Gules, a pile barry wavy of ten argent and azure, charged with a warrior in tilting armour mounted on a sea-horse sable, trappings gules, and holding with the dexter hand a lance at the rest from which flies a pennant argent bearing a maple leaf gules.
(Glossary of Heraldic Terms)
The pile comes from the common symbol of the Bay class minesweepers, representing the bay of the name. The knight, appropriately riding a "sea horse" represents the resolute warrior, his pennon declaring Canada.
Resolute was a Bay class minesweeper. She was commissioned in September 1954, and wore pennant 154 until she was paid off in February 1964.
Red and white
Badges Of The Canadian Navy by Arbuckle, J. Graeme. Halifax: Nimbus Publishing, 1987.