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United States

Copper Creek Project

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Overview

Mine TypeOpen Pit & Underground
StagePreliminary Economic Assessment
Commodities
  • Copper
  • Silver
  • Molybdenum
Mining Method
  • Truck & Shovel / Loader
  • Block caving
Mine Life... Lock
SnapshotThe Copper Creek Project will be mined by both conventional truck and shovel open pit methods at surface, and block caving methods underground. The main process will beneficiate copper, molybdenum and silver from both transitional and sulphide materials by froth flotation. The second process will extract copper from oxide materials by heap leaching.

The PEA provides an excellent basis for the future development of Copper Creek and is the beginning of the Faraday story. The projected low initial capital and upfront open pit mine unlocks a large underground operation, for a combined mine life of more than 30 years. The project is expected to grow over time as the property is endowed with numerous untested exploration targets.

Upcoming Project Milestones:
• Ongoing results from the Phase III drill program;
• Updated technical report in the first half of 2025.

Owners

SourceSource
CompanyInterestOwnership
Faraday Copper Corp. 100 % Indirect
Faraday, through its wholly owned subsidiary Redhawk Copper Inc. controls 100% of the Copper Creek Project.

Contractors

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Deposit type

  • Porphyry
  • Vein / narrow vein
  • Breccia pipe / Stockwork

Summary:

Deposit Types The Copper Creek district contains mineralization styles broadly consistent with magmatic-hydrothermal systems, also known as porphyry systems. However, Copper Creek has some geologic characteristics that are uncommon or subordinate in other well-known porphyry copper deposits and differ from the well-known models (e.g., Lowell and Guilbert, 1970; Seedorff et al., 2005; Sillitoe, 2010), including the prevalence of mineralized EH-style veins (Proffett, 2009), batholith-hosted mineralization, and the abundance of breccia-hosted mineralization. Copper Creek is primarily a Cu-Mo system. Generally, alteration zonation, typical for porphyry deposits elsewhere (e.g., Halley et al., 2015), is weakly developed in batholith-hosted systems with only subtle potassic alteration and poorly developed propylitic halos. Intense argillic or advanced argillic alteration is not widespread. Distal polymetallic veins (Pb-Zn-Mn-Cu-Ag) are also known at Copper Creek and were the first to be mined in the district (Bluebird Mine and Bunker Hill), but these are not currently part of the resource. Supergene oxidation and secondary copper enrichment at Copper Creek is minor compared to other copper deposits in the Southwestern North American Copper province and restricted to the uppermost 20 to 40 m. Mineralization Copper Creek is a low-sulphide mineral system compared to other porphyry systems in Arizona. A strong, overall vertical and lateral sulphide mineral zoning pattern exists with pyrite near-surface, grading with depth to pyrite>chalcopyrite, chalcopyrite>pyrite, then chalcopyrite>bornite, bornite> chalcopyrite, and finally bornite>molybdenite. Mineralization occurs in three fundamental styles: • High-grade mineralization is related to chalcopyrite and pyrite cementing breccias. This style predominates in breccias near present-day surface. Molybdenum and gold grades vary between breccias with the most-consistent grades observed at Childs Aldwinkle. • The Keel Zone represents a magmatic cupola. Mineralization in the upper part of the Keel Zone consists of coarse chalcopyrite and lesser pyrite and fine-grained disseminated sulphides associated with discontinuous thin quartz veins, potassium feldspar alteration, and anhydrite. The deeper part of Keel is characterized by miarolitic cavities filled with potassium feldspar and later bornite and chalcopyrite as well as molybdenite. This style can have highgrade mineralization. • American Eagle mineralization is dominated by EH-style veins. Mineralization is somewhat lower-grade compared to the previous styles but forms a greater volume. Most of the copper occurs above the monzogranitic layer at depth, but molybdenum is also relatively high below that host rock compositional boundary. In general, copper correlates with silver. Gold (Au) analyses are limited, but where data are available, gold grades are low. However, gold is locally significant at Childs Aldwinkle. Crosscutting relationships indicate that EH-style mineralization occurred early in the development of the system but after the intrusion of early granodiorite porphyries (gdp1 and gdp2). Mineralization at Keel is intimately associated with the intrusion of gdp2, and current interpretations suggest overprints the Keel mineralization. In general, breccia-style mineralization post-dates EH veins, but in some areas (e.g., Copper Giant area) multiple overprinting breccia systems may be present. The overall sulphide and alteration zonation within breccias is consistent with a slight tilt to the east. Mineralization at Holly, Glory Hole, and Old Reliable breccias is dominated by pyrite>chalcopyrite; these are hosted by GHv, which overlie the TKgd. The Copper Prince, Copper Giant and Childs Aldwinkle breccias, which are located farther to the northeast, have comparatively less pyrite and crosscut the Copper Creek Granodiorite, suggesting a deeper level of exhumation in the footwall of southwest dipping extensional faults. Breccia bodies likely have a magmatic root zone but with the exception of Keel and Mammoth, breccia bodies lack the drill density at depth to confidently locate their likely source of magmatic fluids and metals. Oxidation affects the near-surface mineralization to a limited degree. Complete oxidation is confined to the uppermost 20 m or less, whereas mixed sulphide and oxide mineralization is limited to the uppermost 30 to 40 m of the transitional zone. Secondary sulphide enrichment (chalcocite) is most prevalent at Old Reliable, whereas localized occurrences are present at Childs Aldwinkle and Copper Prince. The limited oxidation and supergene enrichment, together with the structural preservation, distinguishes Copper Creek from other copper deposits in the southwestern U.S., such as the Ray or San Manuel-Kalamazoo deposits. Veining Mineralization in the Copper Creek district is closely related to EH veins, which form vertical sheeted vein zones and domal-sub-horizontal zones, with less defined A, B, and D-vein sets. The former is more common south of the CCZ in the American Eagle mineralized zone, while the latter is common north of the CCZ in the Copper Giant mineralized zone. Early introduction of copper occurred in the sheeted EH veinlets with centimetre-scale envelopes of sericite>biotite ± potassium K-feldspar and widespread disseminated chalcopyrite. Copper grades exceed 0.5% Cu where steep east-northeast-striking EH vein sets cut a shallowly dipping set. EH veins are cut by and reopened by D-type quartzsericite ± tourmaline-specular hematite, which contain variable amounts of pyrite, chalcopyrite, bornite, molybdenite, tennantite, and lesser galena. Distal veins include polymetallic Pb-zinc (Zn)-manganese (Mn)-Cu-Ag veins at the historical Bluebird and Bunker Hill mines, located, respectively, some 1.5 km northeast and 2.2 km south from the Mammoth.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

The base annual throughput would be primarily sulphide material, with some transitional material mined from the open pits. Oxide material recovered near-surface in the early years of the anticipated mine life would be segregated and processed separately in a heap leach facility. The heap leach contribution will be in addition to the 11.0 Mt base annual throughput.
CommodityProductUnitsAvg. AnnualLOM
Copper Cathode M lbs 95
Copper Payable metal M lbs 1063,162
Copper Metal in concentrate M lbs 3,181
Copper Total M lbs 3,276
Copper Concentrate kt 4,809
Silver Payable metal koz 3259,704
Silver Metal in concentrate koz 10,214
Molybdenum Concentrate kt 42
Molybdenum Payable metal M lbs 1.445
Molybdenum Metal in concentrate M lbs 46
Copper Equivalent Payable metal M lbs 1133,400

Operational metrics

Metrics
Daily processing capacity  ....  Subscribe
Daily processing capacity  ....  Subscribe
Annual processing capacity  ....  Subscribe
Annual processing capacity  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2023 study.

Production Costs

CommodityUnitsAverage
Total cash costs Copper USD  ....  Subscribe
All-in sustaining costs (AISC) Copper USD  ....  Subscribe
Assumed price Molybdenum USD  ....  Subscribe
Assumed price Copper USD  ....  Subscribe
Assumed price Silver USD  ....  Subscribe
* According to 2023 study / presentation.
** Net of By-Product.

Operating Costs

CurrencyAverage
OP mining costs ($/t mined) USD  ....  Subscribe
UG mining costs ($/t mined) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2023 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Expansion CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Closure costs $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
UG OpEx $M USD  ......  Subscribe
OP/UG OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 2,294
Transportation (haulage) costs $M USD 246.4
G&A costs $M USD 528
Total OpEx $M USD  ......  Subscribe
Income Taxes $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 7% $M USD  ......  Subscribe
After-tax NPV @ 7% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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EV - Electric

Personnel

Mine Management

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EmployeesYear
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Aerial view:

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