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Faraday Copper expands shallow oxide and sulphide at Copper Creek
Drilling at Arizona's Copper Creek project returned 19 metres at 0.55% copper in one hole, and Faraday plans to roll results into an updated resource next year.
Faraday Copper says drilling at its Copper Creek project in Arizona has expanded shallow oxide and sulphide mineralization, strengthening its case for future copper cathode production as it prepares to add its neighboring San Manuel property.
The company reported four holes at Copper Giant East cutting near-surface oxide mineralization over roughly 50 to 100 metres, while drilling at American Eagle extended sulphide mineralization into a previously untested trend. One hole, FCD-26-192, returned 19 metres grading 0.55% copper from 42 metres depth, about 350 metres south of the American Eagle breccia.
Faraday said the results also support potential additional near-surface oxide resources, after intercepts of copper oxide mineralization east of Copper Giant. It added that resource-definition drilling is now complete, and it plans to incorporate the latest findings into an updated resource next year.
In parallel, Faraday is working toward closing its acquisition of BHP’s former San Manuel mine, which the company says could create a district with more than 18 billion lb. of copper. Shareholders approved the required stock on Aug. 25, with closing expected by the end of September, and Faraday shares fell 3.8% to C$5.04 in Toronto by mid-Thursday.
Mining.com reported on the company’s drilling update and the status of the San Manuel transaction.
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