Faraday Copper Corp. announced the results of nine drill holes from its ongoing Phase III drill program at the Copper Creek Project, located in Arizona, U.S. (Copper Creek). Two holes were drilled to test near-surface mineralization potential in the American Eagle area and five reconnaissance holes were drilled to test previously undrilled breccias near Area 51 outside of the recent Starship and Eclipse breccia discoveries.

Two holes were drilled in the Bald area between Area 51 and American Eagle. The American Eaglearea has dimensions of approximately 800 m by 1,000 m and is a host to numerous prospective breccias and porphyries that have been mapped at surface and have a strong copper geochemical signature. These surface expressions locate above the large underground porphyry resource, which is approximately 500 m to 1,100 m depth below surface.

The near-surface mineralization was not adequately tested historically as previous drilling was vertical to steeply inclined. Mapped geology, isolated historical drill intercepts and historic small scale mining highlight the potential for near-surface mineralization. Approximately 54,000 metric tonnes at 3.78% copper were historically extracted from a series of narrow stopes to 90 m depth at the American Eagle breccia (Higgins, 1911) .

The first two drill holes Faraday has completed in this area have confirmed the potential for significant near-surface mineralization, with mineralized intercepts in the two drill holes approximately 190 m apart laterally. Drilling continues in this area. Drill hole FCD-24-064 was collared south of the SK-3 breccia and drilled to the north.

It intersected granodiorite and several hydrothermal breccias as well as zones of high-density early halo veins. Breccia intervals occur from 46 m to 159 m, from 183 m to 201 m, from 347 m to 362 m, and from 407 m to 422 m. Shallow breccia intercepts are pyrite cemented but below 183 m downhole, chalcopyrite is significant and increases with depth. The vertical sulphide zonation highlights the potential for copper mineralization below the pyrite cemented breccias.

Besides chalcopyrite and pyrite in breccia cement, mineralization also occurs in vein zones; molybdenite is abundant from 407 m to 422 m. The drill hole ends in mineralization hosted in veinlets. Sericite is the dominant alteration mineral in breccias whereas sericite and kaolinite are associated with vein zones hosted in granodiorite. Drill hole FCD-24-065 was collared south of the SK-3 breccia and drilled to the northwest.

The hole intersected igneous cemented breccia from surface to 52 m and quartz-pyrite and tourmaline cemented breccia with short intervals of granodiorite from 52 m to 304 m. Chalcopyrite appears together with pyrite around 140 m depth downhole and increases downward. The hole ends in mineralization hosted in granodiorite cross-cut by veinlets. Sericite-kaolinite is the dominant alteration affecting the breccia domains and the granodiorite at the end of the hole.

Area 51 was identified as highly prospective by integrating airborne versatile time domain electromagnetic (VTEM) geophysical data and short wave infrared spectral data together with geological mapping and sampling. Area 51 encompasses a porphyry intrusion with nine mapped breccia bodies over an area of approximately 400 m by 400 m, including the Starship and Eclipse discoveries (announced on January 16, 2024 and March 4, 2024). The breccias are interpreted to have been emplaced at a shallow crustal level in the hanging wall of the northwest trending Holy Joe thrust fault, which brought Proterozoic metamorphic rocks in contact with younger sedimentary rock units to the east of Area 51.

East to northeast striking extensional faults have down dropped Area 51, which is manifested by the preservation of shallow features such as Glory Hole volcanic host-rocks, epithermal alteration assemblages and pyrite together with specular hematite as breccia cement. Three reconnaissance holes were drilled into breccias outside the known mineralization. To date, 13 holes have been drilled into this area, testing six breccias, and confirmed that two breccias contain significant mineralization starting at surface.

An additional two breccias show prospectivity at depth. Data is currently being interpreted and modeled for follow up drilling. Drill hole FCD-24-057 was collared near the Starship breccia and drilled to the north-northeast.

It started in granodiorite and intersected breccia from approximately 31 m to 42 m and approximately 59 m to 93 m. Breccia intervals are variably cemented by quartz, pyrite, specular hematite and tourmaline. From 93 m to 141 m, the hole intersected Glory Hole volcanics and entered basement rocks (Pinal Schist) below that depth. Dominant alteration is sericitic throughout the hole.

Drill hole FCD-24-058 was collared near the Starship breccia and drilled to the northwest. The hole started in granodiorite, which includes igneous cemented breccia domains from 24 m to 100 m. Pyrite-cemented breccia is present from 100 m to 121 m and the remainder of the hole intersected Glory Hole volcanics. The dominant alteration is sericite and kaolinite to 121 m, after which alteration intensity decreases.

Drill hole FCD-24-061 was collared north of the Nebula breccia and drilled to the southeast. The hole intersected Glory Hole volcanics for the first 149 m, except for a short interval of breccia from 21 m to 25 m. From 149 m to 219 m, it entered quartz-pyrite cemented breccia and short intervals of granodiorite porphyry. The hole ended in Proterozoic quartzite.

Alteration in and adjacent to the breccia is sericitic with some kaolinite and localized occurrence of dickite and pyrophyllite. The breccia intervals have some samples exceeding 0.3% copper and up to 1.34 g/t silver over 16.39 m, suggesting mineralization potential at depth.