- Mineral property exploration company StraightUp Resources has pursued greater scale of its acquisitions and holdings in recent months, including properties in Canada, the United States, and Peru
- StraightUp announced recently that it has upgraded its listing in the United States to the OTCQB Venture Market under the symbol STUPF to gain access to a larger investor base
- StraightUp continues to be listed on the Canadian Securities Exchange under the symbol ST as well
- The company’s flagship operations are in Ontario, where it has obtained options in several properties within the prolific Red Lake Mining Division’s greenstone belt
StraightUp Resources (CSE: ST) (OTCQB: STUPF), a company focused on acquiring select mining properties and a global scale of exploring for minerals, is expanding its access to investors by uplisting to the OTCQB Venture Market in the United States under the symbol STUPF.
StraightUp has expanded its resources in recent months, bringing its precious metals asset portfolio to a level that includes options for the RLX North, RLX South, Belanger Red Lake, Bear Head and the Ferdinand gold properties in Ontario, Canada’s well-known greenstone belt, acquisition of the West Cat gold and silver mine in Nevada, United States, and the potential acquisition of the Mallay silver mine and processing plant in the Lima region, Peru during the next 60 days through a right of exclusivity agreement (“ROE”) for all outstanding shares in Premier Silver Corp.
The OTCQB listing joins StraightUp’s trading on the Canadian Securities Exchange under the symbol ST.
“Upgrading to the OTCQB provides a greater reach in today’s marketplace, one that transcends borders and is truly global,” StraightUp President and CEO Mark Brezer stated (https://ibn.fm/nd0bL). “The new listing gives StraightUp improved access to millions of U.S. investors during our next phase of growth and, ultimately, connects us with a much larger audience. I expect our shareholders to benefit through increases in trading liquidity and expanded retail and institutional investors.”
StraightUp’s exploration of its resources in Canada has given it a strong position within a region recognized as one of Canada’s most fruitful gold mining districts. The Red Lake district has a history of producing over 30 million ounces of gold, and the RLX projects are located close to the Red Lake Mine complex that has estimated reserves of 3.23 million ounces as of a 2019 report (https://ibn.fm/zDOOA).
Drilling on the Bear Head Gold Project recorded shallow values of 11.09 g/t of gold over 1.79 meters and 3.98 g/t of gold over 2.3 meters, lying 1 kilometer from the Dorothy Main gold deposit that holds non-compliant historical resources of 46,600 ounces of gold at 6.17 g/t and 14 kilometers from the Golden Patricia former gold mine that produced 620,000 ounces of gold at an average grade of 15.2 g/t from 1988-1997 (https://ibn.fm/do6NG).
The company has completed high-resolution heli-borne magnetic surveys (“MAGs”) on some of the Canadian properties in preparation for drill programs there. The Nevada acquisition includes an unpatented lode mining claim on a 20.66-acre land package within a zone that produced about 2.3 million ounces of gold and more than 3 million ounces of silver during the 1990s.
The most recent agreement regarding negotiations for the Peru property would potentially grant StraightUp access to primarily silver projects including one of the largest silver mining land packages in Peru with over $120 million in capitalized expenditures currently in care and maintenance mode, according to a news release about the discussions (https://ibn.fm/u6v3D).
Premier plans to provide processing services to other mining operations in the region, which would further increase its revenue potential.
“Taking a stake in a country that contains more silver resources than any other country and is ranked second in the world for production gives us a shot at tremendous upside potential, especially if we see a strong decade ahead for metals,” Brezer stated. “We are optimistic our companies can synchronize to mutually benefit one another and shareholders alike.”
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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