Faraday Copper (TSX:FDY) has uncovered 117.83m @ 1.12% copper at its newly discovered Banjo breccia within the American Eagle area in Arizona.
The explorer notes that this intercept also includes 2.43 grams per tonne (g/t) silver from 298m, from within a broader 259.98m @ 0.68% copper, and 1.57g/t silver from 205m.
A second hole drilled into the target intersected 48.21m @ 0.41% copper and 1.09g/t silver from 206.70m within 164.20m @ 0.28% copperaand 0.89g/t silver from 196.80m.
The hole also intersected 39.44m @ 0.26% copper and 0.81g/t silver from 91.41m.
The two holes were drilled to continue investigating the near-surface mineralisation in the recently discovered Banjo breccia.
CEO Paul Harbidge says the results from drill hole 73 further delineate the Banjo breccia and expand upon the results in discovery hole 70.
“Particularly in regard to the continuity of the +1% high-grade core and wide zone of lateral mineralisation,” he says.
“The system remains open in multiple directions and grades are increasing with depth.”
Hole 73 was collared about 200m northeast of the American Eagle breccia and 270m north of the Banjo discovery hole, and drilled to the south.
Meanwhile, hole 72 was collared about 260m east of the American Eagle breccia, 170m north of the Banjo discovery hole, and drilled to the northwest.
Faraday says this hole was drilled at a shallower depth and intersected mineralisation about 150m above the “high-grade” intercepts in drill holes 70 and 73.
Follow up drilling is underway and a second rig is being mobilised to the Copper Creek Project to test targets outside of the American Eagle area.
Results from drilling so far have provided further confidence for a “large near-surface” resource at the American Eagle deposit.
American Eagle forms part of the 3km-long Copper Creek Project in Arizona, which 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.
The American Eagle area spans about 800m by 1km and hosts several prospective breccias and porphyries demonstrating strong copper geochemical signatures, according to Faraday.
These surface expressions are located above the underground porphyry resource, which sits about 500m to 1.1km below surface.
Historically, the near-surface mineralisation was not adequately tested as previous drilling was vertical to steeply inclined.
Phase-three drilling is continuing in the American Eagle area with the aim of following up new targets, expanding the resource and better defining the high-grade zones.
Faraday, which is aiming to release an updated resource in the first half of 2025, has so far completed 38 holes, with the results for 36 already released.
Write to Angela East at Mining.com.au
Images: Faraday Copper
