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Faraday Copper Announces Acquisition of Mercer Ranch at Copper Creek Project in Arizona
VANCOUVER, BC / ACCESSWIRE / February 27, 2023 / Faraday Copper Corp. ("Faraday" or the "Company...
About this update from Faraday Copper Corp
[{"type":"text","content":"Faraday Copper Announces Acquisition of Mercer Ranch at Copper Creek Project in ArizonaVANCOUVER, BC / ACCESSWIRE / February 27, 2023 / Faraday Copper Corp. (\"Faraday\" or the \"Company\") (TSX:FDY) is pleased to announce the acquisition of a land package (the \"Mercer Ranch\") for US$10 million (the \"Acquisition\"), consisting of approximately 6,000 deeded acres within 32,000 acres of controlled ranch land (Figure 1). The acquisition aligns with the Company's strategy of land consolidation, advancing and de-risking the Copper Creek Project.Paul Harbidge, President and CEO, commented \"The Mercer Ranch purchase is an important milestone at this early stage of advancing the Copper Creek Project that provides numerous benefits. The Mercers are supportive stakeholders and neighbours and will continue to operate the ranch for the foreseeable future.\"Acquisition of Mercer Ranch (Figure 1)Approximately 6,000 deeded acres (private land) within approximately 32,000 acres of surface rights through active grazing leasesAcquisition cost: US$10 millionUS$250,000 non-refundable deposit paid in 2022Closing subject to customary conditions and filingsStrategic benefitsLocation for potential third-party solar power generation facilityLand offsets for areas impacted by mining activitiesAdditional infrastructure locations and flexibilitySecondary mine access corridorMineral and water rightsFigure 1: Land Overview - Copper Creek and Mercer Ranch About Faraday CopperFaraday Copper is a Canadian exploration company focused on advancing its flagship copper project in Arizona, U.S. The Copper Creek project is one of the largest undeveloped copper projects in North America with open pit and bulk underground mining potential. The Company is well-funded to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. Faraday trades on the TSX under the symbol \"FDY\".For additional information please contact:Stacey Pavlova, CFA Vice President, Investor Relations & CommunicationsFaraday Copper Corp.E-mail: [email protected] Website: www.faradaycopper.comTo receive news releases by e-mail, please register using the Faraday website at www.faradaycopper.com.Cautionary Note on Forward Looking StatementsSome of the statements in this news release, other than statements o...