FARADAY COPPER CORP. Highlights
Intersected 15.01 m at 10.83% copper, 1.65 grams per tonne ('g/t') gold and 55.62 g/t silver , from 234.27 m,at the Copper
The intercept is located approximately 40 m below the pit shell used to constrain the Mineral Resource Estimate ('MRE') published in
Mineralization remains open at depth and further drilling is planned.
The assay results represent a total of 775.71 m of drilling, including 291.69 m from FCD-22-013 (Phase II drill program) and 484.02 m from FCD-22-001 (Phase I drill program). All intercepts are reported as downhole drill widths.
Drill hole FCD-22-013 was collared at the northwestern margin of the Copper Giant breccia and was drilled to the south. This hole closes a gap in historical drilling and extends drill coverage to the lower projection of the Copper
Confirms high-grade extension with 15.01 m at 10.83 % copper, 1.65 g/t gold and 55.62 g/t silver, from 234.27 m (Table 1). The mineralization consists of massive chalcopyrite, bornite and pyrite.
Two additional intercepts are located within a 70-metre-wide kaolinite-sericite alteration halo to the massive sulphide zone: 9.79 m at 0.18% copper, 0.02 g/t gold, and 0.93 g/t silver from 208.47 m and 8.02 m at 0.28% copper, 0.02 g/t gold and 0.73 g/t silver from 264.88 m.
The results from this drill hole have the potential to expand open pit mineral resources.
This drill hole demonstrates that high-grade copper mineralization is present at Copper Creek. Exploration potential is supported by over 400 breccia occurrences mapped at surface, only 14 of which are included in the MRE and 35 have one or more drill holes in them.
This drill hole has yielded some of the highest gold assay values known to date from the project. Other zones with significant gold assays include the Childs-Aldwinkle breccia and the Keel zone. Gold assay data coverage is approximately 12% of the copper coverage for the current drill database. The Company is evaluating the assaying for gold of selected historical core to continue to add value to the project.
About
Contact:
Vice President
Investor Relations
E-mail: info@faradaycopper.com
Website: www.faradaycopper.com
WEB: www.faradaycopper.com
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 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.sedar.com .
This news 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 news 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
(C) 2023 Electronic News Publishing, source
