StraightUp Discovers Multiple Targets Upon Completion of 2021 Exploration Plan on Ferdinand Gold Project in Red Lake, Ontario

VANCOUVER, British Columbia, Nov. 29, 2021 (GLOBE NEWSWIRE) -- StraightUp Resources Inc. (CSE: ST) (OTCQB: STUPF) ("StraightUp" or the “Company”) is pleased to announce that its 2021 ground exploration and heli-bourne magnetic surveys on the Ferdinand Gold Project (the “Property”) are complete and that all available geologic data has been compiled by Orix Geosciences. Their structural interpretation confirms multiple areas of high merit and potential mineralization on the Property. The Company has the right to acquire 100% interest in the Property consisting of 17 contiguous mining claims covering 7,143 hectares located in the south Uchi greenstone belt, 120 km east of Red Lake, Ontario.

Commentary

StraightUp’s President and CEO Mark Brezer said, “We now have confirmation of D2 folding and ultramafic rocks, together considered to be a primary control for high-grade gold mineralization in this region, especially the Great Bear Resources Dixie Lake Gold Project. This study represents a transformation of the Ferdinand Gold Project, and we couldn’t be more excited about the road ahead in this unexplored and unappreciated section of the infamous Uchi subprovince.”

Heli-Bourne Magnetic Survey

Prospectair completed a high-resolution heli-borne magnetic (“MAG”) survey consisting of 2,985 line-km at 50-meter line spacings covering the entire property the last week of August 2021 (Figure 1).

Orix Geoscience has identified the project’s structural features, lithological contacts and rock types associated with potential gold and base metal mineralization (Figure 2).

Results of the Orix data compilation and reinterpretation study are as follows:

1. A vastly improved geological and structural map that has turned a “simple framework” into a concise stratigraphic and folded layering of various volcanic, ultra-mafic, clastic sediments and felsic intrusive lithologies.
2. D₁, in the ENE to NW tight, isoclinal folded (F₁) mafic intrusive, and mafic to intermediate volcanic units.
3. D₂, a north-south shortening recognized by sets of open to close-tight folds (F₂).
4. Major D₂ shear zones are approximately parallel to the F2 fold axial traces.
5. The possible continuation of “Fry-Bamaji Shear Zone,” or splay off, and several likely second order, or shear band ENE-striking structures, are the most predominant features within the property area.

OGS Lake Sediment Study, 2001