Faraday Copper is focused on its Copper Creek project in Arizona, US. The 78 square kilometer property is located in a region that is home to several current and past-producing copper mines. The project hosts a 3 kilometer long resource area that has seen more than 260,000 meters of drilling.
Faraday released a preliminary economic assessment (PEA) for the project. The report demonstrated an after-tax net present value of US$713 million, an internal rate of return of 15.6 percent and a payback period of 4.1 years, using a base-case copper price of US$3.80 per pound.
According to the PEA, Copper Creek hosts a combined measured and indicated resource of 4.2 billion pounds of copper from 421.9 million metric tons grading 0.45 percent copper. It also holds 74.6 million pounds of molybdenum and 15.5 million ounces of silver.
