Faraday Copper Discovers Blind Winchester Breccia, Expands Near-Surface Mineralization in the American Eagle Area and Provides Copper Creek Project Update
VANCOUVER, BC / ACCESS Newswire / May 6, 2025 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY)(OTCQX:CPPKF) is pleased to announce the results of five drill holes from its Phase III drill program at the Copper Creek Project, located in Arizona ("Copper Creek"). Four holes were drilled in the American Eagle area and one in the Rum area. The Company is also pleased to provide an update on project activities and next steps at Copper Creek.
Paul Harbidge, President and CEO, commented, "These drill results continue to expand the near-surface mineralization in the American Eagle area, including the discovery of the blind Winchester breccia, which does not outcrop at surface. These results, together with previous Phase III drilling, continue to fill the gap between Mammoth and the American Eagle area and demonstrate that copper mineralization occurs in broad zones outside the high-grade breccias in the American Eagle area."
"Our Phase III drill program was completed in mid-April 2025, with a few pending drill hole assays, and we expect to deliver an updated technical study and mineral resource estimate near the end of the third quarter of this year. We envision the potential for a significant step change in metal output through enhanced project scale, while maintaining low initial capital, long mine life and robust margins. We look forward to providing updates as we advance the project."
Highlights
The discovery of the Winchester breccia supports the potential for identifying additional breccias, which do not outcrop at surface, across the property.
This drill hole was intended to test a gap in drilling between known breccias. It intersected 154.29 metres ("m") at 0.26% copper and 1.07 grams per tonne ("g/t") silver from 302.54 m, including 22.23 m at 0.42% copper and 1.82 g/t silver from 333.20 m in drill hole FCD-25-102.
Intersected near-surface mineralization in the American Eagle area.
At the Jailhouse breccia, intersected 57.87 m at 0.37% copper and 0.94 g/t silver from 38.71 m, including 18.58 m at 0.66% copper and 1.59 g/t silver from 78.00 m in drill hole FCD-25-099.
At the Courthouse breccia, intersected 40.70 m at 0.34% copper and 0.96 g/t silver from 62.62 m, including 28.21 m at 0.42% copper and 1.17 g/t silver from 62.62 m in drill hole FCD-25-100.
Awarded scopes of work to independent consultants to deliver an updated Mineral Resource Estimate and Preliminary Economic Assessment near the end of the third quarter of 2025.
(For true width information see Table 2)
Copper Creek Technical Study Update
The Company has awarded scopes of work to independent consultants to deliver an updated Mineral Resource Estimate ("MRE") and Preliminary Economic Assessment ("PEA") near the end of the third quarter of 2025 (Table 1).
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.
All existing data is being integrated into a technical framework to inform the updated MRE and PEA.
Zach Allwright, VP Projects & Evaluations, commented, "The updated PEA will be a key milestone for the Company. Since the 2023 PEA1, the Company has enhanced the technical datasets across all critical areas, most notably the positive metallurgical results that confirmed high copper recovery through coarse grind and flotation. These results, in conjunction with the additional drilling focused on near-surface resource growth, support the proposed strategy of increasing the scale of the asset, while maintaining a low capital cost profile. The Ausenco, SRK and Call & Nicholas teams continue as the Company's preferred technical specialists due to their quality of work and to maintain continuity of knowledge in the delivery of a technically robust study. We are excited to demonstrate the projects' potential as one of the largest future sources of copper within the United States."
Drill Results Details
Phase III drilling was completed in mid-April 2025 with 79 drill holes and 30,069 metres 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 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 are located above the large underground porphyry mineral resource1. 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 highlighted the potential for near-surface mineralization. The discovery of the Winchester breccia, together with the neighbouring Mammoth breccia, highlights the potential for significant copper mineralization in breccias, which do not outcrop at surface, to be identified. The Company has reported assay results for 27 drill holes from this area as part of the Phase III program (for drill holes not reported herein, refer to news releases on the Company's website and SEDAR+ profile at www.sedarplus.ca). These results provide a broad framework of the geology, structure and alteration and confirm the potential for significant near-surface copper mineralization.
Drill hole FCD-25-099 was collared south of the Jailhouse breccia and drilled to the north. After 8 m of granodiorite, the hole entered hydrothermal breccia to 102 m. Breccia was also intersected from 177 m to 237 m whereas the remainder of the hole drilled granodiorite. Alteration associated with breccia is sericitic with subordinate kaolinite and chlorite. Mineralization occurs as chalcopyrite together with pyrite as breccia cement.
Drill hole FCD-25-100 was collared at the same location as drill hole FCD-25-099 and drilled to the southwest, targeting the Courthouse breccia. It intersected alternating granodiorite, porphyry, igneous cemented breccia and localized hydrothermal breccia to 54 m. Hydrothermal breccia dominates to 132 m, followed by granodiorite to 167 m. The hole entered hydrothermal breccia thereafter to 224 m and porphyry to the end of the hole. Alteration in breccia and the porphyry at the end of the hole is dominantly sericite-kaolinite. Mineralization occurs as chalcopyrite with pyrite in breccia cement and in porphyry-style veins hosted in the porphyry below 224 m downhole.
Drill hole FCD-25-101 was collared at the same location as holes FCD-25-099 and FCD-25-100 and drilled to the northwest. It intersected hydrothermal breccia from surface to 111 m and granodiorite to the end of the hole. Alteration associated with breccia is sericitic with subordinate kaolinite and chlorite. Mineralization occurs as chalcopyrite together with pyrite in breccia cement. Porphyry-style veins containing chalcopyrite and pyrite crosscutting granodiorite are also observed.
Drill hole FCD-24-102 was collared 100 m northeast of the American Eagle breccia and drilled to the northwest. It intersected granodiorite to 127 m followed by hydrothermal breccia to 142 m and porphyry to 176 m. Hydrothermal breccia was intersected to 200 m, followed by granodiorite to 321 m. Hydrothermal breccia dominates thereafter to 438 m with a porphyry interval from 412 m to 427 m. The hole ends in granodiorite. Hydrothermal breccia in the upper 200 m of the hole correlate with surface exposures of the North Ridge breccia 150 m north of American Eagle breccia, whereas the lower interval, approximately 200 m below surface, corresponds to the Winchester breccia which is a blind breccia discovery, not outcropping at surface. Alteration associated with breccia is sericitic with subordinate kaolinite. Mineralization occurs as chalcopyrite together with pyrite in breccia cement as well as porphyry-style veining crosscutting granodiorite. Minor chalcocite occurs with pyrite and chalcopyrite in veinlets from 27 m to 50 m.
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-24-089 was collared approximately 180 m southwest of the Rum breccia and drilled to the southeast, targeting a vein zone cross-cutting a porphyry and the Rum South breccia. The hole intersected volcanics to 74 m, porphyry to 157 m and volcanics to 190 m. Hydrothermal breccia dominates from 190 m to 220 m and the hole terminates in volcanics. Hydrothermal breccia is affected by sericite-kaolinite alteration whereas zones of biotite-hornfels are observed in the volcanics. Pyrite is the dominant sulphide in the breccia cement. The breccia contains elevated silver and pathfinder elements suggesting copper mineralization potential at depth that will be further tested in future drilling.
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 www.faradaycopper.com and on the Company's SEDAR+ profile at www.sedarplus.ca.
Table 1: Summary of Selected External Consultants and Related Scope
Deliverable
Consultant
Location
Scope
MRE
SRK
Denver
Delivery of an updated MRE.
PEA
Ausenco
Vancouver/ Tucson
Technical lead for the optimization of processing plant, dry stack tailings facilities and associated infrastructure design, including economic modelling.
SRK
Vancouver
Mining assessment for open pit and underground, including mine design, sequencing and schedule optimization, mine capital and operating cost estimates.
Call & Nicholas
Tucson
Delivery of geotechnical analysis and mine design parameters for open pit and underground mining.
Table 2: Selected Drill Results
Drill Hole ID
From
To
Length
True Width
Cu
Au
Ag
Mo
(m)
(m)
(m)
(m)
(%)
(g/t)
(g/t)
(%)
FCD-25-099
38.71
96.58
57.87
22
0.37
N/A
0.94
0.0003
Including
78.00
96.58
18.58
7
0.66
N/A
1.59
0.0006
and
173.00
189.00
16.00
6
0.22
N/A
0.68
0.0005
and
225.05
236.57
11.52
4
0.26
N/A
1.15
0.0003
FCD-25-100
62.62
103.32
40.70
17
0.34
N/A
0.96
0.0007
Including
62.62
90.83
28.21
12
0.42
N/A
1.17
0.0003
and
174.32
204.73
30.41
13
0.22
N/A
0.66
0.0004
and
319.20
420.01
100.81
100
0.22
N/A
0.60
0.0006
Including
382.00
392.08
10.08
10
0.49
N/A
1.07
0.0004
FCD-25-101
50.90
77.00
26.10
18
0.32
N/A
1.09
0.0001
FCD-25-102
27.21
50.23
23.02
23
0.18
N/A
0.48
0.0004
and
110.50
140.83
30.33
30
0.30
N/A
0.94
0.0006
and
176.17
209.78
33.61
24
0.44
N/A
0.95
0.0004
Including
191.20
201.84
10.64
8
0.82
N/A
1.74
0.0004
and
302.54
456.83
154.29
109
0.26
0.01
1.07
0.0009
Including
333.20
355.43
22.23
16
0.42
0.01
1.82
0.0007
and including
366.27
390.00
23.73
17
0.40
0.01
1.47
0.0007
FCD-24-089
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 3: Collar Locations from the Drill Holes Reported Herein
Drill Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Target
Depth
Depth
(m)
(°)
(°)
(ft)
(m)
FCD-25-099
548901
3623672
1,219
005
68
Jailhouse breccia
1,286.7
422.15
FCD-25-100
548907
3623670
1,219
245
65
Courthouse breccia
1,280.2
420.01
FCD-25-101
548904
3623675
1,219
340
45
Jailhouse breccia
1,223.5
401.42
FCD-25-102
549098
3623422
1,307
318
45
Winchester breccia
1,446.0
474.42
FCD-24-089
547144
3625676
1,414
106
45
Rum South
682.3
223.85
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, available on the Company's website at www.faradaycopper.com and on the Company's SEDAR+ profile at www.sedarplus.ca.
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".
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Cautionary Note on Forward Looking Statements
Some of the statements in this news release, other than statements of historical fact, are "forward-looking statements" and are based on the opinions and estimates of management as of the date such statements are made and are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual 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 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.
