- StraightUp Resources’ mission is to maximize shareholder wealth and value through mineral discoveries at projects with carefully analyzed potential, focused on the acquisition, development, and exploration of mineral resource properties in North America
- The company completed an IPO in March 2020 and has since acquired six properties in Canada and the United States (RLX NORTH, RLX SOUTH, BELANGER, FERDINAND, BEAR HEAD, WEST CAT MINE).
- Its Canadian properties are located in an area with a rich mining history and currently revealing a resurgence of gold-bearing deposits that were overlooked in the past
- Together with the recent acquisition of property in Nevada, StraightUp is positioning itself among companies of significant potential within this sector
StraightUp Resources (CSE: ST) is on a mission to maximize shareholder value and wealth through mineral discoveries at projects with robust potential, maintaining long-lasting partnerships, and continued focus on the acquisition, development, and exploration of mineral resource properties in North America. Since completing an initial public offering (“IPO”) in March last year and a non-brokered private placement a month later, the Sechelt, British Columbia-headquartered company embarked on a journey that has seen it acquire mining assets and conduct magnetic surveys and field examinations.
The first in the series of acquisitions was the June 11, 2020 announcement that it had been granted the exclusive right and option to acquire certain unpatented mining claims comprising RLX North, RLX South, and Belanger Red Lake gold properties (https://nnw.fm/8Yvzl). Upon receiving exploration permits for the properties shortly thereafter, the company repatriated, re-logged, and assayed – compiled and reinterpreted – all available historical data for the Belanger property and subsequently announced results in February this year (https://nnw.fm/etYkE). In addition, a 43-101 Technical Report was also completed on the Belanger Property in June of this year.
For its RLX North and RLX South assets (“RLX properties”), StraightUp Resources acquired a digital database of compilation and field exploration data for the properties in November 2020. The company then commenced the ground magnetic (“MAG”) survey in March this year and the Heli-borne MAG survey a few months later in July. With the latter MAG survey already complete, the company expects a final report early this month.
“These projects are in the heart of the Red Lake Mining District, an area that is seeing a resurgence of gold-bearing deposits that were overlooked in the past,” commented StraightUp President and CEO Mark Brezer, following the completion of the Heli-borne MAG survey (https://nnw.fm/KAJzn). “RLX North and South almost completely surround Great Bear Resources Sobel Project, and with our accumulated data from the region and upcoming MAG results, we can better pinpoint future drill programs.”
This year also witnessed the second addition to StraightUp’s growing asset portfolio, when, in March, it acquired the Ferdinand Gold Property in Ontario. The property, situated near Red Lake, consists of 17 claims comprising 354 cells and encompassing 6,600 hectares. According to the press release detailing the terms of the acquisition, the Ferdinand Gold Property is situated within the prolific Uchi Subprovince, one of the most metal endowed greenstone belts in the world by square kilometer (https://nnw.fm/8PJdg).
StraightUp, which in June initiated and received preliminary results on a high-resolution Heli-borne MAG survey on the Ferdinand Gold Property, has since started ground exploration. In describing this crucial milestone, Brezer noted that the exploration marks entry into an area that has been largely unexplored.
“The Ferdinand Gold Project is within a crucial scale deformation zone that has never seen a drill hole. Results from our recent Heli-borne MAG survey have identified high priority targets and important geological structures for crews to begin prospecting, sampling, and mapping,” Brezer continued (https://nnw.fm/6tJsB).
In July, StraightUp acquired the Bear Head Gold Property comprising 31 mining claims totaling 1,944 hectares in the Meen-Dempster Greenstone Belt, which hosts the Golden Patricia former gold mine that produced 620,000 ounces of gold at an average grade of 15.2 g/t from 1988-1997. According to Brezer, this acquisition complements the Ferdinand Gold Property.
Last month, the company acquired the historic West Cat Mine in Nevada, US, marking its expansion into new mining districts as it continues to position itself among top-quality assets and companies.
Through its focus on strategic acquisitions and exploration work, StraightUp Resources is making an indelible mark on the mining scene all the while maximizing shareholder wealth and value.
For more information, visit the company’s website at www.StraightUpResources.com.
NOTE TO INVESTORS: The latest news and updates relating to ST are available in the company’s newsroom at https://nnw.fm/STR
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