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StraightUp Resources Inc. (CSE: ST) Gold Exploration Expansion Rides Wave of Inflationary Concerns

  • Market analysts and investors are preparing for inflation to reach high levels as a result of COVID-19 pressures, although key financial policy managers expect inflation pressures to be temporary
  • Analysts are also observing the 50th anniversary of the end of the gold standard in the United States with reports that offer mixed views on gold’s ability to hedge against inflation in the short term, but its proven success for long-term prospects
  • Amid the uncertainty in preparing for the coming years’ economic trends, mineral property acquisition company StraightUp Resources is building asset classes such as gold in high-value regions 
  • The company has acquired options to four sites in the well-known greenstone belt surrounding Ontario’s Red Lake Mining District and in Nevada’s famed Bullfrog boom zone

Fifty years after President Richard Nixon ended the U.S. dollar’s convertibility into gold, financial analysts have been weighing in on the gold standard’s end and the results of using gold as a hedge against inflation during the years since (https://ibn.fm/TAT6w). In the wake of briefly devastating economic conditions resulting from the COVID-19 pandemic, many investors have been concerned about the prospect of ‘high’ inflation arising now from tight supply lines and massive government debt on a global scale, according to varied news reports including a recent Reuters overview (https://ibn.fm/j80xD). 

A quick Google search shows analysts are largely in agreement that gold and changes in the U.S. consumer price index (“CPI”) have not followed a linearly parallel path during the past five decades, suggesting that gold has not been the ultimate short-term fix for inflationary worries in the past. Still, as Reuters notes, “gold is a proven long-term hedge against inflation” and also “can help investors protect against potentially excessive asset price inflation and currency debasement.” 

Canada-based mineral exploration and mining property acquisition company StraightUp Resources (CSE: ST) is building for the future with a series of acquisitions in historically proven gold districts, starting with options for the RLX North, RLX South, and Belanger Red Lake gold properties in Ontario obtained last year (https://ibn.fm/5tt5u).

StraightUp followed up on those acquisitions with the Ferdinand Gold Property this year, marking a linear extension eastward from the other Ontario properties, and then the acquisition of the West Cat Mine across the continent in the state of Nevada last month (https://ibn.fm/uWhWY).

The Ontario properties are located in the Canadian province’s west-side Red Lake Mining District, which has shown a store of silver and copper assets in addition to its historic gold production. Among the four sites, Ferdinand stands out in the sense that a lack of access has largely prevented previous exploration on the property despite its position within a well-known greenstone belt that has attracted other mine operations nearby. 

There isn’t a single registered drill hole on the property despite its situation as an extension of the prolific Uchi Subprovince, one of the most metal endowed greenstone belts in the world by square kilometer, according to StraightUp (https://ibn.fm/Iddxs).

The company has completed a high-resolution heli-borne magnetic survey (“MAG”) on the Ferdinand property and has now received a final report on the survey. Orix Geoscience will interpret the final report during the coming weeks.

StraightUp has also completed MAG surveys on RLX North and RLX South, which at about 10,000 hectares (25,000 acres) are the company’s largest area of operation currently. Ground exploration has begun and StraightUp will use the MAG surveys to help pinpoint future drill programs, President and CEO Mark Brezer has indicated.  

The Nevada property is a 20.66-acre land package in a high-potential area that has drawn other explorers’ interest as well. 

“(Nevada is) the second-largest (silver) producer in the United States, after Alaska, and, in 2014, Nevada produced roughly 11 million troy ounces — more than half of which came as a byproduct from gold mining,” Brezer noted in the West Cat Mine announcement. “We are extremely excited to begin our expansion into new mining districts and continue to position ourselves among top-quality assets and companies.”

In addition, StraightUp recently acquired the Bear Head Gold Property in western Ontario, comprising 31 mining claims totaling 1,944 hectares in the Meen-Dempster Greenstone Belt, which hosts 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. According to Brezer, this acquisition complements the Ferdinand Gold Property.  The Bear Head Gold Project lies proximal to the Bear Head Deformation Zone (“BHDZ”), a 1st order crustal scale regional fault system over 2km wide that extends over 400km from the Pickle Lake Gold Camp, northeast through Ontario and into Manitoba.

For more information, visit the company’s website at www.StraightUpResources.com.

NOTE TO INVESTORS: The latest news and updates relating to ST are available in the company’s newsroom at https://ibn.fm/STR 

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