What was found
(CAN) DURING REVENUE FLIGHT, CLIMBING OUT AT 5000 FT, A LOUD NOISE WAS HEARD ALONG WITH ITT AT RED LINE ON 1 OF THE ENGINES. AFTER A FEW SECONDS, THE POWER WAS REDUCED TO KEEP THE ITT IN NORMAL RANGE. THE FLIGHT WAS ABORTED AND THE ACFT RETURNED TO POINT OF ORIGIN. AFTER LANDING AND WHILE TAXIING IN, IT REMAINED AROUND 650 DEGREES, WAITING THE RESULTS OF ENGINE DOWNLOADS.