Faraday confirms near-surface copper potential at American Eagle 

The latest round of results from Faraday Copper’s (TSX:FDY) drilling in the American Eagle area has provided the company with confidence of the potential to increase open pit resources at its Copper Creek Project in Arizona, US. 

Two of the nine holes drilled as part of the phase-three program were designed to test the near-surface mineralisation potential above the underground resource at American Eagle.

One hole returned a peak intercept of 20.07m @ 1.20% copper, 0.0997% molybdenum and 6.8 grams per tonne (g/t) silver from 406.58m. 

This hit came from within a broader intersection of 100.29m @ 0.42% copper, 0.0223% molybdenum and 1.84g/t silver from 395.41m that ended in mineralisation.

The second hole (FCD-24-065) intersected 22.92m @ 0.58% copper from 227.34m from within 142.69m @ 0.31% from 219.26m. 

CEO Paul Harbidge says the first two holes drilled at the American Eagle area confirms Faraday’s thesis that there is “significant near-surface mineralisation present”

“This area offers the potential for a substantial increase in open pit resources that could enhance the scale of the project,” he says. 

“Current drilling is ongoing in the American Eagle area, where we continue to target near-surface mineralisation with the vision of a new high tonnage open pit resource being defined.”

The 3km-long Copper Creek Project currently hosts combined open pit and underground measured and indicated resources totalling 421.9 million tonnes @ 0.45% for 4.2 billion pounds of contained copper.

The measured and indicated open pit resource currently sits at around 127.1 million tonnes @ 0.40% copper for 1.1 billion pounds of copper.  

Harbidge told Mining.com.au earlier in June that it is “one of the largest undeveloped copper resources in the US in the hands of a junior”.

The underground resource runs from around 500m to 1.1km below surface. The near-surface mineralisation was not adequately tested historically as previous drilling was vertical to steeply inclined.

However, mapped geology, isolated historical drilling intercepts and historic small scale mining highlight the potential for near-surface mineralisation. About 54,000 tonnes at 3.78% copper was historically extracted from a series of narrow stopes to 90m depth at the American Eagle breccia. 

American Eagle measures 800m by 1km and comprises multiple prospective breccias and porphyries that have been mapped at surface and have a strong copper geochemical signature.  

According to Faraday, the results from hole FCD-24-065 represent the discovery of significant copper mineralisation at the previously undrilled SK-3 and Prada breccias.

Meanwhile, five reconnaissance drill holes completed at Area 51 have confirmed the prospectivity at depth, with drilling into several recently mapped breccias near the prospect intersecting short intervals of copper mineralisation and elevated silver. 

Geochemical and mineralogical data suggests the drilling intersected the upper portion of a potentially mineralised system. 

Faraday is planning follow-up drilling to test the potential at depth.

As part of the phase-three program, 32 holes have been drilled with results released for 28 so far. 

Write to Angela East at Mining.com.au 

Images: Faraday Copper
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Written By Angela East
Managing Editor Angela East is an experienced business journalist and editor with over 15 years spent covering the resources and construction sectors and more recently working as a communications specialist handling media relations for junior resources companies.