Business
Straightup Resources Acquires Ferdinand Gold Property in Ontario and Announces Appointment of New Director and Officer
Vancouver, British Columbia--(Newsfile Corp. - March 24, 2021) - Straightup Resources Inc. (CSE: ST) ("Straightup" or the "Company") is pleased to announce that
About this update from Battery X Metals Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - March 24, 2021) - Straightup Resources Inc. (CSE: ST) (\"Straightup\" or the \"Company\") is pleased to announce that it has acquired an option from Gravel Ridge Resources Ltd. and Perry English to acquire a 100% interest in certain unpatented mining claims consisting of 17 claims comprising 354 cells and encompassing 6,600 hectares, which are situated near Red Lake, Ontario (the \"Ferdinand Gold Property\"). In order to exercise the option, the Company is required to pay cash payments of C$148,000 over a term of four years, and issue an aggregate of 750,000 common shares at a deemed price of $0.15 per share. Upon exercise of the Option, the Company has agreed to grant to the optionors a 1.5% net smelter return (the \"NSR\"), which NSR shall be subject to the Company's right to repurchase 0.5% of the NSR for a payment of C$500,000. The Ferdinand Gold Property is 13 km northwest of the town of Slate Falls. Access is currently by logging roads with forestry logging operations scheduled for expansion into the property. It is located within the eastern extension of the Confederation-Uchi greenstone belt, one of the best metal endowed greenstone belts in the world. Crustal scale structural features such as the Fry-Bamaji deformation zone traverse the length of the property. Total magnetic intensity of the Ferdinand Gold Property display folded stratigraphy along D2 structures. These are important structural features that are important for gold-bearing hydrothermal fluids and traps. The Ferdinand Gold Property is situated within the prolific Uchi Subprovince, which is one of the most metal endowed greenstone belts in the world by square kilometer. In addition, the Company is pleased to announce the appointment of Mark Brezer to the Board of Directors and the appointment of Donna Moroney as Corporate Secretary. John Hiner has resigned as a director of the Company, effective March 22, 2021. The Board wishes to thank Mr. Hiner for his valuable contributions to the Company during his tenure with the Company. Mr. Mark Brezer is a successful businessman and holds a geography/geology degree from the University of Arizona. During his studies, emphasis was placed on remote sensing, GIS, glaciation and climate change. Mr. Brezer has worked as a Project Manager and has overseen quali...