August 07, 2025

Faraday Copper – Recap Of Phase 3 Drilling Building Into An updated Resource Estimate And PEA - Upcoming Phase 4 Drill Campaign Initiatives

19 minutes

Graham Richardson, CFO of Faraday Copper (TSX:FDY – OTCQX:CPPKF), joins me to provide a comprehensive exploration update recapping the key milestones and discoveries from the 30,000 meter Phase 3 drill program, that is building into an updated Resource Estimate and more advanced update to the Preliminary Economic Assessment (PEA) due out in September. Then we dive into the strategy and objectives for the upcoming 40,000 meter Phase 4 drill program, with a continued focus on defining, expanding, and testing new target all around the American Eagle Area at their 100% owned Copper Creek Project in Arizona.

The Copper Creek Project already has a 4.2 billion pound copper resource, and will be expanding as the drill results from the prior Phase 3 program are incorporated into the updated Resource Estimate, where it is anticipated to have a healthy portion in the indicated category. With regard to the updated PEA, Graham highlights how much geotechnical and metallurgical work will be incorporated, making it a much more advanced PEA, and this is why the work programs after it is released will springboard over the PFS and go right into the Feasibility Study for 2026.

Graham and I discuss a number of the new discoveries made in Phase 3 at the new Banjo Breccia discovery, and recently discovered Winchester breccia, in addition to putting some holes into earlier-stage exploration targets at Old Reliable, the Sunrise Trend (which may indicate the presence of a new porphyry system), and at Horsecamp. There were some holes in Phase 3 that targeted near-surface supergene copper mineralization with the goal of better understanding the distribution of oxide mineralization. Five holes were drilled near the Globe breccia and two near the Copper Giant breccia. There will be more follow-up on this near-surface oxide mineralization as part of Phase 4.

In addition to expanding mineralization, testing new breccia targets, and infilling the American Eagle area in the upcoming Phase 4 drilling, there still will be some further definition holes drilled down into the deeper porphyry targets at the American Eagle and Keel deposits to better understand the geological controls and mineralization.

The company is well cashed up to complete all these work programs after announcing the closing of the CAD $49Million financing on July 29, 2025. Graham also unpacks the strong roster of shareholders including the Lundin Family and Murray Edwards, as well as a number of institutional investment firms. We wrap up discussing the infrastructure advantages and positives of operating in Arizona as a jurisdiction.

If you have any questions for Graham regarding Faraday Copper, then please email them to me at [email protected].

In full disclosure, Shad is a shareholder of Faraday Copper at the time of this recording, and may choose to buy or sell shares at any time.

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