Faraday Copper CEO Paul Harbidge takes Proactive's Stephen Gunnion through the exploration and development company's two projects: Copper Creek in Arizona, one of the largest undeveloped copper projects in the US, and the Contact Copper Project in Nevada.
Following the release of the final two holes of its Phase II drill at Copper Creek, Harbidge said the results are encouraging, confirming high-grade extensions to open pit resources and indicating the potential for further expansion.
Looking ahead, Faraday Copper plans to initiate a 20,000-meter drill program in the fourth quarter, focusing on gold enrichment and integrating various datasets to enhance the project's value. The company boasts significant copper reserves, with an initial open-pit stage followed by bulk underground mining, potentially extending the mine life to 30 years.
Copper's prospects appear bright due to increasing demand driven by the clean energy transition. Citi Group predicts copper prices rising to over $5 by 2025.
Faraday Copper is well-positioned to capitalize on this trend with its projects and exploration work, aligning itself with the anticipated surge in copper demand for renewable energy applications, electric vehicles, and grid infrastructure.
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