Straightup Announces Results from Field Examination of Belanger Property and Provides Update on RLX North and RLX South Properties
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STRAIGHTUP RESOURCES INC.
9285 203B Street
Langley, British Columbia V1M 2L9
December 2, 2020
STRAIGHTUP ANNOUNCES RESULTS FROM FIELD EXAMINATION OF
BELANGER PROPERTY, RED LAKE DISTRICT, ONTARIO
PROVIDES UPDATE ON RLX NORTH AND RLX SOUTH PROPERTIES
Vancouver, British Columbia: Straightup Resources Inc. ("Straightup" or
the "Company"; CSE: ST) is pleased to announce the results from its preliminary field
examination of the Belanger property (the "Belanger Property"), located in the Red Lake
District, Ontario. The Company has also completed the review and further sampling of
the historic diamond drill core from the Kings Bay Gold Corporation 2002 diamond drilling
program (the "Kings Bay 2002 Drill Program") that was stored at Government facilities in
Kenora and moved to a core facility in Thunder Bay, Ontario.
"We are extremely pleased with the progress being made on the Belanger Property given
the current global conditions," stated Matthew Coltura, President and CEO of Straightup.
"The results from the field examination of the Hemming Occurrence have confirmed the
presence of the Confederation Lake Narrows Deformation Zone. We plan to continue
work directed at defining the potential of this area."
Belanger Property Field Examination
Field crews conducted prospecting and mapping on the Belanger Property focusing on
previously underexplored areas of the Belanger Property hosting the historic "Hemming
Occurrences". The Hemming Occurrences are located within the northeast trending
Confederation Lake Narrows Deformation Zone , in the central part of the Belanger
Property. A property examination by the Red Lake Resident Geologist in 1997 suggested
the showings associated with the Hemming Occurrences are found within a 060° trending
shear zone that is potentially more than 100 m wide and extensively silicified.
In total, 27 grab samples were collected and submitted for analysis for gold and base
metals to AGAT Laboratories in Thunder Bay, Ontario. From the Hemming Occurrences,
24 samples were collected, of which 13 samples were below detection limit for gold
(Table 1). The highest assay, taken from a quartz/ankerite vein hosted within
intermediate volcanics, returned 1.93g/t Au and 1.1g/t Ag. Other notable assays returned
0.122g/t Au, 2.4g/t Ag and 1.6g/t Ag , respectively. A grab sample from the "Trench D"
area in the vicinity of the Kings Bay 2002 Drill Program returned 0.343g/t Au, 1.1g/t Ag,
and 0.454% Cu.
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Table 1: Highlighted grab samples from the Belanger Property Field Examination
Sample ID Northing Easting Au_ppm Ag_ppm As_ppm Cu_ppm Ni_ppm
E6094111 5653209 512325 0.039 <0.2 1 72.9 4.8
E6094112 5653208.9 512326 0.012 0.3 2 19.2 15.4
E6094114 5653210 512326 1.93 1.1 3 34.1 6.4
E6094115 5653210 512326 0.075 0.3 3 43 7
E6094120 5653262 512353 0.02 1.6 86 10 <0.5
E6094121 5653263 512355 0.122 2.4 55 51.1 4.7
E6094126 5656025 519100 0.035 2.9 2 3450 148
E6094127 5653459 512666 0.008 0.3 <1 85.8 69.2
E6094128 5653460 512665 0.008 <0.2 2 19.6 16.6
E6094129 5653459 512667 0.006 <0.2 <1 0.6 7.4
E6094131 5653461 512664 0.008 0.3 <1 66 88.4
E6094132 5651462 513350 0.004 <0.2 1 52.7 35.8
E6094133 5651472 513356 0.343 1.1 330 4540 382
The Belanger Property is fully permitted for early exploration activities such as stripping,
trenching, line cutting and drilling. Readers are cautioned that prospecting surface rock
sample assays, as presented herein, are selective by nature and represent a point
location, and therefore may not necessarily be fully representative of the mineralized
horizon sampled.
Diamond Drill Core Review
The Kings Bay 2002 Drill Program tested the Williamson Occurrences , which produced
the historic diamond drill core being re-analyzed by the Company at the Thunder Bay
core facility. In reviewing the diamond drill core Clark Exploration and Consulting ("Clark
Exploration") geologists noted that much of the core was under sampled, including areas
of deformation that were noted in a number of the drill holes from the Kings Bay 2002 Drill
Program. Re-logging and sampling have been completed by the Company and it is
awaiting analytical results.
Quality Assurance and Quality Control
All rock samples collected from the Belanger Property were sealed individually in the field
and delivered by Clark Exploration employees to AGAT Laboratories, located in Thunder
Bay, Ontario. Each sample was analyzed using the AGAT Laboratories codes 202051,
Fire Assay - AAS (30g); 201073, Aqua Regia Digest / ICP -OES Finish, and 201676
Lithium Borate Fusion XRF Finish. Being an early stage sampling program, the Company
relied on the AGAT Laboratories internal duplicate and standard protocols.
RLX North & South Properties
The Company continues to review and compile the data received from Tri Origin
Exploration Ltd . ("Tri Origin") for the RLX North and South properties (the "RLX
Properties"). This work has led to the recognition of extensions and repetitions of the
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important, go ld-hosting Upper Balmer Assemblage and the continuation of major
structural features across the RLX Properties. These structural features are t hought to
be important in localizing gold zones in the Red Lake Gold Mine and Great Bear
Resources Ltd. Dixie Hinge Zone. The data from Tri Origin will be used to help define
targets for future work programs on the RLX Properties which are expected to commence
in 2021.
Matthew Coltura stated, "We are excited to begin work on our RLX North and RLX South
properties, which surround Great Bear Resources' Sobel property, in the Spring of 2021.
Based on our historical data and the success of Great Bear Resources in the region, we
believe the RLX North and South properties have great exploration potential."
Readers are cautioned that the Company has no interest in or right to acquire any interest
in Great Bear Resources' properties or the Red Lake Gold Mines , and that mineral
deposits, and the results of any mining thereof, on adjacent or similar properties are not
indicative of mineral deposits on the Company's properties or any potential exploitation
thereof.
Qualified Person
Brent Clark, P. Geo. , a qualified person as defined by NI 43 -101, has reviewed the
scientific and technical information that forms the basis of th is news release and has
approved the disclosure herein. Mr. Clark is independent of the Company.
About Straightup Resources
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 exploration of its Red Lake Division
properties, Straightup intends to conduct exploration 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.
On Behalf of the Board of Directors
Matthew Coltura
Chief Executive Officer, President and Director
For further information, please contact:
Matthew Coltura
Chief Executive Officer, President and Director
(778) 886-6200
Forward-Looking Statements:
This news release includes certain forward -looking statements and forward -looking information
(collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation.
All statements, other than statements of historica l fact, included herein including, without limitation,
statements regarding the results from sampling of the historical drill core from the Kings Bay 2002 Drill
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Program, anticipated exploration activities and program results from exploration activities on the Belanger
Property and the RLX Properties, the discovery and delineation of mineral deposits/resources/reserves and
the anticipated business plans and timing of future activities of the Company, are forward -looking
statements. Although the Company believes that such statements are reasonable, it can give no assurance
that such expectations will prove to be correct. Often, but not always, forward looking information can be
identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including
negative variations thereof, and phrases that refer to certain actions, events or results that may, could,
would, might or will occur or be taken or achieved. Forward -looking statements are based on certain
assumptions regarding the Company including, without limitation , that market fundamentals will result in
sustained precious metals demand and prices, the receipt of any necessary permits, licenses and
regulatory approvals in connection with the future exploration a nd development of the Company’s projects
in a timely manner, the availability of financing on suitable terms for the exploration and development of the
Company's projects and the Company's ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to differ materially from any future
results, performance or achievements expressed or implied by the forward-looking statements. Such risks
and other factors include, among others, statements as to the anticipated business plans and timing of
future activities of the Company , including anticipated exploration work on the Belanger Property and the
RLX Properties, the fact that the Company’s interest in the Belanger Property and the RLX Properties is an
option only and there is no guarantee that such interest, if earned, will be certain, the timing and amount of
estimated future production, the costs of production, capital expenditures, the costs and timing of the
development of new deposits, requirements for additional capital, future prices of gold, changes in general
economic conditions, changes in the financial markets and in the demand and market price for commodities,
accidents, labour disputes and other risks of the mining industry, the ability of the Company to obtain
sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory
approvals (including of the Canadian Securities Exchange), permits or financing, risks relating to epidemics
or pandemics such as COVID–19, including the impact of COVID–19 on the Company's business, financial
condition and results of operations, changes in laws, reg ulations and policies affecting mining operations,
the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues
and liabilities, as well as other risks and uncertainties disclosed in the Company ’s latest Ma nagement’s
Discussion and Analysis and other filings of the Company with the Canadian Securities Authorities, copies
of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward -looking statements. The Company
undertakes no obligation to update any of the forward -looking statements in this presentation or
incorporated by reference herein, except as otherwise required by law.