Faraday Copper Corp. (TSX:FDY) has received positive results from three drill holes at its Copper Creek Project, located in Arizona, USA.
The holes were drilled to target potential expansion of the open pit mineral resource.
Highlights
- Intersected 100.12 metres (m) at 0.69% copper and 1.15 grams per tonne (g/t) silver from 34.88m at the Copper Giant breccia in drill hole FCD-22-012. Approximately 85m of this intersection are outside the pit shell used to constrain the Mineral Resource Estimate (MRE) and provide the potential for an increase to the current open pit resource. Mineralization remains open at depth and to the southwest; and
- Intersected 8.32m at 1.62% copper and 2.54g/t silver from 5.64m, and 9.64m at 0.31% copper and 1.15g/t silver from 110.55m in drill hole FCD-22-015. Both intersections are located outside of the MRE and demonstrate that the area north of Copper Giant remains prospective.
“This is one of the most exciting results from our Phase II drill programme as it continues to demonstrate the potential to expand the open pit mineral resource. Importantly, mineralization remains open. This result is extremely encouraging for the growth potential of the Copper Creek project,” President and CEO, Paul Harbidge, said.
Drill hole FCD-22-012 was collared west of the Copper Giant breccia and drilled to the northeast.
The mineralization occurs as chalcopyrite breccia cement within Copper Giant and highlights that the copper grade, continuity and volume of this mineralized domain may be significantly larger than the historic drilling suggested. Mineralization remains open at depth and to the southwest.
Drill hole FCD-22-015 was collared approximately 120m to the northeast from drill hole FCD-22-014 and is located entirely outside of the MRE. The hole was drilled to the north into Glory Hole volcanics and granodiorite porphyry, where no previous drill data existed.
The hole intersected high-grade, breccia-hosted mineralization from 5.64m to 13.96m. In addition, 9.64m of copper mineralization was intersected within a wide sericite alteration halo between 75m and the end of the hole at 156.60m. Sericite alteration can be associated with high-grade mineralization in the district and this result merits additional drill testing.
Drill hole FCD-22-014 was collared at the same location as FCD-22-012 but drilled to the north. This hole was drilled into the Glory Hole volcanic host rock where no previous drill data existed. While no significant copper mineralization was identified, portions of this hole have intersected potassic and sericite alteration, suggesting that the hydrothermal system continues to the north from the current extent of drilling and, therefore, it remains a drill target.
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