C.STLate news.
Straightup begins exploration program at Ferdinand
2021-08-04 12:12 ET - News Release
Mr. Mark Brezer reports
STRAIGHTUP RESOURCES STARTS GROUND WORK EXPLORATION ON ITS FERDINAND GOLD PROJECT, ONTARIO
Straightup Resources Inc.'s field crew has begun ground work exploration on the Ferdinand gold project located in the Confederation-Uchi greenstone belt 120 kilometres east of the Red Lake.
Commentary
StraightUp's president and chief executive officer, 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 southeastern 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 64 million ounces of gold. Crustal-scale structural features such as the Fry-Bamaji deformation zone traverse the length of the property. 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.
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About Straightup Resources Inc.
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 80 km west of the Pickle Lake gold camp.
Mike Kilbourne, PGeo, 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.