Stamper Oil & Gas Corp. announced the first assay results from Hole RED 23-03 drilled during its 2023 Redonda Copper Molybdenum and Rhenium fall drill program. For a mine currently in production: Typical cut off 0.10% acid soluable copper; profitable production Copper grade 0.17%; profitable production Molybdenum 0.008.

The currently known highest grade copper-moly zone and associated breccias extend over a defined northerly horizontal length of over 600m, a width of at least 500m and a vercal extent of 300m. This is higher grade, potassic altered centre of mineralization is composed of variable density of dark mafic-rich fragments. Higher grades are clearly related to abundance of dark fragments in vugs and heavy chalcopyrite/molybdenite and pyrrhotite replacement.

However, some high-grade copper/MoS2 is also associated with the density of quartz stockworks and fracture filling. The locus of magmatic-hydrothermal multi-phase intrusives and brecciation associated with mineralization is distinct from the surrounding Coast Plutonic Complex although current level of mapping has not well documented the contact relationships. The multi-phase system is clearly younger than the enclosing Coast Plutonic rocks.

The very large breccia-agmatite body to the northeast is sparsely mineralized on surface but has not been tested by drilling. Previous operators suggest that the focus of mineralization may occur at depth to the northeast as interpreted by the magnetic signature. The company is considering an aggressive program in 2024 which may consist of: (1) Airborne magnetics and radiometrics to define the potassic core zone; (2) Limited Induced Polarization; (3) Deeper drilling to below 500m.

This program is currently permitted. A new Notice of Work (NoW) has been filed in 2023 to expand the currently permitted program. The mineralized zones are open to the north.

A separate old road system 1.0km to the northwest will be investigated in 2024 for possible extensions of the mineralized zone. The mineralized zone is open to the south but may plunge to the south (under the Coast Plutonic Complex. Some future drilling is warranted along roads to the south after airborne geophysics is completed.