Latest News Release
September 14, 2023
Searchlight Resources Inc. (TSX.V:SCLT; US:CNYCF) is a Canadian mineral exploration and development company focused on Saskatchewan, Canada, which has been ranked as the top location for mining investment in Canada by the Fraser Institute. Exploration focus is on gold, uranium and battery minerals throughout the Province. Searchlight holds over 1300 square kilometers of claims in Saskatchewan.
Searchlight Resources has 3 gold projects in its portfolio:
Flin Flon Regional
Searchlight’s thesis is that the Flin Flon greenstone belt hosts significant gold deposits that have never been mined. It was a premier gold district in the 1980s, but little has been done there in the last 30 years. Searchlight has focused on the gold deposits within 20 kilometers of Flin Flon, which can be developed into a consolidated mining operation.
Searchlight Resources has two uranium projects in its portfolio:
Kulyk Lake South
Searchlight's uranium properties are strategically located in Northern Saskatchewan, Canada’s premiere uranium mining district. Both properties are in the Wollaston Domain, the formation which forms the footwall of most of Saskatchewan’s unconformity-style uranium mines. It also hosts basement-style uranium veins such as the Eagle Point Deposit. The Wollaston Domain has been the subject of a recent uranium staking rush as the market realizes the potential for more basement-style uranium deposits.
Searchlight is well-positioned for a major discovery in the world’s richest uranium district.
KULYK LAKE NORTH RARE EARTHS TARGET
Kulyk Lake High-Grade Samples include:
56.18% TREO, including 12.49% CREO in historic grab sample including 9.61% Neodymium Oxide (Nd2O3), and 1,194 ppm Dysprosium Oxide (Dy2O3)
45.10% TREO, including 10.08% CREO in a historic 0.6m trench sample including 7.64% Neodymium Oxide (Nd2O3), and 1,114 ppm Dysprosium Oxide (Dy2O3)
Airborne Survey indicates extensive Thorium - REE Zone
Focus on Neodymium and Dysprosium which are critical elements for permanent magnets
Saskatchewan is developing Canada’s first Rare Earth Processing Facility at the Saskatchewan Research Council.