- StraightUp has incorporated Bear Head Gold Project into its cache of properties, which already include RLX North & South Projects, Belanger Project, and the Ferdinand Gold Project
- The Meen-Dempster Greenstone Belt produced the Golden Patricia, a lucrative mine with rich drilling history
- Bear Head Gold Project historical drilling in 1989 yielded 11.09 g/t Au over 1.79m, 3.98 g/t Au over 2.3m, and 3.08 g/t Au over 2.5m, associated with iron formation and silicified mafic volcanos
- Acquisition of West Cat Mine in the state of Nevada and offers the company expansion opportunities into new areas of exploration
Canada-based mineral exploration and mining property acquisition company StraightUp Resources (CSE: ST) (OTCQB: STUPF) recently acquired the Bear Head Gold Project, comprising 31 mining claims that total 1,944 hectares, located within the Meen-Dempster Greenstone Belt in Western Ontario The belt has a rich drilling history and is famously known for the Golden Patricia, a former gold mine responsible for producing 620,000 ounces of gold, averaging a grade of 15.2 g/t Au, from 1988 to 1997 (https://ibn.fm/1JF90).
This project lies proximal to the Bear Head Deformation Zone (“BHDZ”) – a first-order crustal-scale regional fault system extending over 2km wide that extends over 400km from the Pickle Lake Gold Camp.
The Dorothy Main gold deposit, owned by Ardiden, is only 1km from StraightUp’s Bear Head Gold Project. The Dorothy Main gold deposit is known for its non-compliant historical resources of 46,600 ounces of gold at 6.17 g/t Au. Also, in Ardiden’s catalog of gold deposits is the Dobie Deposit. The Dobie Deposit is located 7m southeast of the Bear Head Gold Project. Dobie is known for non-compliant historical resources of 53,000 ounces of gold at 5.5 g/t Au.
In 1989, historical drilling on the Bear Head Gold Project produced 11.09 g/t Au over 1.79m, 3.98 g/t Au over 2.3m, and 3.08 g/t Au over 2.5m – associated with the iron formation and silicified mafic volcanos. The values above have not been followed up on since the initial drilling in 1989.
The Bear Head Gold Project joins a cache of other projects headed by StraightUp in one of Canada’s most fruitful gold mining districts – Red Lake Mining District (https://ibn.fm/oB0D7). This area is renowned for its high-grade gold deposits and is mining-friendly. The other projects StraightUp is working on include:
- RLX North & South Projects – Spanning over 10,000 hectares, RLX North and RLX South are positioned to the southeast of the largest gold deposit in the district (Red Lake Gold Mines – Evolution Mining)
- Belanger Project – Belanger is a 2,000-hectare property that has identified three significant surface exposures of gold, copper, and silver. Early exploration work will focus on the historical sampling of the area. The site also has excellent forest road access from the town of Ear Falls.
- Ferdinand Gold Project – Ferdinand consists of 17 contiguous mining claims that span approximately 7,143 hectares and is located 13km northwest of Slate Falls. According to Mark Brezer, CEO of StraightUp, the Bear Head Gold Project is complementary to the Ferdinand Gold Project.
Another recent acquisition includes the West Cat Mine located in Nevada, U.S. According to StraightUp President and CEO Mark Brezer, Nevada is the second-largest silver producer in the United States, after Alaska, and, in 2014, the state produced roughly 11 million troy ounces, with more than half of that quantity being a byproduct from gold mining. This property is a 20.66-acre land package in an area with high potential that will pave the way for StraightUp to successfully grow and expand into other mining districts and seize new exploration opportunities. “We are extremely excited to begin our expansion into new mining districts and continue to position ourselves among top-quality assets and companies,” Brezer added.
For more information, visit the company’s website at www.StraightUpResources.com.
NOTE TO INVESTORS: The latest news and updates relating to ST are available in the company’s newsroom at https://ibn.fm/STR
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