- Mineral property exploration company StraightUp Resources is in an expansive stage, adding significant site acquisition rights in the United States and Peru to its Canadian portfolio and expanding its stock trading from Canada to the United States markets
- StraightUp recently announced that it is improving access to its U.S. stock on the OTCQB Venture Market by achieving eligibility for electronic clearing and settlement of its transactions through the Depository Trust Company
- StraightUp holds rights to five properties in Ontario’s prolific Red Lake greenstone belt, has acquired a mining property and its resources in western Nevada, and has an option to acquire a significant mining opportunity in Peru
- The company recently completed structural interpretation of investigations at one of the Ontario sites, confirming multiple areas of high merit and potential mineralization on a greenstone belt property that has not previously experienced a single drill hole
Precious metals explorer StraightUp Resources (CSE: ST) (OTCQB: STUPF) has cleared a hurdle that elevates its ability to trade shares of its common stock in the United States, announcing Dec. 1 that the company has achieved eligibility for electronic clearing and settlement of its transactions through the Depository Trust Company (“DTC”).
DTC eligibility “reduces costs and accelerates the settlement process for investors and brokers, allowing the Company’s common shares to be traded over a much wider selection of brokerage firms,” a company news release states (https://ibn.fm/jATkt).
“I expect our shareholders to benefit from the liquidity and ease at which shares can now be electronically transferred between U.S. brokerages, at a lower cost and greater efficiency,” StraightUp President and CEO Mark Brezer stated.
StraightUp completed an uplisting to the OTCQB Venture Market under the symbol STUPF last month, joining U.S. market coverage to its Canadian Securities Exchange listing under the symbol ST (https://ibn.fm/kEEcG).
The company has expanded its access to potential assets this year, building a portfolio that includes options for five anticipated gold properties in Ontario, Canada’s well-known greenstone belt, acquisition of an existing gold and silver mine in the western United States, and an opportunity to acquire a silver mine and processing plant in the Lima region of Peru.
Most of the company’s development work thus far has centered on the properties in eastern Canada. The Red Lake district where the RLX North, RLX South, Belanger Red Lake, Bear Head and Ferdinand gold properties are centered is part of a region considered one of Canada’s most prolific gold mining districts, with a history of producing over 30 million ounces of the precious metal.
The company has completed high-resolution heli-borne magnetic surveys (“MAGs”) on some of the properties in preparation for drill programs there, and reported Nov. 29 that structural interpretation of the airborne survey and subsequent ground investigation on the Ferdinand Gold Project yielded confirmation of multiple areas of high merit and potential mineralization on the 7,143-hectare (17,651-acre) site (https://ibn.fm/c31p9).
Ferdinand is noteworthy in the sense that, unlike the other four Ontario properties, it has not had a single registered drill hole despite its location at a boundary of the productive Uchi Subprovince, one of the most metal-rich greenstone belts in the world by square kilometer, according to StraightUp (https://ibn.fm/NwGRF).
“We now have confirmation of D2 folding and ultramafic rocks, together considered to be a primary control for high-grade gold mineralization in this region, especially the Great Bear Resources Dixie Lake Gold Project,” Brezer stated. “This study represents a transformation of the Ferdinand Gold Project, and we couldn’t be more excited about the road ahead in this unexplored and unappreciated section of the infamous Uchi subprovince.”
StraightUp has the right to acquire 100 percent interest in the property’s 17 contiguous mining claims located 120 km (74.5 miles) east of Red Lake, Ontario.
Orix Geosciences compiled the data on the site investigation. StraightUp is also working to complete airborne and ground investigation of the RLX North and RLX South sites, which are the company’s largest properties at about 10,000 hectares (25,000 acres).
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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