Red Canyon Drilling Confirms Discovery of Significant Copper- Molybdenum Mineral System at its 100% owned Kendal Project
Suite 1210 – 1130 West Pender Street
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Red Canyon Drilling Confirms Discovery of Significant Copper-
Molybdenum Mineral System at its 100% owned Kendal Project
Vancouver, British Columbia, November 5, 2024: Red Canyon Resources Ltd. (“Red Canyon”
or the “Company”) (CSE: REDC | OTCQB: REDRF) is pleased to announce it has now completed
the inaugural diamond drill program on its 100% owned Kendal Project in west-central British
Columbia. The Company successfully drilled five diamond core holes, testing the northeastern
area of the Kendal surface alteration system. All drill holes intersected significant porphyry-style
alteration, multiple vein sets and variable visual copper and molybdenum (moly) mineralization
throughout.
Company Highlights:
• Five drill holes totalling 2,562 metres (“m”) have tested a portion of the upper 250 to 450
m of the Kendal system measured vertically from surface, and over an area covering
approximately 1.0 km by 0.50 km of a mapped 2.5 km by 1.5 km alteration footprint.
• Strong alteration is pervasive in all drill holes with multi -generational porphyry related
veining identified throughout. Alteration is predominately propylitic to inner propylitic with
areas of sericite (QSP), sericite-chlorite ± clay (SCC) and remanent potassic zones. Multi-
generational veins, with copper and moly mineralized sets, suggest Kendal represents a
large, mineralized copper-moly porphyry system.
• Assays received from the first drill hole (RCKD-24-001) at Kendal returned 0.10% CuEq*
starting from surface to 601.7 m, including 123.0 m grading 0.16% CuEq*.
• Drill intercepts are interpreted to represent zones of mineralization above or adjacent to
an anticipated central higher-grade core within this mineralized calc-alkaline copper–moly
porphyry system.
Wendell Zerb, the Chairman and CEO of the Company, states: "This first ever drill program at
Kendal has not only confirmed a new copper–moly discovery, but it has also immensely expanded
our confidence and understanding of the size and overall strength of the greater mineral system.
Every drill hole, from top to bottom, is significantly altered with multiple vein sets representing a
very robust mineral system. We are also confident this initial scout drill program has only
“scratched” a portion of the copper–moly system, in a small subset of the overall Kendal project
area. Copper–moly porphyry mines worldwide are some of the largest, highest value sources of
metal and it’s especially rare for a small cap mineral exploration company to discover and control
100% of potentially a large copper-moly system, with importantly exceptional infrastructure”.
Dr. Craig Hart, Chief Geoscientist of the Company, states: – “The extensive mineralized alteration
footprint encountered with these first-ever drill holes at Kendal, indicates a porphyry system with
a massive amount of fluid flow. The large alteration footprint and corresponding multi-generations
of hydrothermal veins give us confidence about the scale of the system and the potential to target
towards a high-grade core. This early drill program at Kendal was a great success in confirming
a copper porphyry discovery, and additional work is required to find the best of the Kendal
system”.
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Kendal Project
Kendal c omprises five 100%-owned mineral claims tota lling 2,738 hectares located in west -
central British Columbia approximately 25 km northeast of the city of Terrace, a regional
infrastructure hub with a well -serviced airport. Infrastructure is excellent with four intersecting
highways, hydroelectric power, rail corridors, and port facilities approximately 120 km to the west
at Prince Rupert. The project has direct road access, only 3.5 km from Highway 16. The project
area lies within the traditional territory of the Kitselas First Nation.
Figure 1: Kendal Project location map with Red Canyon claims.
Kendal Project Drilling
Red Canyon has completed the first ever diamond drill program at its 100% owned Kendal project.
The program consisted of five drill holes totalling 2,562 m. Drilling targeted the northeastern
portion of the K endal copper-moly porphyry system, represented by significant altered and
mineralized andesitic volcanic and porphyritic intrusive rocks exposed over 2.5 km x 1.5 km
(Figure 2). Drill holes have been sampled from top to bottom with initial assays received from drill
hole RCKD -24-001. Assays from a ll remaining holes are pending and anticipated by late
December 2024 to early January 2025.
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Figure 2: Kendal drill program test area. Magnetic analytic signal image over the central part of the Kendal
project indicates a (> 2 km2) hydrothermal alteration footprint defined by a large zone of depressed magnetic
response from potential hydrothermal magnetite destruction within a broader region of gossanous pyrite
alteration.
The 2024 drilling program at Kendal project confirmed the discovery of a substantial mineralized
porphyry system with an extensive alteration footprint spanning a minimum of 1.5 km2. Drilling
consistently intersected a succession of highly altered and mineralized volcanics and multiple
cross-cutting quartz diorite and microdiorite porphyry intrusions . Multiple generations of
hydrothermal veins cut across the porphyry intrusions and volcanic host rocks. Based on the vein
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mineralogy and cross-cutting relationships, at least seven vein generations have been identified,
including multiple sets that host chalcopyrite and moly mineralization (Figure 3).
Figure 3: Select core samples from Kendal drill hole RCKD-24-001
The drilling was conducted from three drill locations at Kendal: one road accessible pad on the
west side of Kendal Creek and two helicopter-supported pads on the east side of Kendal Creek.
Collar locations were set up at approximately 90 m to 115 m above the base of Kendal Creek.
Drill holes RCKD-24-001, 002 and 005 targeted areas below exposed porphyritic intrusions in
Kendal Creek and within the interpreted magnetic destruction zone coincident with gamma-ray
radiometric signature with very low thorium/potassium (Th/K) ratios (Figures 2 and 4). Drill holes
RCKD-24-003 and 004 tested magnetic high and low features with coincident elevated copper
and moly geochemistry . Both drill holes were collared at relatively low elevation to test the
northeast portion of the 2.5 km by 1.5 km surface alteration footprint.
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Figure 4: Kendal drill plan with drill hole collars and traces on airborne magnetic RTP map.
Table 1 2024 Kendal Drill Hole Details
Hole UTM_Grid UTM_East UTM_North Collar elev Azimuth Dip TD
m m
RCKD-24-001 NAD83_Z9 543729 6046214 558 250° -60° 601.7
RCKD-24-002 NAD83_Z9 543729 6046214 558 285° -55° 604.7
RCKD-24-003 NAD83_Z9 544154 6046493 497 172° -58° 452.9
RCKD-24-004 NAD83_Z9 544147 6046492 497 270° -60° 395.0
RCKD-24-005 NAD83_Z9 543255 6046535 569 210° -69° 507.8
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Figure 5: Drill pad location 1 (bottom), collar location for RCKD -24-005. Drone photo is looking south with
Kendal Creek (far left) and North Fork drainages highlighting strong pervasive phyllic alteration.
Drill hole RCKD-24-001 (DH001) Azimuth 252 deg, Dip -60°
DH001 tested the Kendal alteration system collared from fly-in drill p ad 06 on the east side of
Kendal Creek ( Figure 4). Drilling immediately encountered interlayered, porphyritic andesite,
medium-grained phaneritic andesitic flows and volcaniclastics of Early Jurassic Telkwa
Formation, cut by multiple diorite and microdiorite porphyry intrusions that are subsequently cut
by intra-mineral quartz diorite and late-mineral feldspar porphyry dikes.
The porphyry intrusions and host andesitic volcanics have undergone intense propylitic (chlorite-
epidote-carbonate-pyrite) alteration and silicification, which is overprinted by sericitic (QSP) and
sericite-chlorite ± clay (SCC) alteration at deeper levels. This alteration suite is interpreted to be
within the shell of a mineralized copper-molybdenum calc-alkaline porphyry system.
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Figure 6: Cross Section A - A’ (Figure 4) Drill hole RCKD-24-001- looking north
Multi-generational porphyry -related veins are consistent ly intersected throughout the hole.
Mineralization is associated with quartz veins and is consistently with ~3% to 4% pyrite and <0.5%
chalcopyrite and < 0.5% molybdenum. Quartz-chlorite-magnetite-sulfide vein densities increase
at depth in the drill hole and generations of quartz-chlorite-magnetite-sulfide, quartz-anhydrite-
chlorite-sulfide and micro-veinlets of pyrite all indicated a higher temperature zone from 375 to
450 m with a slight increase in chalcopyrite mineralization.
Table 2 Drill results from Kendal Project RCKD-24-001
Hole ID
From To Interval Cu
Grade
Mo
Grade
Ag
Grade
CuEq*
Grade Az Inc
TD
(m) (m) (m) (%) ppm ppm (%) (m)
RCKD-24-001 7.80 601.7 593.9 0.051% 58.5 0.43 0.098%
252 -60 601.7
including 368.0 491.0 123.0 0.082% 103.8 0.44 0.162%
Copper Equivalent (CuEq) shown in the Table above are calculated on a basis of US$ 3.75/lb for Cu, US$ 25/oz for Ag and US$ 27.5/lb for Mo, with 80% metallurgical
recoveries assumed for all metals (ie no assumptions have been made for recoveries at this stage). The formula is: CuEq. = Cu % + (Ag grade in g/t x (Ag recovery / Cu
recovery) x [Ag price ÷ 31.1] / [Cu price x 2204.6] + (Mo grade in % x (Mo recovery / Cu recovery) x [Mo price x 2200] / [Cu price x 2204.6]).
Link to complete core photo library for RCKD-24-001
Drill hole RCKD-24-002 (DH002) Azimuth 285 deg Dip -55°
DH002 tested the Kendal alteration system collared from Pad 6 on the east side of Kendal Creek
(Figure 4). Like DH001, DH002 drilling consistently intersected a succession of highly altered
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and mineralized andesitic volcanics and multiple cross -cutting quartz diorite and microdiorite
porphyry intrusions.
A systematic pattern of hydrothermal alteration, vein ing and copper-sulphide mineralization in
DH002 builds on the significant footprint of the Kendal porphyry system. The Company considers
it noteworthy that the drill hole intersected multiple crosscutting porphyry intrusions including a
possible causative intrus ive at 365 m, responsible for the extensive >1.5 km2 wide alteration
footprint at Kendal . This intrusion is a distinct phase of equigranular microdiorite , emplaced as
stock and d ikes to the end of hole at 604.7 m. The alteration intensities, vein-stockwork
mineralization, magnetic intensity and periodic silica flooding , as well as remnant potassic
alteration generally continued to increase with depth.
DH002 assays are pending.
Link to complete core photo library for RCKD-24-002
Drill hole RCKD-24-003 (DH003) Azimuth 172 deg Dip -58°
DH003 is a 500 m step out to the NE from DH001/002 designed to test a magnetic high/low
interface adjacent to elevated copper and moly rock and soil geochemistry. This fly-in location,
Pad 9, is approximately 60 m lower elevation than Pad 6, on the northeast portion of the surface
alteration footprint (Figure 4).
The drill hole intersected extensive andesitic volcanics characterized by strong propylitic alteration
locally overprinted by intense silicification and hydrothermal magnetite. The andesite units are cut
by small diorite dikes with faulted contacts subsequently invaded by late-quartz-carbonate-pyrite
veins. Andesitic volcanics in this hole host a series of multi-generational veins that carry sulphide
mineralization. The top 173 m of the drill hole highlighted a similar sequence of early to late-stage
vein generations as identified in DH001/002.
The alteration intensity and vein densities fluctuate downhole with silicified zones represent ing
vein stockwork mineralization , including B -veins and pyrite -chlorite-magnetite veins. The
alteration changed from sericite -chlorite ± clay (“SCC”) to distal propylitic at 173 m indicating a
more distal propylitic alteration to the end of hole.
DH003 are assays pending.
Link to complete core photo library for RCKD-24-003
Drill hole RCKD-24-004 (DH004) Azimuth 270 deg Dip -60°
DH004 was also collared from Pad 9, tested from the margins into a prominent 500 m2 wide
magnetic anomaly, adjacent to elevated copper and moly rock and soil geochemistry.
DH004 cut extensive andesitic volcanics with repeated propylitic, sericite -chlorite alteration and
silicification coincident with a sequence of multi -generational veins as identified in DH001/002.
The upper 144 m indicated a gradual increase in the alteration intensity, vein densities and
copper-sulphide mineralization down to 245 m.
The propylitically-altered andesite flows host multiple fluid pathways with intense silicification and
2% to 4% fine-grained disseminated magnetite, confirming the source of the magnetic anomaly
targeted to the west of the drill hole collar . Hydrothermal magnetite was identified in association
with distinctive quartz-pyrite-magnetite-chlorite veining. The alteration intensity fluctuates from