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Red Canyon Resources - Osiris Project: Drilling Updates, Target & Land Package Expansion

The KE Report Aug 10, 2026

Summary

Camp target drilling at Red Canyon's Osiris returned visible copper and encouraging alteration, but assays remain pending to confirm a broader 2.7-km system.

Nautilus Prime showed classic IP geophysics for porphyry mineralization; EV is a high-risk large EM conductor that could be sulfide or graphite.

Red Canyon staked 18 new claims around the camp target on August 6, locking in underexplored ground along the Quesnellia arc.

The CEO keeps all projects open to JV partners while pursuing a hybrid model of self-funding initial drilling on Kendall and Atcheron.

Cash stands at about $2.2M; Tech Resources owns 9.9%; Red Canyon stays open to flow-through financings for future drill programs.

Cory Fleck's takeaways

  • Top takeaway Frames the interview around investor-relevant metrics, pressing Wendell on actual meterage versus the original 4,000-meter plan and pushing for clarity on next-phase allocation
  • Probes on partnership and JV strategy, noting that deeper porphyry drilling is expensive and asking whether Red Canyon would bring in a strategic partner

Wendell Zerb's takeaways

  • Top takeaway Argues the company has confirmed the Camp copper-gold system, citing visible copper in core from eight holes for ~2,100 meters and saying assays are pending
  • Frames Nautilus Prime as showing a classic IP geophysical signature he wants to drill into fall, and pitches EV as a high-risk, potentially massive sulfide target backed by BC's strongest EM conductor
  • Attributes the August 6 land expansion of 18 mineral claims northwest of Camp to a prospective belt with prior geophysics and geochemistry but limited drilling
  • Describes a broader portfolio pipeline: Kendall (BC porphyry, exploration restarting), Scraper Springs (Nevada, geophysics being reanalyzed), and Atcheron Tez Zone (modeling for another drill program)
  • States Red Canyon has $2.2M in cash after the current program, with Tech Resources disclosed as a 9.9% shareholder, and says the company is open to JV or earnings deals on any project

Mr. Dan Core Ph.D.'s takeaways

  • Top takeaway As Red Canyon's geophysical advisor, modeled the EV target EM conductor as two steeply dipping tabular bodies roughly 20 meters wide
  • Helped develop the high-risk hypothesis that the strong EM signature at EV may reflect a massive sulfide deposit rather than graphite