- StraightUp Resources has optioned or acquired several properties in the historic Red Lake District in Ontario, which has produced over 30 million ounces of gold to date
- The company’s properties in the area include RLX North, RLX South, Belanger, and Ferdinand properties
- Late last year, a senior gold mining company entered into an agreement to acquire Great Bear Resources, one of the success stories of the Red Lake District
- This acquisition, coupled with results from own surveys and the district’s storied history, support StraightUp’s focus in the area
When StraightUp Resources (CSE: ST) (OTCQB: STUPF) optioned mining claims comprising the RLX North, RLX South, and Belanger properties located in the prolific Red Lake District in Ontario, Canada’s Uchi subprovince in 2020, the company expressed optimism at being able to further survey the area and potentially uncover profitable mineralization (https://ibn.fm/V2rf6). In 2021, StraightUp acquired the Ferdinand Gold Property (https://ibn.fm/avBYJ), also located in the Red Lake District, bringing the total of its optioned properties in the area to just under 20,000 hectares.
The historic Red Lake District is renowned for having some of the richest gold deposits in the world. According to a report by the Geological Survey of Canada, the Red Lake greenstone belt on which part of the Red Lake mining district sits, had historically produced over…
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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