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StraightUp Resources Inc. (CSE: ST) (OTCQB: STUPF) Strengthens its Commitment to the Red Lake Mining District Following Approval of its Exploration Permit for RLX
January 24, 2022

StraightUp Resources Inc. (CSE: ST) (OTCQB: STUPF) Strengthens its Commitment to the Red Lake Mining District Following Approval of its Exploration Permit for RLX

  • StraightUp received its early exploration permit that allows it to begin exploration activities on the eastern block of its RLX North property
  • The company will be taking a systematic approach to developing and testing gold targets as it plans to execute its 2022 work programs which will include drilling prospective targets in the summer
  • This approval strengthens StraightUp’s commitment to the Red Lake Mining District, having expressed the intention to acquire 100% undivided interest in the RLX property back in September 2021
  • StraightUp also announced the appointment of Jacqueline Collins as the company’s new Corporate Secretary

StraightUp Resources (CSE: ST) (OTCQB: STUPF) has, since its inception, remained committed to pushing the envelope with mineral exploration and the acquisition of mineral property assets in North and South America. Its flagship property, a 10,000-hectare tract of land located in the Red Lake District, has shown great promise in gold mining. Following extensive studies, surveys, and tests on the property, the company is expected to proceed within its 2022 work programs, including drilling the most prospective targets in the summer.

In September 2021, StraightUp completed a high-resolution heli-borne magnetic survey (“MAG”) on their optioned RLX property (https://ibn.fm/FqVjl). Fast forward to 2022, and the company has received its early exploration permit (“PR-21-000261”) from the Ministry of Northern Development and Mine, Natural Resources and Forestry (“NDMNF”) (https://ibn.fm/yFUES).

This permit allows StraightUp to proceed with mechanized drilling along with ground geophysical surveys that require a generator for a period of three years. The pass, however, only covers the eastern block of the RLX north property, a high-priority exploration target given that the majority of the historic and current production from the Red Lake district has been mined within proximity to this location.

When speaking on the permit approval, Mark Brezer, the President of StraightUp, noted:

“We are now in an excellent position to move forward and plan a drill program on both of these RLX properties for this year. The latest results, combined with our extensive data set from previous exploration, strengthen our commitment to the Red Lake Mining District and its potential for legendary, high-grade gold discoveries.” 

StraightUp will be relying on detailed data compilation that, so far, includes interpretation of the MAG survey conducted back in 2021, coupled with clear regional structural interpretation to pinpoint the highest priority targets for Orogenic gold occurrences. In addition, the company is taking on a systematic approach to developing and testing gold targets. It is confident that the investments so far will pay off throughout the 2022 calendar year, particularly in growing shareholder value.

The RLX North and South properties are located 25km southeast of the town of Red Lake. The property has been known for its diamond drill holes dating back to the early 1980s and over $1 million spent on drilling, line cutting, intellectual property, soil geochemical surveys, and geophysical surveying. 

StraightUp also announced the appointment of Jacqueline Collins as the company’s new Corporate Secretary effective January 4, 2022. Ms. Collins will lend over 30 years of experience as a legal administrator, paralegal, and corporate secretary, having worked at independent and national law firms and with public resource companies.

For more information, visit the company’s website at www.StraightUpResources.com.

NOTE TO INVESTORS: The latest news and updates relating to STUPF are available in the company’s newsroom at https://ibn.fm/STUPF

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