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Red Canyon - Osiris Project Drill Updates, Nautilus & Camp Target Developments

The KE Report Sep 21, 2026 16:23

Summary

Auger drilling across the Osiris project's five target areas returned altered porphyry with chalcopyrite-bearing quartz veins at Nautilus, sharpening the drill focus there.

Red Canyon plans a small fall drill program at Nautilus alongside 3D IP, while Camp assays stay pending and soil copper extends 2 km north.

The EV target, a large sub-vertical EM conductor Red Canyon's geophysical consultant sees as possible massive sulfides, will get one or two fall drill holes.

Red Canyon's wider portfolio adds 3D IP at the Kendal copper project in BC and 3D modeling at the Scraper Springs porphyry in Nevada.

Cory Fleck's takeaways

  • Top takeaway Frames the update around the September 14, 2026 announcement of completed auger drilling and expanded geochemistry, foregrounding Nautilus as the priority target.
  • Closes the call by noting Red Canyon's broader copper pipeline (Kendall, Scraper Springs) and inviting listener questions, but does not advance an independent analytical thesis.

Wendell Zerb's takeaways

  • Top takeaway Argues Nautilus has all the ingredients of a major copper-gold porphyry system — favorable host geology, magnetic features, copper anomalies in soils across 3.5x3.5 km, IP anomalies, and now auger-confirmed altered porphyry with chalcopyrite — calling it 'one of the best targets I've seen in a long time.'
  • Plans a small fall drill program at Nautilus (after additional IP over the northern target) and intends to test the EV massive-sulfide EM conductor with one or two holes, while framing EV as high-risk, high-reward.
  • Views Camp as a large, wide-open system — copper-in-soil extends ~2 km beyond the existing 2026 drill footprint — with assays pending to guide next year's program.
  • Remains positive on Kendall: all 10 prior holes hit copper mineralization but missed the core of the system, and a 3D IP program is now underway to vector toward the heart of the porphyry.
  • Flags Scraper Springs (Nevada) as a long-standing favorite copper porphyry target currently in 3D geophysics modeling, pre-drill stage.