Faraday Copper Corp. (TSX: FDY | OTCQX: CPPKF) has announced assay results from six drill holes at its Copper Creek project, located in Arizona, USA. The best results were for hole FCD-23-023, which was drilled outside the extent of the known mineral resource.
“The continued success of our Phase II drill programme confirms our view that there is significant upside to the open pit and underground resource utilized as the basis for the (preliminary economic assessment or) PEA,” commented president and CEO, Paul Harbidge.
“In particular, drill hole FCD-23-023 returned high copper grades and enrichment in gold. This highlights the potential to add gold credits to the current resource through both future drilling and our ongoing assaying of historical core and pulps that were not analyzed in the past. We look forward to providing updates as we progress.”
The company has begun a gold assaying programme on historical drill cores and samples will also be taken for metallurgical test work after receiving the following results.
- 45.89m @1.68% Cu, 5.55g/t Ag, 0.33g/t Au, and 0.028% Mo
- 309.43m @ 0.31% Cu and 0.83g/t Ag
- 136.48m @ 0.54% Cu and 0.83g/t Ag
- including 66.26m @0.87% Cu and 1.22g/t Ag
Last summer, the company produced an underground resource estimate of 355.1Mt in the measured and indicated category averaging 0.53% copper-equivalent with 62.9Mlb of molybdenum, 3.9Blb of copper, and 14.5Moz of silver.
Faraday’s phase two drilling has completed 26 drill holes so far, with the results for fifteen drill holes released to date. Future drilling campaigns are scheduled for later this year as they continue to drill at Copper Creek to expand resources, delineate high-grade zones, and test other promising new targets.
For further information, please visit: www.faradaycopper.com/