Video: Faraday Copper drills for PEA update in Arizona

Faraday Copper (TSX: FDY; US-OTC: CPPKF) is drilling at its main Copper Creek project in Arizona to update its preliminary economic assessment (PEA) in the third quarter.

CEO Paul Harbidge says that with two rigs turning at the project, the company should hit almost 30,000 metres of new drilling this year as it focuses on open-pit resource growth.

“Copper Creek is…one of largest undeveloped copper resources held by a junior in the United States,” Harbidge said last month at the AME Roundup conference in Vancouver. The project hosts almost 5 billion lb. of contained metal “with a lot of exploration upside.”

While its PEA update is months off, Faraday meanwhile has the backing of such key figures as Franco-Nevada (TSX: FNV; NYSE: FNV) founder Pierre Lassonde, Canadian energy investor Murray Edwards, and the Lundin Group of companies, which holds a 19.9% stake in Faraday.

Watch the full chat below with The Northern Miner’s western editor, Henry Lazenby.