Faraday Copper (TSX:FDY) has intersected 23.25m at 1.58% copper within 57.73m at 0.85% in the Rum area as part of its ongoing phase three drill program at the Copper Creek Project, located in Arizona.
Phase three drilling continues with the current focus on near-surface mineralisation in the American Eagle and Rum areas. To date, through the combined phase two and three drill programs, which are not included in the mineral resource estimate, the company has released results from 68 drillholes.
Faraday expects to include over 30,000m of incremental drilling in a mineral resource update planned for 2025, “with the new targets representing a significant opportunity to enhance the project value”.
The company says assay results for additional completed drillholes will be released as they are received, analysed, and confirmed by the company.
During phase three drilling, one hole was drilled to target near-surface mineralisation at the Rum area and two were drilled as reconnaissance holes in the American Eagle area, further testing the potential for near-surface mineralisation.
CEO Paul Harbidge says it is encouraging to intersect strong near-surface mineralisation with Faraday’s first drillhole in the Rum area, which is 700m north of the current mineral resource.
“This result further supports the prospectivity along the interpreted Holy Joe Fault, which extends across the property. This fault and related structures controlled the emplacement of multiple breccias and porphyries, many of which remain untested and will be the focus of our ongoing drill program,” the CEO says.
The Rum area is located some 700m northwest of the resource area. It features several breccias and porphyries intruding ‘glory hole’ volcanics over an area of about 250m by 400m, with copper oxide mineralisation observed at surface.
Faraday reports there is very limited historical drilling in this area with one vertical drill hole (RUM-1), drilled in the late 1990s, intercepting 48.8m at 1.07% copper.
Drillhole FCD-24-078 was collared in porphyry, about 20m from the Rum breccia surface contact and drilled toward the northeast. It starts in granodiorite porphyry and intersects hydrothermal breccia from 16 m to 58 m. It crosses a fault and, in the footwall, enters Glory Hole volcanics, intruded by a granodiorite porphyry dyke from 68m to 105m.
Copper oxide mineralisation occurs in cavities and on fracture surfaces within the porphyry at the top of the hole, whereas secondary copper sulphides (chalcocite) are abundant from 25m to 58m.
The American Eagle area, as mapped on surface, covers approximately 800m by 1,000m and is host to numerous prospective breccias and porphyries which have strong copper geochemical signatures. These surface expressions are located above the large underground porphyry mineral resource, which is approximately 500m to 1,100m depth below surface.
Faraday says historically, the near-surface mineralisation was not adequately tested as previous drilling was vertical to steeply inclined. Mapped geology, isolated historical drill intercepts and historical small-scale mining highlight the potential for near-surface mineralization.
The company has reported assay results for 13 drillholes from this area as part of the current program.
The company will be exhibiting at this year’s Prospectors & Developers Association of Canada (PDAC) event being held from 2-5 March in Toronto, Canada.
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Write to Adam Orlando at Mining.com.au
Images: Faraday
