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Faraday Copper Corp. Company Data
| Introduction
| Projects in Hand
| Management
Faraday Copper is a Canadian exploration company focused on advancing its flagship copper project in Arizona, U.S. The Copper Creek project is one of the largest undeveloped copper projects in North America, with significant district scale exploration potential. The Company is well financed to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. The Company’s mission is to support the global energy transition and promote a sustainable future through the responsible development of domestically sourced North American copper. Copper Creek Project, Arizona In a Top Mining Jurisdiction Arizona Produced ~70% of U.S. Copper in 2023 (USGS)
Copper Creek Project Update (See news release dated March 12, 2024) Phase III drill program commenced in the fourth quarter of 2023. The focus of Phase III drilling will be on expanding the mineral resource, improved delineation of high-grade mineralized zones, and reconnaissance drilling on new targets. In the Phase II drill program gold assay results confirmed the potential for gold to occur in economic concentrations in certain phases of the mineralization. Gold is not currently included in the MRE. A sampling program is underway to gather sufficient data coverage for potential gold inclusion in future technical studies. The results from the Childs Aldwinkle and Copper Prince breccias have been returned and reported. The Company is continuing the re-assaying of historical material for potential inclusion of gold in future mineral resource updates. Additional areas are expected to include the Pole breccia and the Keel underground zone, with the Company continuing to evaluate other potential areas. The Company has reported results from a metallurgical program focused on grind size optimization that demonstrated the viability of coarse particle flotation, gold recoveries in concentrate and test work on near surface mineralization. The Company is focusing on exploration at the property while continuing to advance technical studies, environmental data gathering and stakeholder outreach. Investment Highlights
Management and Directors Paul Harbidge, President, CEO & Director Mr. Harbidge is a geologist with more than 25 years of experience in mining exploration and development with a proven track record of discovering world class gold deposits. Mr. Harbidge was most recently the President and Chief Executive Officer of GT Gold and led the company to a CA$456 million acquisition by Newmont Mining Corp. in May 2021. He was SVP Exploration at Goldcorp and General Manager Exploration at Randgold Resources. Currently he is a Director of Japan Gold. Graham Richardson, Chief Financial Officer Mr. Richardson is a Canadian CPA with over 15 years of finance experience in the mining sector. He was most recently the Senior Director, Finance and Accounting of Fortuna Silver Mines Inc. and held roles with Goldcorp Inc. and Deloitte Touche Tohmatsu Limited. Dr. Thomas Bissig, VP Exploration Dr. Bissig is a geologist and geochemist with more than 23 years of experience in exploration and applied research on porphyry and epithermal deposit types across the Americas. He most recently worked as a consulting geoscientist. He was Director, Geochemistry at Goldcorp/Newmont. Zach Allwright, VP Projects & Evaluations Mr. Allwright is a skilled mining professional with 15 years of diversified international experience, specializing in asset optimization and technical evaluations. He was most recently the Director, North America of Mining Plus Consulting. Aaron Cohn, VP & Country Manager, U.S. Mr. Cohn is a mining and business professional with over 16 years of international and domestic experience in optimizing business performance through projects, programs and initiatives focused on efficiency and effectiveness. He was most recently the Vice President, Technical Services of Ma’aden Gold & Base Metals and held roles with Newmont Mining Corporation. Angela Johnson, VP Corporate Development & Sustainability Ms. Johnson is a diversified mining and exploration professional with over 12 years of experience. Most recently, Ms. Johnson led the corporate development team at Silvercorp Metals in the assessment and evaluation of international precious and base metal projects for potential acquisition or strategic investment. She also held roles with SSR Mining Inc. and Calibre Mining Corp. Stacey Pavlova, VP Investor Relations & Communications Ms. Pavlova is a finance professional with over 10 years of experience in the mining industry within the spheres of investor relations, finance, and metal sales. Most recently, Ms. Pavlova was the Vice President, Investor Relations and Corporate Communications at New Pacific Metals and held various roles with SSR Mining Inc. Independent Directors Russell Ball, Chair Capital Markets & Financial Expertise Prev. CEO, Calibre Mining; CFO, Goldcorp; CFO, Newmont; Currently Director of Ivanhoe Electric and Southern Silver Exploration Alan Wilson Exploration Expertise Prev. International Exploration Manager, Antofagasta Katherine Arnold Sustainability & Permitting Expertise Prev. Director, Environment, Hudbay Audra Walsh Technical & Operations Expertise Prev. CEO, Minas de Aguas Tenidas (MATSA) Randy Engel Strategic Expertise Prev. EVP, Strategic Development, Newmont Robert Doyle Capital Markets & Financial Expertise Prev. CFO, Pan American Silver Arndt Brettschneider Technical Expertise Currently VP Operations & Projects, Filo Mining On January 08, 2025, Faraday Copper Corp. announced the results of five drill holes from its ongoing Phase III drill program at the Copper Creek Project, located in Arizona ("Copper Creek"). Two holes were drilled in the American Eagle area, two in the Rum area and one was a reconnaissance hole east of Area 51. It intersects 40.06 Metres at 0.78% Copper Within 109.42 Metres at 0.41% Copper at the Boomerang Breccia and Expands Near-Surface Mineralization at the Prada Breccia Paul Harbidge, President and CEO, commented "It is exciting to see that our on-going drill program continues to deliver positive results. These results confirm additional near-surface mineralization above the existing resource in the American Eagle area, including the identification of high-grade copper at the Boomerang breccia. Moreover, significant copper was identified in veins outside the breccia domains. All fifteen drill holes, reported in the American Eagle area to date, have intersected copper mineralization above cutoff grade 1 with numerous high-grade zones present. Additionally, drilling has demonstrated exploration potential well outside of the resource area, including east of Area 51 and at depth in the Rum area." On November 04, 2024, Faraday Copper Corp. announced that its financial results for the three months ended September 30, 2024. Highlights Year to Date:
On October 17, 2024, Faraday Copper Corp. has provided an exploration update and has released the results of one drill hole from its continuing phase 3 drill program at the Copper Creek project, located in Arizona. The hole was drilled to evaluate the near-surface mineralization above the recently discovered Banjo breccia in the American Eagle area. Paul Harbidge, president and chief executive officer, commented: "It is very exciting that this result further delineates the recently discovered Banjo breccia and now outlines 400 vertical metres of mineralization from the surface outcrop. The nature of mineralization in this hole suggests significant concentration of copper through supergene enrichment. To date, approximately 75 per cent of our phase 3 drilling has been focused on the discovery of additional near-surface mineralization outside the resource area to further unlock the potential scale of the project." Highlights:
On September 24, 2024, Faraday Copper Corp. announced the results of two drill holes from its ongoing Phase III drill program at the Copper Creek Project, located in Arizona, U.S. ("Copper Creek"). The two holes were drilled to continue to evaluate the near-surface mineralization in the recently discovered Banjo breccia in the American Eagle area. Paul Harbidge, President and CEO, commented "It is very exciting that the results from drill hole 73 further delineate the Banjo breccia and expand upon the results in the discovery hole 70, particularly in regard to the continuity of the +1% high-grade core and wide zone of lateral mineralization. The system remains open in multiple directions and grades are increasing with depth." Highlights:
On August 21, 2024, Faraday Copper Corp. announced the results of two drill holes from its ongoing Phase III drill program at the Copper Creek Project, located in Arizona, U.S. ("Copper Creek"). The two holes were drilled to continue to evaluate the near-surface mineralization in the American Eagle area. Paul Harbidge, President and CEO, commented "Drilling in the American Eagle Area continues to provide very exciting results, with the discovery of the Banjo breccia, which has returned the best grade-width intercept of this drill campaign to date. The Phase III drilling shows the potential for a large near-surface resource to be defined above the current underground resource. The current interpretation suggests characteristics similar to the Mammoth breccia. Mammoth connects with the Keel underground zone and is the most vertically continuous mineralized system defined so far on the property. Drilling continues with the emphasis on both delineation of the Banjo breccia and testing additional breccias in the American Eagle area." Highlights:
On August 01, 2024, Faraday Copper Corp. announced its financial results for the three months ended June 30, 2024. Highlights Year to Date:
Upcoming Copper Creek Milestones:
On July 25, 2024, Faraday Copper Corp. has released the results of an additional four drill holes from its continuing phase 3 drill program at the Copper Creek project, located in Arizona, United States. Drilling to date, as part of this program in the American Eagle area, has demonstrated the continuity in near-surface mineralization. Paul Harbidge, president and chief executive officer, commented: "The ongoing drilling success at the American Eagle area, which is situated above the underground resource, increases our confidence that there is significant near-surface mineralization present. This could support an increase in the open-pit resource of the project. It is particularly encouraging that we are encountering wide intervals of mineralization above our resource cut-off grade, which are open in all directions. Drilling continues in the area with a focus on testing previously undrilled breccias, including the Banjo, Jailhouse and Giuseppe breccias, which we expect to drill test over the coming months." Highlights:
On June 25, 2024, Faraday Copper Corp. announced the results of nine drill holes from its ongoing Phase III drill program at the Copper Creek Project, located in Arizona, U.S. ("Copper Creek"). Two holes were drilled to test near-surface mineralization potential in the American Eagle area and five reconnaissance holes were drilled to test previously undrilled breccias near Area 51 outside of the recent Starship and Eclipse breccia discoveries. Two holes were drilled in the Bald area between Area 51 and American Eagle. Paul Harbidge, President and CEO, commented "The first two drill holes that Faraday has completed at the American Eagle area, which is situated above the underground resource, have confirmed our thesis that there is significant near-surface mineralization present. This area offers the potential for a substantial increase in open pit resources that could enhance the scale of the project. Current drilling is ongoing in the American Eagle area, where we continue to target near-surface mineralization with the vision of a new high tonnage open pit resource being defined." Highlights:
On June 18, 2024, The Globe and Mail reports in its Tuesday, June 18, edition that BMO Capital analyst Rene Cartier, calling Faraday Copper "a U.S. copper growth opportunity," started coverage with an "outperform" ranking and $1 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $1.29. Mr. Cartier says in a note: "In our view, continued exploration success to further define the potential at Copper Creek is underpinned by an established open pit and underground resource at the project, which has been wrapped into a preliminary economic assessment. The Copper Creek project proximity advantages itself for the introduction of a strategic partner, project synergies or potential M&A." On June 13, 2024, Faraday Copper Corp. shareholders approve AGM resolutions. Each of the eight nominee directors listed in the notice of meeting and management information circular dated May 15, 2024, was elected as director of Faraday Copper Corp. at its annual general meeting of shareholders, held virtually earlier today. Other matters put forward to shareholders at the meeting included the appointment of the company's auditor, which was also approved. At the meeting, 85,569,181 shares were voted, representing 48.46 per cent of the company's issued and outstanding common shares. Detailed results of the meeting are filed on SEDAR+. On May 30, 2024, Faraday Copper Corp. has completed its previously announced bought deal financing, including the exercise in full of the underwriters' overallotment option, for a total of 28.75 million common shares sold at a price of 80 cents per common share for aggregate gross proceeds to the company of $23-million. Paul Harbidge, President and CEO, commented "We are pleased to close another successful financing backed by strong institutional support and key partners, including the Lundin family, Murray Edwards, and Pierre Lassonde." The Company intends to use the net proceeds from the Offering to fund advancement of the Copper Creek Project, located in Arizona, U.S., and for working capital and general corporate purposes as set out in the Prospectus Supplement. On May 30, 2024, Nemesia Sarl, and Zebra Holdings and Investments Sarl (Zebra), two companies controlled by trusts settled by the late Adolf H. Lundin and as such joint actors, both of 40 Blvd. Grande Duchesse Charlotte, L-1330 Luxembourg, noted today that on May 30, 2024, Nemesia acquired an aggregate of 12.5 million common shares of Faraday Copper Corp. at a price of 80 cents per common share for a total of $10-million. The shares were acquired in an offering through a bought deal financing by Faraday announced in its press release dated May 22, 2024, under an accredited investor prospectus exemption under applicable securities legislation. On May 28, 2024, The Toronto Stock Exchange reports that Faraday Copper Corp. will list an additional 28.75 million common shares at the open on May 28, 2024. According to the TSX, the listing will cover shares to be issued at 80 cents per share, pursuant to the terms of the prospectus supplement dated May 24, 2024, to the company's short form base shelf prospectus dated Oct. 21, 2022. On May 22, 2024, Faraday Copper Corp. has entered into an agreement with Ventum Financial Corp. (formerly known as PI Financial) as co-lead underwriter and joint bookrunner, on its own behalf and on behalf of a syndicate of underwriters, including Canaccord Genuity Corp. and TD Securities Inc. as co-lead underwriters and joint bookrunners, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 25 million common shares in the capital of the company at a price of 80 cents per common share for gross proceeds to the company of $20-million. The company intends to use the net proceeds from the offering for exploration and development of its Copper Creek project, located in Arizona, United States, and for general working capital purposes. On May 14, 2024, Faraday Copper Corp. has released the results of five drill holes from its phase III program at the Copper Creek project, located in Arizona, United States. One hole was drilled to test a new target area 275 metres ("m") west of Keel and one hole was drilled to test the westward extension of Old Reliable. Three holes were drilled at Area 51 as a follow-up to the recent Starship and Eclipse breccia discoveries (announced on January 16, 2024 and March 4, 2024). It drilled 42.02 m of 0.41 per cent Cu at Copper Creek. Paul Harbidge, President and CEO, commented "The Phase III drill program continues to demonstrate the exploration potential of the Copper Creek Project on a number of fronts. At Area 51, we continue to intersect and expand near-surface mineralization. At Old Reliable, mineralization is being further delineated outside of the mineral resource pit shell. Additionally, the first reconnaissance hole drilled at depth, west of Keel, confirms our thesis that there is the potential for significant mineralization to be discovered below the Old Reliable breccia complex. This new data will enable us to vector to high grade zones for further drill testing". May 7, 2024, Faraday Copper Reports New Gold Assay Results From The Keel Zone Including 0.28 G/T Gold and Confirming 1.34% Copper Over 103.64 Metres at the Copper Creek Project May 2, 2024, Faraday Copper Reports First Quarter 2024 Financial Results https://faradaycopper.com/news-releases/faraday-copper-reports-first-quarter-2024-financia-8868/ May 2, 2024, Faraday Copper Receives Approval from the Bureau of Land Management for Its Notice of Intent to Conduct Drilling at Its Copper Creek Project in Arizona https://faradaycopper.com/news-releases/faraday-copper-receives-approval-from-the-bureau-o-8863/ April 10, 2024, Faraday Copper Intersects 117.00 Metres at 0.40% Copper Near Surface, Including 23.37 Metres at 0.60% Copper at Old Reliable and Drilling Success Continues at Area 51 https://faradaycopper.com/news-releases/faraday-copper-intersects-117.00-metres-at-0.40-c-8191/ March 12, 2024, Faraday Copper Reports 2023 Financial Results https://faradaycopper.com/news-releases/faraday-copper-reports-2023-financial-results-8126/ March 4, 2024, Faraday Copper Announces New Breccia Discovery at Area 51, Intersecting 1.29% Copper Over 11.36 Meters within 45.75 Meters at 0.48% Copper https://faradaycopper.com/news-releases/faraday-copper-announces-new-breccia-discovery-at-8099/ February 26, 2024, Faraday Copper Announces Positive Metallurgical Results at Its Copper Creek Project in Arizona https://faradaycopper.com/news-releases/faraday-copper-announces-positive-metallurgical-re-7852/ February 21, 2024, Faraday Copper Intersects 163.11 Metres at 0.85% Copper within 380.60 Metres at 0.62% Copper in the American Eagle Area https://faradaycopper.com/news-releases/faraday-copper-intersects-163-11-metres-at-0-85-c-7834/ January 16, 2024, Faraday Copper Discovers New Mineralized Breccia 800 Meters Southeast of the Existing Mineral Resource https://faradaycopper.com/news-releases/faraday-copper-discovers-new-mineralized-breccia-8-7245/ |
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