Graham Richardson, CFO of Faraday Copper (TSX.V:FDY – OTCQX:CPPKF), joins us to provide an exploration update from 2 high-grade wide-intercept drill holes at the new Banjo Breccia discovery, in the American Eagle Area, at the 100% owned Copper Creek Project in Arizona. The Copper Creek Project already has a 4.2 billion pound copper resource, and all of the ongoing drill results from this Phase 3 program are going to be going into a new resource estimate and updated Preliminary Economic Assessment (PEA) in 2025.
- Drill hole FCD-24-070 was the discovery hole for the high-grade Banjo breccia and confirms significant mineralization above the American Eagle underground resource.
- Drill hole FCD-24-070 intersected 117.90 metres (“m”) at 1.01% copper and 1.87 grams per tonne (“g/t”) silver from 323.52 m, including 15.89 m at 2.15% copper and 2.48 g/t silver from 390.00 m. This intercept is within 269.65 m at 0.64% copper and 1.32 g/t silver from 229.49 m.
- Drill hole FCD-24-073 intersected 117.83 metres at 1.12% copper and 2.43 g/t silver from 298.00 m. This intercept is within 259.98 m at 0.68% copper and 1.57 g/t silver from 205.00 m.
Graham discussed how this near-surface mineralization ties in with all the other breccia mineralization delineated thus far that would be amenable to open-pit mining, and that further at depth there are still the porphyry areas at Keel and American Eagle that may be more of a future underground opportunity.
We then pivoted to all the regional drilling still planned in this expanded Phase 3 exploration program, where a 2nd drill has been added to test the Rum target, Horse Camp target, and to do more follow up drilling at the new Area 51 discovery, which was identified in the Phase 2 drill program.
If you have any questions for Graham regarding Faraday Copper, then please email us at either: Fleck@kereport.com or Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Faraday Copper at the time of this recording.
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