Star Metro - Faraday Copper Continues to Intersect Near-Surface Copper Mineralization at American Eagle and Expands Keel Laterally

Paul Harbidge, President and CEO, commented, "The results from our Phase IV drill program continue to increase our confidence in expanding the near surface mineralization in the American Eagle area. In addition, the drill hole at Keel, which was also intended for hydrological data gathering, demonstrates that the underground mineralization remains open for expansion with further drilling. Phase IV drilling is ongoing and is focused on increasing the open pit potential, testing district exploration targets, and collecting hydrogeological and geotechnical data that will be used in future technical studies."

Highlights

• Six drill holes in the American Eagle area intersected near-surface mineralization above open pit cutoff grade ¹ and continue to confirm the potential for an open pit resource to be defined above the existing American Eagle underground resource

  • Intersected 93.05 metres ("m") at 0.44% copper from 122.00 m, including 16.15 m at 1.24% copper from 198.80 m in drill hole FCD-25-136.

  • Intersected 67.00 m at 0.40% copper from 79.00 m including 33.00 m at 0.59% copper from 103.00 m in drill hole FCD-25-143.

• Expanded the Keel mineralization to the northeast, where drilling intersected 551.00 m at 0.34% copper from 564.00 m, including higher grade intercepts of 18.00 m at 0.72% copper from 676.00 m and 34.00 m at 0.56% copper from 749.00 m in drill hole FCD-25-131.

  • This hole was also drilled to install piezometers for hydrological data gathering.

(For true width information see Table 1)

Drill hole FCD-25-122 was collared 280 m southeast of the American Eagle breccia, targeting the Bald breccia. The hole was drilled to the southeast. It intercepted granodiorite to 55 m followed by different types of porphyry to the end of the hole. A short interval of hydrothermal breccia was intercepted from 114 m to 118 m. Sericitic alteration is moderate to intense from 50 m to 160 m, mostly related to veins. Pyrite with chalcopyrite in veins constitutes the mineralization in this hole.

Drill hole FCD-25-130 was collared 300 m northeast of the American Eagle breccia and drilled to the northwest, targeting previously undrilled areas north of the Banjo breccia. It intercepted granodiorite for the entire length of the hole except for a porphyry interval from 131 m to 160 m. Mineralization occurs as pyrite-chalcopyrite in porphyry style veins associated with sericitic alteration.

Drill hole FCD-25-131 was collared approximately 100 m west of Mammoth and drilled to the east. It targeted the northeast extension of Keel and included piezometer installation for hydrogeological data gathering. The hole intersected granodiorite to 303 m, followed by breccia to 428 m. Granodiorite dominates to 1,047 m, followed by porphyry and several narrow fine-grained mafic dykes to the end of the hole. Alteration associated with breccia is sericitic whereas potassic alteration is present at depth. Chalcopyrite and pyrite occur in breccia cement. Below 428 m, mineralization is vein hosted and disseminated. Pyrite decreases and bornite increases relative to chalcopyrite with depth. Molybdenite is present throughout the mineralized intervals.

Drill hole FCD-25-135 was collared 500 m north of the American Eagle breccia and was drilled to the south, targeting the Post Office breccia. This hole served to collect geotechnical information. It intersected granodiorite for its entire length except for hydrothermal breccia from 48 m to 56 m and narrow porphyry dykes adjacent to it. The breccia is associated with intense sericitic alteration and pyrite cement. Pyrite and lesser chalcopyrite occur also in porphyry-style veins in granodiorite.

Drill hole FCD-25-136 was collared 400 m NW of the American Eagle breccia, near the Jailhouse breccia and drilled to the southeast. The hole was drilled to further define the shallow extent of the Winchester breccia. The hole intersected granodiorite to 22 m, followed by alternating breccia and granodiorite to 286 m. Both igneous cemented and hydrothermal breccia domains are present. Narrow porphyry intercepts are spatially associated with igneous cemented breccia. Alteration in hydrothermal breccia is sericitic. Mineralization occurs as chalcopyrite with pyrite as breccia cement and disseminated as well as porphyry-style veins below 250 m downhole.

Drill hole FCD-25-137 was collared 200 m northwest of the American Eagle breccia and drilled to the northwest, targeting a vein zone and the southwestward continuation of the Jailhouse breccia trend. The hole intersected granodiorite except for breccia from 140 m to 169 m. Mineralization occurs as pyrite with chalcopyrite in porphyry style veins and locally as breccia cement.

Drill hole FCD-25-143 was collared 250 m northeast of the American Eagle breccia and was drilled to the southeast. It targeted near-surface mineralization between Banjo and American Eagle. The hole intersected granodiorite for the first 22 m, followed by porphyry to the end of the hole. Mineralization is associated with sericitic alteration and occurs as disseminated chalcopyrite and pyrite and to a lesser degree in porphyry-style veins. The hole ends in mineralization.

Drill hole FCD-25-144 was collared 100 m north of the American Eagle breccia and was drilled to the north, targeting near-surface mineralization between Banjo and American Eagle. The hole intersected granodiorite except for porphyry from 105 m to 114 m flanked by 3 m of breccia on either side. Mineralization occurs as pyrite with chalcopyrite in porphyry style veins with sericitic halos and in breccia cement. Variable amounts of chalcocite are present between 16 m and 46 m.

Phase IV Drill Program: Next Steps

Drilling continues, focused on near-surface mineralization as well as geotechnical and hydrogeological objectives. The Company has released results from 5,783 m drilled in 16 holes, of which 15 holes are in the American Eagle area and one hole is in Keel.

The assay results for additional completed drill holes will be released as they are received, analyzed and confirmed by the Company.

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 Mineral Resource Estimate ("MRE") as presented in the Copper Creek Project Technical Report ¹ .

Figure 2: Cross Section Showing Selected Drill Holes Projected onto a Section Plane A to A' shown in Figure 1

Table 1: Selected Drill 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

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 20 ^th sample. Coarse and fine blanks were inserted every 20 ^th 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 and cutoff grades are 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".

For additional information please contact:

Stacey Pavlova, CFA
Vice President, Investor Relations & Communications
Faraday Copper Corp.
E-mail: [email protected]
Website: www.faradaycopper.com

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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.

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.

SOURCE: Faraday Copper Corp.

View the original press release on ACCESS Newswire

J.Hall--SMC