Graham Richardson, CFO of Faraday Copper (TSX:FDY – OTCQX:CPPKF), joins me to provide a comprehensive exploration overview of the key objectives and targets of the ongoing 40,000 meter Phase 4 drill program, at their 100% owned Copper Creek Project in Arizona. This drilling will be factoring into an updated copper Resource Estimate, and will be combined with other data-collection and metallurgical studies which are all feeding into more advanced project economics.
Half of this Phase 4 drill program will continue to be focused on defining, expanding, and testing new targets all around the American Eagle Area of the Project. Graham and I discuss the follow up plan for a number of key targets at the recently discovered Banjo Breccia and Winchester Breccia, Giuseppe, and Prada. In addition, 10,000 meters will be allocated on true exploration by putting some holes into earlier-stage exploration targets at the Sunrise Trend and Bunker Hill area (which may indicate the presence of a new porphyry system).
Highlights from the first batch of drill holes from Phase 4:
- Five drill holes in the American Eagle area intersected near-surface mineralization above open pit cutoff grade and further the potential for an open pit resource to be defined above the existing American Eagle underground resource.
- Drill hole FCD-25-134 intersected several mineralized intervals for a combined 177 metres (“m”) greater than 0.30% copper, expanding the known extent of the Winchester breccia to within 100 m from surface. Copper intercepts include:
- 17.58 m at 0.44% copper from 109.42 m;
- 16.46 m at 0.57% copper from 184.54 m; and
- 45.25 m at 0.42% copper from 256.28 m.
- North of the Banjo breccia, drill hole FCD-25-129 intersected 56.00 m at 0.41% copper from 160.00 m (approximately 100 m below surface), including 24.00 m at 0.64% from 164.00 m.
- The drill holes reported herein further increased confidence of the near-surface mineralization in the American Eagle area and geotechnical holes confirmed the rock competency is consistent with the current resource, and is suitable for efficient open pit mining.
About 10,000 meters of the Phase 4 campaign will be following up on results from Phase 3 that targeted near-surface supergene copper mineralization with the goal of better understanding the distribution of oxide mineralization. This near-surface oxide mineralization would be leachable and important in the early years of a development scenario of the Copper Creek Project.
In addition to expanding mineralization, testing new breccia targets, and infilling the American Eagle area in the upcoming Phase 4 drilling, there still will be some further definition holes drilled down into the deeper porphyry targets at the American Eagle and Keel deposits to better understand the geological controls, hydrology, and structural mineralization.
The company is well cashed up to complete all these work programs in 2026. Graham highlights the strong roster of shareholders, including the Lundin Family and Murray Edwards, as well as a number of institutional investment firms. We wrap up discussing the infrastructure advantages and positives of operating in Arizona as a jurisdiction.
If you have any questions for Graham regarding Faraday Copper, then please email them to me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Faraday Copper at the time of this recording, and may choose to buy or sell shares at any time.
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