Abitibi Metals boosts resource by 62% at B26 polymetallic deposit in Quebec
Indicated resources increased to 11.3 million tonnes from 6.9 Mt.
Faraday Copper (TSX: FDY) has assays from six recent holes at its Copper Creek project in Arizona, and the best of them tested 1.68% copper, 0.33 g/t gold, 5.55 g/t silver, and 0.028% molybdenum across a 46-metre interval. The assays were for hole FCD-22-023 drilled outside the extent of the known mineral resource.
Hoe FCD-23-025 intersected 136.5 metres grading 0.54% copper and 0.83 g/t silver, including 0.87% copper and 1.22 g/t silver over 66.3 metres and 0.31% copper and 0.83 g/t silver over 309.4 metres.
Two of the remaining holes targeted a previously undrilled breccia immediately east of Copper Prince, and the last two were reconnaissance holes testing another breccia north of the resource area.
The 3-km long Copper Creek deposit is located in the heart of the prolific southwestern North American porphyry copper province. The project covers 65 km2 and is 100%-owned by Faraday.
Last summer the company produced a 43-101 compliant, open pit and underground resource estimate that includes 355.1 million tonnes in the measured and indicated category averaging 0.50% copper, 0.008% molybdenum, and 1.3 g/t silver (0.53% copper-equivalent). The amounts of contained metals are 3.9 billion lb. copper, 62.9 million lb. molybdenum, and 14.5 million oz. of silver.
The inferred resource is 75.0 million tonnes at 0.38% copper, 0.007% molybdenum, and 0.8 g/t silver (0.41% copper-equivalent).
Faraday continues to drill at Copper Creek to expand the resources, delineate high-grade zones, and test new targets. Phase 3 drilling will begin later this year.
The company has also begun a gold assaying program of historical drill core to determine the potential for inclusion in future resource estimates. Samples will also be taken for metallurgical test work.
