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Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8% Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8%
Drill Results Routine +

Faraday Copper Reports Drill Results Including Near-Surface Copper Mineralization in the American Eagle Area

Faraday Copper halts phase IV drilling at Copper Creek as BHP’s San Manuel acquisition nears the definitive stage.

By The Northwire Desk — AI Analysis Jun 24, 2026 · 07:05 FDY · 5.58 Faraday Copper Corp.
Executive Summary
  • Faraday Copper Corp. announced assay results from 18 drill holes completed during its Phase IV program at the Copper Creek Project in Arizona.
  • Key intercepts highlight near-surface copper oxide mineralization, including 35.35 m at 0.58% Cu in the American Eagle area and 37.00 m at 0.45% Cu (0.36% acid soluble) starting at surface east of Copper Giant.
  • The Phase IV open-pit resource definition program is now complete, with total drilling reaching 15,050 m across 53 holes.
  • Drilling operations were paused on June 20, 2026, pending the proposed acquisition of BHP's San Manuel Property. Management expects drilling to resume in fall 2026 post-acquisition closing.
  • Additional targets identified include porphyry-style veins on the Sunrise trend and infill drilling results at Mammoth/Childs Aldwinkle and Marsha's Pocket.
  • QA/QC protocols followed ALS Laboratories standards with certified standards, blanks, and field duplicates.
Material Impact
  • The news is a routine, incremental follow-up to previous Phase IV drill releases and the March 2026 announcement of the BHP San Manuel acquisition.
  • The completion of Phase IV and the subsequent pause for M&A integration were already priced into the stock following the March 2026 private placement and LOI.
  • The oxide intercepts reinforce the potential for early cathode production and heap-leach economics, but do not introduce fundamentally new catalysts or change the near-term development timeline.
  • No material deviation from prior expectations; the market has already factored in the M&A pathway and the pause in exploration activity.
FDY · Price
Company Overview
  • Faraday Copper is an exploration and development company focused on the Copper Creek Project in Pinal County, Arizona.
  • The project features near-surface copper oxide and secondary sulfide mineralization amenable to low-CAPEX heap leaching and early cathode production.
  • The company is pursuing a transformative acquisition of BHP's San Manuel Property, which would combine legacy mine infrastructure, deposits, and tailings with Copper Creek to create a multi-asset copper district.
  • The combined land package spans approximately 27,000 acres with shared infrastructure potential, aiming to reduce environmental footprint and enable staged development.
Read the original news release →

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Cash-rich Faraday reports a deeper Q2 loss and reiterates its plan to close the San Manuel mine by the end of Q3.

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