenging returns comparable copper recovery to a conventional flotation circuit with a 200 µm primary grind 3. Significant increase to mill throughput. Reduced ball mill grinding energy by approximately 50%. Continued to demonstrate excellent metallurgical performance on samples from the near-surface material at the American Eagle area, measuring locked cycle copper recoveries above 92% to a copper concentrate grade of approximately 31% copper. Metallurgical test work confirms a coarse grind and high copper recovery flowsheet with a highly marketable, clean concentrate. Data for the entire deposit supports the potential for low capital intensity and a favourable operating cost profile. This data will underpin future technical studies. Zach Allwright, VP Projects and Evaluations, stated "The metallurgical results represent a pivotal point in the technical advancement of Copper Creek. The ability to maintain very high copper recoveries at a coarse primary grind across a wide range of feed grades demonstrates the near-term potential for enhanced project economics. The test work completed to date demonstrates that the mill throughput rate could be significantly increased in a capital efficient manner, while reducing operating costs and reinforcing our commitment to sustainability. We are excited to incorporate our recent drilling success and optimized flowsheet approach into an updated technical study in the second half of 2025." Next Steps The outcomes of this program will be assimilated with historical test work to form the basis of the flowsheet design criteria and infrastructure considerations for future technical studies. The steps to continue to enhance the value of the project include: Exploration Drilling: Phase III drilling continues and is focused on growth of the open pit mineral resource. The Company has conducted over 30,000 metres of drilling since the last Mineral Resource Estimate was published 1, with the discovery of new zones of mineralization and a portfolio of untested targets, this represents a significant opportunity to enhance the project value. Metallurgical Assessments: Test work will continue on new targets, as material becomes available, to maintain deposit-wide data coverage and ensure optimization opportunities are realized in future technical studies. Mineral Resource and Technical Report: The Company anticipates a data cut-off by the end of the first quarter of 2025 and the release of an updated technical study in the second half of 2025. This report will incorporate updated geological, geotechnical, economic and metallurgical datasets. Waste Rock Characterization: To complement existing material geochemical data and evaluations, laboratory and field-based characterization programs will take place to optimize waste management strategies. Environmental Data: The Company continues to expand its environmental baseline data collection program including water sampling, installation of additional monitoring wells, stream gauges, and piezometers in drill holes. The program also encompasses site-specific meteorological and air data collection, along with archaeological, cultural, flora and fauna studies. Metallurgical Program Technical Details Overview The metallurgical program utilized samples from the Phase III drill program, to complement and expand upon previous test work as outlined in the PEA 1. The metallurgical program was conducted by ALS Metallurgy (Kamloops, BC), with oversight by Ausenco Engineering. This test work program was designed to complete the following scope with focus on the potential open pit mill feed material: Semi-Autogenous Grinding ("SAG") mill comminution and Bond Mill Work Index ("BMWi") testing completed on all samples. Mineralogical composition assessment on eight sulphide variability samples. Detailed mineralogy particle mineral analysis completed on sulphide master composite and coarse fractions of CPF sulphide composite. Flotation testing on sulphide composites and variability samples. Hydrofloat testing on a CPF sulphide composite. The outcomes of this program will be integrated with the historical test work to form the basis of the process design criteria for the updated technical study expected to be released in the second half of 2025. Sample Selection and Spatial Context The metallurgical program comprised seven samples representing potential open pit material at the American Eagle area and Area 51, and one sample from Old Reliable. Two composites were compiled to challenge metallurgical performance and demonstrate deposit-wide application of coarse particle flotation. The American Eagle master composite was compiled from sulphide materials to reflect a lower grade composite than previously tested sulphide composites. The American Eagle area CPF composite was designed to reflect a lower grade mill feed scenario and a blend of approximately 50:50 breccia with vein-hosted mineralized material. Samples were acquired from the Phase III drill program, which is focused on expansion of near-surface mineral resources in the American Eagle area. Sample details are presented in Table 1 and sample locations are presented in Figure 1 below. Table 1: Phase 3 Metallurgical Sample Details Figure 1: Sample Locations Comminution Results SAG and ball mill energy assessment tests were conducted on the variability samples, which included industry standard SAG mill comminution and BMWi measurements, respectively. Results of the Phase 3 program and previous phases are presented in Table 2 below. Table 2: Comminution Results Material A x b BMWi (kwh/t) Min / Max Average Min / Max Average Sulphide - Phase 1 37 / 51 41 12.2 / 15.6 14.3 Sulphide - Phase 2 30 / 44 37 12.3 / 14.3 13.3 Sulphide - Phase 3 28 / 45 38 13.5 / 15.3 14.1 The outcomes of the comminution test work indicate that the new materials fall within the design tolerances of the PEA. The Old Reliable sample showed a higher resistance to impact breakage with an Axb value of 28, however the American Eagle area and Area 51 were similar to previous results. The BMWi results were similar to the averages measured in the previous programs, demonstrating consistent comminution expectations across the known deposits. Flotation Performance - Sulphide Material Flotation testing on the American Eagle area master composite ("MC") culminated in a locked cycle test conducted at a primary grind size of 218 µm. Similar process conditions to the locked cycle test conducted in the Phase 2 program were applied to the Phase 3 program. Results are presented in Table 3 below. Table 3: Locked Cycle Test Results The American Eagle area master composite returned similar metallurgical performance as the two sulphide composites from the current open pit resource that were previously tested (refer to the Company's news release dated February 26, 2024). Compared to the previously tested sulphide composites, the difference in copper recoveries can be attributed to the lower feed grade and slightly higher losses to the cleaner tailings. The near-surface samples of the American Eagle area have lower modelled molybdenum concentrations than at depth and in other areas of the deposit, and as a result, molybdenum recovery was not tracked in these flotation tests. Open circuit cleaner flotation tests were conducted on each of the variability samples. The developed conditions were applied, which included low dosages of potassium amyl xanthate ("PAX") as a collector, regrinding and up to three stages of dilution cleaning. Moderate dosages of lime were applied in the cleaner circuit. Chalcopyrite is the dominant copper-bearing sulphide and occurs together with minor amounts of bornite; both recover well in a flotation circuit. This chalcopyrite dominant mineralization is representative of the American Eagle area and the wider open pit resource. Area 51 samples (24-MET01 and 24-MET02) contain chalcocite together with bornite, chalcopyrite and pyrite (Figures 1 and 5), which explains the different performance compared to the American Eagle area. Copper concentrate grades averaged 26% copper when including vein-hosted material from the American Eagle area and pyrite and chalcocite-rich breccia material from Area 51. Results are presented in Table 4 below. Table 4: Phase 3 Cleaner Flotation Results Molybdenum recovery was not targeted or tracked in a portion of these flotation tests as the feed grade was deemed too low to result in appreciable upgrading to the bulk flotation concentrate. Only two samples contained significant levels of molybdenum. In these two tests molybdenum recovery to the bulk concentrate averaged 89.1%. Coarse Grind and CPF Performance Overview Flotation performance at coarse primary grind sizes was investigated using conventional 4-litre and 30-litre Denver-type laboratory flotation cells, and a lab scale Eriez Hydrofloat cell. A composite was assembled with a greater portion of MET-07 sample (vein hosted mineralization), so that the feed material was lower grade, therefore, resulting in a more challenging composite for achieving high copper recoveries. CPF is a technique that combines the upward flow of a hydrosizer with flotation bubbles to recover coarse mineralized particles that would otherwise report to tailings in conventional froth flotation. It can be applied in a scavenging application on rougher flotation tails that have passed through hydrocyclone size separation to remove lower grade fine material. The coarse material enters a hydrofloat cell, which recovers a coarse scavenger concentrate. The thickened underflow, depleted of any fines, is essentially free-draining and can be dewatered using a low energy system such as a sieve bend screen or a high-capacity belt filter. Two bulk rougher flotation tests with hydrofloat scavenging were conducted on the Phase 3 CPF composite at primary grind sizes ranging from 300 µm to 330 µm. In addition, four conventional bench scale flotation tests were conducted over a wider primary grind size range. Results are presented in Table 5 and Figure 2, along with results from the Phase 2 program for comparison. Note that the Phase 2 composite originated from zones further north that were comprised of higher-grade samples and contained less vein hosted material. Table 5: CPF Results Summary Sample Test Primary Grind (µm P80) Copper Feed Grade (%) Copper Recovery (%) % of Rougher Tails to Hydrofloat Tails Conventional Rougher Hydrofloat Contribution Net Rougher Phase 2 CPF Composite T21 192 0.70 97.5 - 97.5 - T20 242 0.70 97.1 - 97.1 - T19 295 0.70 94.4 - 94.4 - P1 356 0.67 94.9 2.5 97.4 42.4 P2 445 0.75 93.4 2.8 96.2 45.3 P3 431 0.67 92.6 3.3 95.9 44.1 Phase 3 CPF Composite T29 212 0.38 95.6 - 95.6 - T28 318 0.37 92.8 - 92.8 - T26 305 0.38 91.9 4.7 96.6 39.5 T30 330 0.36 90.2 4.7 95.0 29.6 T31 375 0.38 89.2 5.9 95.0 35.9 T32 429 0.37 86.1 7.7 93.8 41.7 Notes to Table 5: 1. In tests with hydrofloat, conventional rougher tailings were classified such that approximately 50% of the mass reported to a +150 µm or +212 µm fraction with elevated copper levels. These coarse tailings were then treated in a laboratory hydrofloat cell which recovered an additional coarse concentrate. 2. Only the conventional rougher component of T31 and T32 were completed, hydrofloat results were estimated from assay by size data and T26 and T30 hydrofloat performance. CPF performance confirms that a coarser grind can be applied to material originating from the American Eagle area without compromising copper recoveries. CPF may provide a greater recovery benefit to lower grade feeds that have more disseminated chalcopyrite textures, as demonstrated by the difference in performance compared to the Phase 2 composite. Applying CPF scavenging on the rougher tails of a 350 µm primary grind appears to return the same overall rougher circuit copper recovery as a conventional flotation circuit with a 200 µm primary grind as proposed in the PEA. The CPF concentrate requires regrinding prior to returning to the rougher feed or similar conventional flotation stage. A simplified flowsheet incorporating CPF is presented in Figure 3. Additional grinding energy is only applied to a targeted 6% of the feed mass returning as CPF concentrate. While the incremental copper recovery improvement is modest, a significant benefit of the CPF circuit is removing tonnage from the tailings pressure filtration circuit. In this arrangement, approximately 57% of the total mill tailings report to the fines dewatering circuit. The free-draining hydrofloat tailings can be dewatered by more cost effective means 1 such as a dewatering screen or a belt filter. The tailings processing opportunity of this flowsheet is presented in Figure 4. Preliminary results suggest that a CPF circuit could potentially allow for an increase in throughput to 45,000 tonnes per day or more without increasing the tailings pressure filtration requirements 1. Concentrate Quality Final bulk concentrates were assayed for minor elements of interest. Results are presented in Table 6 below. Two of the sulphide variability samples produced concentrates that contained sufficient molybdenum levels to support the inclusion of a copper-molybdenum separation circuit. The project considers that generation of a molybdenum concentrate may not be consistent over the mine life as not all areas are expected to have sufficient molybdenum in the feed. The proposed flowsheet and operation strategy incorporates flexibility to accommodate a molybdenum circuit that can be engaged in response to mill feed grade to maximize project value. Gold in concentrate was elevated in sample MET-01, which was comprised of breccia hosted mineralization from the Starship breccia in Area 51. Gold contents in the American Eagle area concentrates were below minimum payable levels on average, while silver contents varied and were significant in some samples. All arsenic contents were below penalty level limits and confirm previous test work, which concluded that the project demonstrated the potential to output a clean and highly marketable concentrate. Table 6: Concentrate Quality of Variability Samples Note to Table 6: Other penalty elements such as antimony, bismuth and selenium were below penalty limits in the American Eagle area Master Composite. Mercury and fluorine were analyzed in the concentrate of a Phase 1 composite and also found to be low and below levels of smelter sensitivity and were therefore not investigated in this program. Mineralogy Overview Mineralogical composition assessments were completed on the variability samples by QEMSCAN. The results provide valuable confirmation of core logging interpretation and are consistent with geochemical assay results. The copper deportment data helps to understand metallurgical performance. Copper deportment by mineral is presented in Figure 5 below. In the Old Reliable and American Eagle areas, copper is primarily contained in chalcopyrite, with minor amounts of bornite. In the Starship breccia at Area 51, more chalcocite and covellite is present. The ratio of pyrite to copper sulphides can be an important processing parameter, as values below three tend to have lower regrinding energy requirements and positive implications on metallurgical performance. The pyrite to copper sulphide ratios of variability samples are displayed in Figure 6 relative to copper feed grade, along with values from sulphide samples tested in previous programs. Generally, the material is low in pyrite content, with 82% of the sulphide samples tested having ratios of pyrite to copper sulphides of less than 2:1. Only two outliers with elevated pyrite exist in the sample set. These are MET-01 sample from the Starship breccia at Area 51 with elevated pyrite together with chalcocite, bornite and chalcopyrite, and a sample from the Bald zone (Phase 2 metallurgical program) which has pyrite and chalcopyrite. A more detailed particle mineral analysis was conducted on the CPF composite at a primary grind sizing of 318 µm. The liberation characteristics were favourable and supports the metallurgical performance measured in flotation tests. Specifically: The size distribution of the copper sulphide grains was coarse, measured at 149 µm P80 3. Although the overall copper sulphide mineral liberation was approximately 49%, about 87% of the mineral mass was in grains, which contained 50% or more copper sulphide mineral. The high quality of the grains allows for successful bubble attachment in froth flotation. Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by Faraday's Vice President, Projects and Evaluations, Zach Allwright, who is considered a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The information in this news release relating to metallurgical test work results has been supervised, reviewed and verified by Mr. Peter Mehrfert, who is Ausenco Engineering's consultant for Faraday Copper. Mr. Mehrfert is a qualified metallurgist and has sufficient experience, which is relevant to the management and interpretation of test work activities undertaken to qualify as Competent Person under NI 43-101. End Notes 1 Information is presented in comparison with the Preliminary Economic Assessment, which was reported in a technical report titled "Copper Creek Project NI 43-101 Technical Report and Preliminary Economic Assessment" with an effective date of May 3, 2023, available on the Company's website at and on the Company's SEDAR+ profile at 2 Rougher recovery refers to the percentage of valuable minerals recovered in the initial or primary stage of the flotation process. 3 Grind size refers to 350 µm P80 applied to the sulphide composite, compared to 190 µm P80 utilized in the PEA. Grind sizes stated throughout this news release refer to 80% passing ("P80") the specified particle size. About Faraday Copper Faraday Copper is an 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 open pit and bulk underground mining 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: info@ Website: 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 statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning project economics, timing of future Mineral Resource Estimate and Technical Report, the potential mill throughput, the expected copper concentrate quality, the potential for reduction in ball mill grinding energy, the expected copper, molybdenum, silver and gold recoveries, the possibility of adding gold in future Mineral Resource Estimates, capital intensity, the potential to reduce expected processing operating costs, and 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 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 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 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. View the original press release on ACCESS Newswire
