- StraightUp Resources Inc. (ST) receives exploration permit for the RLX North property
- The property is located within the Red Lake Greenstone Belt of Northwestern Ontario
- This permit is effective for a period of three years
- Red Lake district has been mined within a few hundred metres of this important geological contact, making it a high priority exploration target
- StraightUp is planning its 2022 work programs, which is expected to include drilling of the most prospective targets this summer
- StraightUp Resources Inc. (ST) is in the grey, trading at C$0.16 at 10:35 am EST
StraightUp Resources (ST) has received its early exploration permit for its RLX North property.
The permit was issued by the Ministry of Northern Development and Mine, Natural Resources and Forestry.
The property is located within the Red Lake Greenstone Belt of Northwestern Ontario.
The permitted activities are mechanized drilling and ground geophysical surveys requiring a generator. This permit is effective for a period of three years.
The area covered by the newly issued permit is the eastern block of the RLX north Property where the company has interpreted the location of the Balmer-Confederation unconformity and D2 structures.
The majority of the historic and current production from the Red Lake district has been mined within a few hundred metres of this important geological contact, making it a high-priority exploration target.
This interpretation is aided by the historic Selco drill hole 5-1 from 1980.
This drill hole intersected mafic/ultramafic volcanics with interbedded metasediments in the upper portion of the hole and felsic volcanics in the lower.
The drill logs report quartz veins with 3 per cent pyrite, 2 per cent pyrrhotite and local semi-massive pyrrhotite in metasediments however, no assays were reported.
Straightup is taking a systematic approach to developing and testing gold targets starting with detailed data compilation.
This includes interpretation of the high-resolution airborne geophysical surveys conducted in 2021, combined with detailed regional structural interpretation to pinpoint the highest priority targets for Orogenic gold occurrences.
StraightUp is planning its 2022 work programs, which is expected to include drilling of the most prospective targets this summer.
StraightUp’s President, Mark Brezer, said, “We are now in an excellent position to move forward and plan a drill program on both of these RLX properties for this year.”
“Local expertise is continuing to prove itself invaluable to our exploration goals and management extends further gratitude for everyone’s commitment and timely efforts,” added Brezer.
StraightUp is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada.
StraightUp Resources Inc. (ST) is in the grey, trading at C$0.16 at 10:35 am EST.
