- Investors are taking disparate approaches to gold as unusual inflation pressures raise questions about economic safeguards but the U.S. government continues to tout fiat strength amid employment positivity
- StraightUp Resources enters 2022 with a tailwind driving enthusiasm about its gold prospects in Ontario’s famed greenstone belt and a historically metal-rich region in the western United States
- In China, jewelry markets are beginning to recover from the COVID-19 pandemic’s darkest days, reporting a 44.99 percent year-over-year jump in consumer purchases of gold jewelry largely responsible for driving up the larger gold market
- StraightUp recently announced approval of an early exploration permit for a portion of its RLX North property, heralding activity this summer on the adjacent RLX North and RLX South exploration sites
Gold investment has become a betting man’s game as highest-in-a-generation inflation prompts renewed interest in the precious metal as a safe haven while governmental interest rate-boosting policies deflate the momentum toward non-interest yielding gold (https://ibn.fm/i8llv).
While analysts generally expected that the COVID pandemic and world governments’ monetary stimulus response would induce inflation (https://ibn.fm/qbKaT), the U.S. Federal Reserve’s hawkish support of fiat currency by announcing proposed interest rate increases beginning in March has tempered interest in gold (https://ibn.fm/KOCZ6).
Among the potential wildcards to be pulled from the deck: Gold is more than just an asset — the nearly indestructible metal has diverse uses, including in jewelry and technology (https://ibn.fm/BMoaX). Gold jewelry consumption fell precipitously during the early stages of the COVID-19 pandemic, but a nascent emergence from COVID’s darkest hours includes the recovery of the jewelry market as exemplified in recent news about the jump in gold consumption in China, led by rising jewelry purchases at a rate of 44.99 percent YOY and a 26.87 percent increase in gold bar and coin consumption (https://ibn.fm/0VOI2).
Precious metals explorer and property asset class holder StraightUp Resources (CSE: ST) (OTCQB: STUPF) is bullish on the possibilities of its portfolio options and acquisitions in historically gold-and-silver rich regions.
The Canada-headquartered mineral explorer has spent the last year steadily increasing its data on five gold properties it has optioned in Canada’s well-known greenstone belt in Ontario, as well as a gold and silver mine it acquired in the western United States.
High-resolution heli-borne magnetic surveys (“MAGs”) and the subsequent ground investigation efforts at the Ontario Red Lake area properties have confirmed “multiple areas of high merit and potential mineralization” (https://ibn.fm/ByCxz) on one of the sites, known as the Ferdinand Gold Project, which consists of 17 contiguous mining claims covering 7,143 hectares (17,651 acres).
On Jan. 13, the company announced approval of an early exploration permit for a portion of its RLX North property within the greenstone belt. The permit for mechanized drilling in the property’s eastern sector will be valid for three years, allowing StraightUp Resources to move forward with its 2022 work programs, which is expected to include drilling of the most prospective targets this summer, the company stated (https://ibn.fm/Alx4L).
President Mark Brezer remarked that the company is in position to set up drill programs on both the RLX North property and the adjacent RLX South property, distinguished by changes in the underlying geology between each of them that are separated by two “metavolcanic packages” that StraightUp believes are highly prospective for economic deposits of gold.
“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,” Brezer stated. “Local expertise is continuing to prove itself invaluable to our exploration goals.”
StraightUp extended its investor reach in November by joining its Canadian Securities Exchange listing with a new listing on the OTCQB Venture Market in the United States.
“I expect our shareholders to benefit through increases in trading liquidity and expanded retail and institutional investors,” Brezer said at the time (https://ibn.fm/K7vaL).
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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