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Red Canyon Upgrades Kendal Porphyry Copper Project Potential
Company Highlights:
The Company has completed a detailed lithogeochemicalvectoring study and magnetic inversion modeling on its 100%-owned
Kendal copper project inBritish Columbia . These studies have significantly enhanced our confidence thatKendal may represent a newly discovered, never drill-tested, porphyry copper system;In late 2023, the Company collected over 200 rock outcrop samples throughout the
Kendal area and using four-acid digestion with high-precision trace-element geochemical analyses, the Company identified important chemical enrichment and depletion zones typical of established porphyry models. Equally important, these studies suggest the erosional level of the porphyry system atKendal could be directly above and in close proximity to the modeled zone of copper mineralization;The field program also included a project-wide, 213-line-kilometre airborne magnetic and radiometric survey. Fathom Geophysics conducted modeling of the magnetic data including a magnetic vector inversion that outlines an interpreted, 2-km-long elliptical zone of magnetite destruction coincident with the core target area at
Kendal ;Based on the results of these studies, the Company has completed final drill hole targeting in advance of an anticipated initial drill program as early as fall 2024; and
The Company controls a portfolio of seven 100%-owned, internally generated copper and copper–gold projects, four of which are drill ready, including
Kendal .
Dr.
About the
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Figure 1: Kendal Project location map.
A key focus of the
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Figure 2: Kendal project topographic orthophoto looking south, with outline of mapped phyllic alteration (yellow line) and focus area of the Q4/23 trace element rock sampling program (blue line).
Kendal Lithogeochemical Vectoring Study
In the fourth quarter of 2023, the Company initiated a lithogeochemical vectoring study to better understand the porphyry copper potential within the project area and approximately 200 specimens of variably altered and randomly mineralized whole rocks were collected within the area of interest (Figures 2 and 4).
The sample suite was analysed for trace element lithogeochemistry using four-acid digestion, which ensures that key minerals are dissolved. High-quality mass spectrometry is utilized to ensure high precision at low detection limits. This analytical technique allows for the recognition of subtle trends in the data that indicate hotter and potentially more proximal fluid sources, or more simply, the identification of the core of a potential mineralizing system.
Theenrichment or depletion of certain key elements provides a model of trace element behavior that reflects hotter and cooler temperatures within the vertical geochemical plume that develops above porphyry copper deposits. This enrichment or depletion forms the basis of the porphyry copper lithogeochemical footprint model of Halley et al. (2015).Interpretation of
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Figure 3: Geochemical data from
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Figure 4: Examples of
The data collected by Red Canyon clearly suggests the location and distribution of the porphyry copper target on the
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Figure 5: Maps showing compiled geochemical distributions of depleted (left) and enriched (right) elements summarized by ellipses on top of the map showing copper enrichments. The 800 x 500 metre region of Cu enrichment is overlain by coincident depletions in Na, As, Sr, Li and Mn and enrichments of K, Mo, W and Sn. Importantly, there is a >700 m sampling gap to the east of the ellipses.
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Figure 6: (left)
For a comprehensive review of the Porphyry Copper Lithogeochemical Program at
Kendal Magnetics and Radiometrics
The 2023 field program also included a project wide213-line-kilometre airborne magnetic and radiometric survey. Fathom Geophysics assisted the Company with modelling the magnetic data including the completion of 3D inversions.
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Figure 7: Magnetic analytic signal image over the central part of the
Key geological, geochemical and geophysical features that are typically characteristic of mineralizing porphyry copper systems all overlap and are centered around a 600 x 600 metre region of numerous small, altered intrusions and dykes. This core area is surrounded by a nearly 2-km-wide zone of depressed magnetic responses, as seen in aeromagnetic data, outcrop and hand sample magnetic susceptibility measurements. This magnetic destruction zone (Figure 7) potentially formed from hot hydrothermal fluids that destroyed the magnetite that was originally part of the mainly mafic volcanic host rocks.
The gamma-ray radiometric response outlines areas with very low thorium/potassium (Th/K) ratios that reflect intense hydrothermal alteration through the significant addition of potassium (Figure 7), in this case mostly from sericite-alteration of mafic volcanic rocks.
References
Halley, S; Dilles, JH; and Tosdal, RM; 2015. Footprints: Hydrothermal Alteration and Geochemical Dispersion Around Porphyry Copper Deposits. SEG Newsletter 100, 1,12-18.https://doi.org/10.5382/SEGnews.2015-100.fea
Corporate Strategy
Red Canyon is focused on exploring for copper and copper-gold related mineral systems within mining friendly jurisdictions in
Red Canyon intends to drill test several priority projects in 2024 with a goal of bringing targets to a decision point as quickly and cost-effectively as possible. The Company intends to advance several additional projects to a drill stage by executing geologic, geochemical and geophysical programs. Red Canyon is executing a corporate strategy of seeking out strategic alliances and will evaluate opportunities to joint venture, option or sell projects to qualified partners to maximize its exposure to exploration success.
The Company’s 100% owned copper-gold
Additional information on the Peak and
Additional information on the Company’s other projects can be found on the Company’s websitewww.redcanyonresources.com. Further projects are in development and details will be announced as information becomes available.
About Red Canyon Resources
For more information, please visit the Company's website atwww.redcanyonresources.com.
Red Canyon is part of the
On Behalf of the Board of Directors
Chairman and Chief Executive Officer
+1 (604) 681-9100
wzerb@redcanyonresources.com
For further information, please contact:
Investor Relations Manager
+1 (778) 867-5016
bzerb@redcanyonresources.com
Lithogeochemical Sampling and Analytical Procedure – The Lithogeochemical samples were collected by rock hammer over a predetermined sampling area, based on outcrop exposure in the
Qualified Person - The technical information contained in this update has been reviewed and approved by
Forward-Looking Statements:
This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, exploration activities and the specifications, targets, results, analyses, interpretations, benefits, costs and timing of them, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risks related to the anticipated business plans and timing of future activities of the Company, including the Company’s exploration plans and the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, the ability of the Company to obtain the required permits, changes in laws, regulations and policies affecting mining operations, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading “Risk Factors” in the Company’s prospectus dated
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.
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