StraightUp Resources Starts Ground Work Exploration on its Ferdinand Gold Project, Ontario
Vancouver, August 4, 2021 - Straightup Resources Inc. (CSE: ST) ("StraightUp" or the "Company") is pleased to announce that a field crew has begun ground work exploration on the Ferdinand Gold Project (the "Property") located in the Confederation-Uchi greenstone belt 120 km east of the Red Lake.
Figure 1. Regional location and access of the Ferdinand Gold Project.
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Commentary
StraightUp's President and CEO, Mr. Mark Brezer, said, "This is an exciting step into an area within the Confederation-Uchi greenstone belt that has been largely unexplored. The Ferdinand Gold Project is within a crustal scale deformation zone that has never seen a drill hole. Results from our recent Heli-bourne Magnetic survey have identified high priority targets and important geologic structures for crews to begin prospecting, sampling and mapping."
The Property
The Ferdinand Gold Property is 13 km northwest of the town of Slate Falls. Access is currently by logging roads with forestry logging operations scheduled for expansion into the property. It is located within the south-eastern extension of the Confederation-Uchi greenstone belt, one of the best metal endowed greenstone belts by square kilometre in the world with past production and current resources totaling 64M oz. of gold. Crustal scale structural features such as the Fry-Bamaji deformation zone traverse the length of the property (Figure 2). Regional, coarse, government-sponsored magnetic surveys of the Ferdinand Gold Property display folded stratigraphy along possibly D2 structures. These structural features are important for gold-bearing hydrothermal fluids and traps. There is not one Ontario Geological Survey registered drill hole on the entire property.
Figure 2. Regional geology and structure of the Ferdinand Gold Project.
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The Company has engaged Group Arventure to provide and manage a comprehensive digital media marketing campaign, creating a digital strategy and media buying and distribution for a fee of USD$100,000.
About StraightUp Resources
StraightUp is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic, precious and base metal properties of merit. StraightUp intends to conduct exploration on the RLX North, RLX South, Belanger and the Ferdinand Gold Property, all located in the Red Lake Mining Division as well as the recently acquired Bear Head Gold Project, located within the Meen-Dempster Greenstone Belt of the Uchi Subprovince, approximately 80km west of the Pickle Lake Gold Camp.
Mike Kilbourne, P.Geo., is an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
On Behalf of the Board of Directors
Mark Brezer Chief Executive Officer, President and Director
For further information, please contact:
Mark Brezer
Chief Executive Officer, President and Director
(604) 989-6275
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release).