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Faraday Copper Corp. reports new gold assay results from the Keel Zone at the Copper Creek Project, showing 1.34% copper and 0.28 g/t gold over 103.64 metres. The results support the potential for significant value through gold contributions in future Mineral Resource Estimates. Recent metallurgical tests indicate gold recoveries over 80% in copper concentrate. The Keel Zone exhibits high-grade mineralization, with bornite and chalcopyrite dominating the mineralization style. The company aims to expand the MRE by including gold data from other zones and continues drilling at American Eagle.
Faraday Copper Corp. reported financial results for Q1 2024, highlighting drilling approval at Copper Creek Project, positive metallurgical results, and new mineralized breccias. Ongoing exploration targets and upcoming milestones were noted. The Phase III drill program aims to expand mineral resources and delineate high-grade zones. The financials showed a net loss of $5.5M, $8.75M cash on hand, and ongoing reliance on equity financing.
Faraday Copper received approval from the U.S. Bureau of Land Management for drilling at its Copper Creek Project in Arizona. The approval allows drilling on eleven pads targeting high-grade mineralization. The American Eagle area will focus on near-surface breccia-hosted mineralization, while the Rum area targets porphyry-hosted mineralization. Earthworks contractors will prepare drill pads, with the potential for additional drill rigs. The project has significant exploration potential and is well-funded.
