Faraday Copper CEO reveals exciting copper discoveries in latest drill results from Copper Creek
August 02, 2023 at 02:09 pm EDT
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Faraday Copper CEO Paul Harbidge takes Proactive's Stephen Gunnion through the exploration and development company's two projects: Copper Creek in Arizona, one of the largest undeveloped copper projects in the US, and the Contact Copper Project in Nevada.
Following the release of the final two holes of its Phase II drill at Copper Creek, Harbidge said the results are encouraging, confirming high-grade extensions to open pit resources and indicating the potential for further expansion.
Looking ahead, Faraday Copper plans to initiate a 20,000-meter drill program in the fourth quarter, focusing on gold enrichment and integrating various datasets to enhance the project's value. The company boasts significant copper reserves, with an initial open-pit stage followed by bulk underground mining, potentially extending the mine life to 30 years.
Copper's prospects appear bright due to increasing demand driven by the clean energy transition. Citi Group predicts copper prices rising to over $5 by 2025.
Faraday Copper is well-positioned to capitalize on this trend with its projects and exploration work, aligning itself with the anticipated surge in copper demand for renewable energy applications, electric vehicles, and grid infrastructure.
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Faraday Copper Corp. is a Canada-based exploration company. The Company is focused on advancing its flagship copper project in Arizona, United States. The Companyâs projects include Copper Creek Project and Contact Copper Project. The Copper Creek Project is a three-kilometer-long porphyry copper deposit located in Pinal County, less than two hours northeast of Tucson, Arizona. The Copper Creek Project consists of approximately 65 square kilometers and has a rich history of exploration and mining across patented and unpatented claims. The Contact Copper is a pre-feasibility stage copper oxide project located on approximately 21 square kilometers of private property between the towns of Wells and Jackpot in northern Nevada. It consists of approximately 155 patented claims across more than three square kilometers and 219 unpatented claims across more than 17 square kilometers.