New Gold Assay Results From Keel Zone At The Copper Creek Project

VANCOUVER - Faraday Copper Corp. reported on the gold program from the Keel Zone at the Copper Creek project in Arizona. The results support the potential to unlock significant value through the contribution of payable gold in concentrate in future Mineral Resource Estimates (MRE).

Paul Harbidge, President and CEO, said, "The results show that the Keel Zone hosts the largest gold-bearing domain on the property to date. For context, the Keel underground zone represents approximately 60 million tonnes of the 330 million tonnes in the current underground mineral resource. This newly acquired data, together with our recent metallurgical results, supports the potential for the addition of gold in concentrate as a significant source of by-product revenue that would increase the value of Copper Creek."

Doubled the gold assay coverage in the Keel Zone with 1,017 new gold assays, in addition to the 1,062 historical gold assays. Examples of intercepts with new gold assays and re-assayed copper from historical core include: 1) 103.64 m ("metres") at 1.34% copper and 0.28 grams per tonne ("g/t") gold from 667.51 m in drill hole LM-2. 2) 85.35 m at 0.91% copper and 0.11 g/t gold from 652.27 m in drill hole LM-1. 3) 272.19 m at 0.47% copper and 0.05 g/t gold from 921.11 m in drill hole RMK-12-068.

Gold and copper are correlated on an intercept basis with an overall ratio of approximately 1:9 gold (g/t):copper (%) at the Keel Zone. Recently completed metallurgical test work supports gold recoveries exceeding 80% to a payable grade in the copper concentrate from the Keel Zone. As part of the gold program, copper was re-assayed and the results confirmed historical data, providing additional confidence in the database.

The Keel Zone represents approximately 60 million tonnes of the 330 million tonnes of the current underground MRE. The Keel Zone contains several domains of mineralization with the dominant style including bornite and chalcopyrite that occur disseminated and in miarolitic cavities, as well as in porphyry-style veins. This is indicative of a high emplacement temperature near the apex of a magmatic intrusion and this environment is commonly referred to as a cupola zone. In addition, chalcopyrite-rich breccias crosscut the magmatic cupola mineralization. The Keel Zone is located below the Mammoth breccia and together these areas form the most continuous vertical mineralization (over 1,400 m) discovered on the project to date.

Gold mineralization within Keel is zoned, with the greatest enrichment occurring in the magmatic cupola associated with bornite. Metallurgical test work, reported in a news release dated February 26, 2024, on bornite-bearing samples from the Keel Zone suggests that gold recoveries average over 80% and gold has the potential to be payable in a copper concentrate.

Historically, only a small portion of samples analyzed for copper were also analyzed for gold. The Company has been analyzing archived sample material for gold with the aim of increasing data coverage for potential inclusion in future MRE updates. In addition to gold assays, samples have been re-analyzed for copper, silver and molybdenum to further validate historical results.