Faraday Copper (TSX:FDY; OTC:CPPKF) has assays from six recent holes at its Copper Creek project in Arizona, and the best of them tested 1.68% copper, 0.33 g/t gold, 5.55 g/t silver, and 0.028% molybdenum across a 46.0-metre interval. The assays were for hole FCD-22-023 drilled outside the extent of the known mineral resource.
Hoe FCD-23-025 intersected 136.5 metres grading 0.54% copper and 0.83 g/t silver, including 0.87% copper and 1.22 g/t silver over 66.3 metres and 0.31% copper and 0.83 g/t silver over 309.4 metres.
Two of the remaining holes targeted a previously undrilled breccia immediately east of Copper Prince, and the last two were reconnaissance holes testing another breccia north of the resource area.
The 3-km long Copper Creek deposit is located in the heart of the prolific southwestern North American porphyry copper province. The project covers 65 km2 and is 100%-owned by Faraday.
Last summer the company produced a 43-101 compliant, open pit and underground resource estimate that includes 355.1 million tonnes in the measured and indicated category averaging 0.50% copper, 0.008% molybdenum, and 1.3 g/t silver (0.53% copper-equivalent). The amounts of contained metals are 3.9 billion lb. copper, 62.9 million lb. molybdenum, and 14.5 million oz. of silver.
The inferred resource is 75.0 million tonnes at 0.38% copper, 0.007% molybdenum, and 0.8 g/t silver (0.41% copper-equivalent).
Faraday continues to drill at Copper Creek to expand the resources, delineate high-grade zones, and test new targets. Phase 3 drilling will begin later this year.
The company has also begun a gold assaying program of historical drill core to determine the potential for inclusion in future resource estimates. Samples will also be taken for metallurgical test work.
The May 2023 presentation of the preliminary economic assessment for Copper Creek is posted on www.FaradayCopper.com