Red Canyon Resources Confirms Major Copper-Molybdenum Discovery!

Major Copper-Molybdenum Discovery

Red Canyon Resources announced the successful completion of the first diamond drill program at the Kendal Project in west-central BC. With all five diamond core holes intersecting significant copper-molybdenum mineralization and porphyry-style alteration, this is a major milestone for Red Canyon Resources!

Project Highlights:

• Five Drill Holes spanning 2,562 meters, reaching depths between 250 to 450 m, explored a 1.0 km by 0.5 km area within Kendal’s expansive 2.5 km by 1.5 km alteration footprint.

• Strong Alteration Patterns were observed, with multi-generational veining indicative of a substantial mineralized copper-moly porphyry system.

• Assay Results: The first drill hole, RCKD-24-001, delivered a promising 0.10% CuEq from the surface to 601.7 m, including an interval of 123.0 m grading 0.16% CuEq.

• The mineralization zones are believed to surround a higher-grade core, revealing even more potential within this significant copper-molybdenum system.

The way for further exploration

Red Canyon Resources representatives highlighted the exceptional scale and mineral richness across drill sites, emphasizing the large alteration footprint and multiple hydrothermal vein generations, both of which signal robust fluid flow indicative of a high-grade porphyry core.

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 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”.

Information about drilling and future works

5 Drill Holes of a total Depth: 2,562m, focused on the highly mineralized northeastern portion of Kendal, covering a 2.5 km x 1.5 km area with altered and mineralized volcanic and porphyritic intrusive rocks.

Assays from remaining drill holes are expected by late December 2024 to early January 2025.

This initial drilling success paves the way for further exploration to unlock Kendal’s full potential.