Faraday Copper Corp. announced the results of an additional four drill holes from its Phase III program at the Copper Creek Project, located in Arizona, U.S. (Copper Creek). Two of the holes were drilled at the Area 51 target to test additional near-surface breccias as a follow-up to the recent Starship breccia discovery (announced on January 16, 2024) and two holes were drilled in the Copper Giant area to test resource expansion potential.

Highlights: Intersected 45.75 metres (m) at 0.48% copper, 0.02 grams per tonne (g/t) gold and 2.90 g/t silver from 43.40 m, including 11.36 m at 1.29% copper, 0.05 g/t gold and 8.89 g/t silver from 77.79 m in drill hole FCD-24-050 at the previously undrilled Eclipse breccia. Intersected 54.21 m at 0.36% copper, 0.04 g/t gold and 2.53 g/t silver from 35.48 m, including 17.06 m at 0.77% copper, 0.06 g/t gold and 4.21 g/t silver from 35.48 m in drill hole FCD-23-043, confirming the potential for a near-surface, supergene enrichment blanket in the Starship breccia. These results from the Eclipse breccia and the adjacent Starship breccia remain open in all directions and Area 51 is becoming a significant new discovery on the project.

Sulphide mineralogy and trace element geochemistry, together with geophysical evidence, suggest that the drill holes intercepted a shallow part of the mineral system, which is indicative of greater porphyry potential at depth. Area 51: Area 51 was identified as highly prospective by integrating airborne versatile time domain electromagnetic (VTEM) data and short wave infrared spectral data together with geological mapping and sampling. Area 51 encompasses a porphyry intrusion with nine mapped breccia bodies over an area of approximately 400 m by 400 m, including Starship and Eclipse.

The breccias are interpreted to have been emplaced in the hanging wall of the northwest trending Holy Joe thrust fault, which brought Proterozoic metamorphic rocks in contact with younger sedimentary rock units to the east of Area 51. This fault is also thought to have controlled the emplacement of the Paleocene Glory Hole volcanics and Copper Creek granodiorite which host the mineralization at Copper Creek. Drill hole FCD-24-050 was collared immediately northeast of the Eclipse breccia and drilled to the southwest.

The mineralization includes a zone of chalcocite within hydrothermal breccia and volcanic host rocks. The highest grades are associated with chalcopyrite-pyrite and subordinate chalcocite cement in hydrothermal breccia cross-cutting granodiorite. The hole intersected mostly hydrothermal breccia from approximately 43 m to 213 m. Alteration within and near breccia is sericitic, which is associated with high-grade copper mineralization elsewhere on the property.

Drill hole FCD-23-043 was collared at the same location as drill hole FCD-24-050 but drilled steeply to the North into the Starship breccia. The mineralization occurs as chalcopyrite and chalcocite cement within a hydrothermal breccia, which also includes pyrite and quartz. The hole intersected over 65 m of hydrothermal breccia.

The mineralization and alteration suggest that the intersection is in the upper part of the mineralized system and includes a zone of supergene enrichment which remains open laterally. Copper Giant: Two holes were drilled near the Copper Giant breccia in proximity to the current mineral resource. The holes were aimed at testing resource expansion potential and to provide geotechnical information for future studies.

Drill hole FCD-24-045 was collared east of the Copper Giant breccia and was drilled to the southwest, to test potential depth extensions of the Copper Knight and Copper Prince breccias. The hole intersected mainly igneous cemented breccia from surface to approximately 140 m with the remainder being in granodiorite and porphyry. Dominant alteration is potassium feldspar and biotite with local occurrence of chalcopyrite-quartz veins.

Locally, sericite-clay overprint is observed near the top and the bottom of the hole. Drill hole FCD-24-046 was collared at the same location as FCD-24-045 but drilled to the northeast. It tested the potential for oxide copper mineralization at the Hilltop breccia.

The hole intersected igneous cemented breccia from the start of the hole to approximately 40 m depth and from 67 m to 93 m with the remainder of the hole in granodiorite. The dominant alteration in the hole is potassium feldspar and biotite with local occurrence of magnetite-specular hematite. The hole intersected oxide copper mineralization over 17.27 m from 14.68 m downhole depth.

Next Steps: Phase III drilling continues and is focussed on three objectives: Reconnaissance drilling on new targets; Expanding the MRE; and Better delineating high-grade mineralized zones. As part of the Phase III program, fifteen drill holes have been completed and results for ten have been released. Eight holes were drilled in Area 51, three in the Copper Prince-Copper Giant area, three in the Bald-American Eagle area and one near Old Reliable.

Additional holes are currently being designed to (i) test further breccias in Area 51, and (ii) to test geophysical anomalies at depth near and below Old Reliable and Mammoth.