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Searchlight Resources Inc.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  #408 – 1199 West Pender Street
Vancouver, B.C.
Canada V6E 2R1
Tel No.: 604-331-9326
Web Site: www.searchlightresources.com
E-mail: info@searchlightresources.com
Contact Person: Alf Stewart
Position: Chairman


Company Data

Traded Market: TSX-V / US / Frankfurt
Traded Symbol: SCLT / CNYCF / 2CC2
Outstanding Shares: 102.35 million
52 Week High: $ 0.11
52 Week Low: $ 0.055
Present Price: Click Here


Introduction

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Searchlight 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 and battery minerals throughout the province, concentrating on projects close to infrastructure.

Searchlight holds a 427.6-square-kilometre land position within the gold-and-base-metal-rich Flin Flon-Snow Lake greenstone belt. The Company is currently advancing its Bootleg Lake gold project, which hosts four past-producing high-grade gold mines, located in Saskatchewan close to the world class mining centre of Flin Flon.

Company Highlights

  • Focus on Saskatchewan, Canada – Exploration and Development in one of the best jurisdictions for mining investments in the world.
  • Major focus on High Grade Gold in known Saskatchewan gold camps, geology similar to Red Lake and Abitibi Gold camps in Ontario, but underexplored.
  • Experienced management, involved with discovery of multiple mines, collectively raised over $250 million and with decades of experience in junior exploration management.
  • Skilled exploration team continually evaluating low acquisition cost opportunities in Saskatchewan, including gold, copper, zinc, cobalt, vanadium, rare earths, technology elements targets.
  • Bootleg Lake targets an extensive gold system with 4 past producing gold mines and extensive underground workings.


Projects in Hand

Bootleg Lake Project, Saskatchewan, Canada (Au & VMS)

Searchlight has completed the required payments and work commitments to earn a 75-per-cent interest in the Bootleg Lake gold project, located near Creighton, Saskatchewan. (See news release dated September 9, 2021)

Project Overview

  • Excellent exploration infrastructure and access. Located less than 10 kilometers from the world class mining centre of Flin Flon.
  • Opportunity to consolidate multiple gold deposits in the Flin Flon area into one large gold project.
  • Located in the Flin Flon–Snow Lake Greenstone Belt, one of the most prolific minerals belts in the world.
  • The Property consists of 20 contiguous claims totalling 52 square kilometres, with the core claims in good standing until 2040.
  • The project area hosts four past-producing high-grade gold mines (Rio, Henning-Maloney, Newcor and Wekach Gold Mines); Rio, Henning-Maloney and Newcor Gold Mines with historical resource estimates.
  • Multiple additional gold and copper occurrences on the claims, including volcanogenic massive sulphide (VMS) targets.

The 2018 drill program focused on the Rio mine, drilling beneath the 1,500 metres of historic underground workings to confirm gold mineralization to a depth of approximately 200 metres. Significant results include the following:

  • 5.24 grams per tonne gold (g/t Au) over 4.0 metres, including 12.24 g/t Au over 0.50 metre in DDH BL-01;
  • 2.09 g/t Au over 19.0 metres in DDH BL-01;
  • 2.45 g/t Au over 5.0 metres in DDH BL-02.

The 2021 drill program focused on the Henning-Maloney mine, confirming gold mineralization to a depth of approximately 150 metres. A total of 11 gold intersections in the three diamond drill holes include the following:

  • 4.15 g/t Au over 0.95 metre in HM-21-01;
  • 1.16 g/t Au over 9.75 metres in HM-21-02;
  • 8.4 g/t Au over 0.7 metre in HM-21-02;
  • 31.59 g/t Au over 1.0 metre in HM-21-03.

"Searchlight has been encouraged by the exploration results to date, with drilling expanding the zones of known gold mineralization, including results at Henning-Maloney which indicate multiple vein structures starting close to the surface. Furthermore, geophysics suggests that three of the past-producing mines are part of the same 4-kilometre long structure", stated Stephen Wallace, CEO.

Saskatchewan Projects Overview

  • Bootleg Lake Gold Project
    • 4 Past Producing Gold Mines; 7 km south of Flin Flon
    • Advanced exploration stage
  • Robinson Creek Gold Project
    • Option agreement to acquire 100% interest in the new Robinson Creek Project, located 15 km from Bootleg Lake Project
    • Advanced exploration stage
  • Flin Flon North (Cu, Zn, Au) Project
    • Volcanogenic Massive Sulphide (VMS) drill target within 15 km of Flin Flon and 777 Mine
    • Drill ready stage
  • Reef Lake (Ni, Cu) Project
    • 27 drill holes including 0.66% Ni and 0.28% Cu over 9.8m
    • Advanced exploration stage
  • Wapawekka Lake (Cu, Au) Project
    • 347 sq. km of Wapawekka Lake Greenstone Belt covered by new government VTEM survey
    • Grassroots stage
  • Duddridge Lake (Co, Cu, V, U) Project
    • Janice Lake style target, Red Bed Copper, Cobalt, Vanadium
    • Advanced exploration stage
  • Kulyk Lake (Rare Earths) Project
    • World class results – greater than 50% REE oxides
    • Early stage exploration, field exploration is underway
  • Hanson Lake (Rare Earths) Project
    • Large system of Beryllium, Gallium, Rubidium, Cesium, Tin and Lithium mineralization
    • Grassroots stage


Management

Management and Directors

Stephen Wallace, P.Geo., President, CEO and Director

Mr. Wallace has 35 years experience in the Mineral Exploration and Development industry from field geologist to President, CEO and Corporate Director, employed with Junior through Major companies and government agencies. Mr. Wallace has been the director and executive of multiple public companies including the founding President and CEO of Castle Resources. He was VP Exploration of Trade Winds Ventures, advancing the Block A gold deposit to over 4 million ounces, which was subsequently bought by Detour Gold for $84 million and will become Detour Gold’s planned West Detour open pit mine in 2023.

Brian Crawford, CPA, CA, Chief Financial Officer

Mr. Crawford has over 30 years experience as a senior financial executive of private and public corporations. Mr. Crawford is currently the CFO, Corporate Secretary and a Director of several reporting issuers.

Alfred (Alf) Stewart, B.Sc. Geology, MBA, Chairman, Director, VP Corporate Development

Mr. Stewart has a career spanning over 40 years in the resource and investment industries. He has worked for such firms as Bank of Montreal, Esso Minerals, Erickson Gold Mining, Canaccord Capital, Haywood Securities, Golden Capital, and Raymond James. He has been involved in financing mining companies for over twenty-five years, including discoveries in the base and precious metals sectors.

Peter A. Ball, Independent Director

Mr. Ball has close to 30 years of experience as a mining professional at all levels of leadership.

John Kerr, P.Eng., Geologist, Independent Director

Mr. Kerr has participated in the mining industry continuously as an exploration geologist. He is currently a Director of Quaterra Resources, Eureka Resources and Bravada Gold Corp.

Peter Dueck, P.Geo., Independent Director

Mr. Dueck has been involved in the resource exploration industry since 2001, working with a variety of gold, copper, zinc and uranium companies.


News Update

On October 7, 2021, Searchlight Resources Inc. has released the results of outcrop samples collected during preliminary fieldwork visits to the Robinson Creek gold project in Saskatchewan. Searchlight samples up to 19.31 g/t Au at Robinson Creek gold target.

On September 27, 2021, Searchlight Resources Inc. announced that Searchlight has completed initial fieldwork and an airborne geophysics survey on the Robinson Creek gold project in Saskatchewan.

Highlights

  • Completed airborne magnetic and LIDAR surveys on Robinson Creek and Bootleg Lake projects;
  • Located surface showings of Vein, Bleiler and Quartz zones at Robinson Creek;
  • Located historical drill core at Robinson Creek.

On September 15, 2021, Searchlight Resources Inc. has confirmed that field exploration is underway on the Company's Kulyk Lake rare earth element (REE) project in Saskatchewan.

A geological team is presently on the Kulyk Lake REE property, prospecting, mapping and sampling to confirm and expand the 2009 and 2010 reported results. The Kulyk Lake claim block covers 105.4 sq km over a 35-km length, covering 21 REE showings including the Kulyk Lake target.

In addition to the ongoing field work, a contract has been signed with Special Projects Inc. of Calgary, Alberta, to conduct high resolution aeromagnetic and radiometric surveys covering approximately 39 sq. km of the claim area. This program is planned for the second half of September 2021.


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