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Straightup Resources Inc
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Close 2020-07-27 C$ 0.21
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Straightup completes Belanger field visit

2020-07-27 10:28 ET - News Release

Mr. Matthew Coltura reports

Straightup Resources Inc. has completed an initial field examination of its Belanger property, a part of its Red Lake gold project. Timothy Twomey, PGeo, an expert on the Red Lake district geology and gold deposits, was directed to confirm historical surface showings, rank their significance and propose a follow-up program to begin evaluation of the Belanger property. Mr. Twomey reports the following observations: "The showings, referred to as the Williamson occurrences, were trenched in the 1990s. These occurrences, named trenches C, D and E, were examined, sampled and structural measurements taken. Alteration observed in the deformed rocks was variable; being composed of chlorite [plus or minus] magnetite in the mafic rocks and silicification with minor iron carbonate, depending on the rock type."

Mr. Twomey took various grab and chip samples from each of the three showings for a total of 22 samples. Mineralization occurs as disseminated pyrite and chalcopyrite in sheared mafic volcanics, felsic dikes and metasediments as well as within deformed quartz veins. These are presently being assayed for gold and results are expected in three to four weeks.

He recommends that further work be conducted, including:

  1. Compile, digitize and interpret all historical data on the property;
  2. Secure, relog and reassay Kings Bay Gold drill core, including drill holes No. 1 and No. 3 under trench E and drill holes No. 10 and No. 14 under trench D, and assay the entire core from all four drill holes;
  3. Conduct a detailed geological mapping and sampling program (including geology, structure, alteration, mineralization and geochemistry); this work should include locating where the interpreted Confederation Lake Narrows deformation zone (CLNDZ) passes through the property, focusing on the structural setting of the property to get an indication of the potential for further mineralization and size of exploration targets, with the intent to drill test them by winter 2021.

Matthew Coltura, president and chief executive officer, commented: "We are pleased with the results of Mr. Twomey's visit in that his observations mirror the historical comments regarding geology and alteration of prior operators and the excellent potential for additional gold discoveries on the Belanger property. We will report the analyses when received from the laboratory."

Qualified person

John E. Hiner, licensed geologist, a registered member of SME (Society for Mining, Metallurgy and Exploration) and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis of this news release and has approved the disclosure herein. Mr. Hiner is not independent of the company as he is a director of the company and holds stock options in the company.

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. In addition to the Red Lake Division properties, Straightup intends to conduct on the Hi-Mars property. The Hi-Mars property consists of 11 contiguous mineral titles covering an area of 1,788 hectares located approximately 17 kilometres northeast of the city of Powell River in the southwest British Columbia, Canada, within the Vancouver mining division.

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