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Searchlight Resources Inc. has successfully completed a private placement, issuing 9,373,334 units at $0.105 each, raising $984,200. Each unit includes a Critical Metals flow-through share and a purchase warrant, priced at $0.15 for additional common shares over two years. The funds will mainly support exploration at the Kulyk Lake property, known for its potential in battery minerals and gold. Commissions include $60,979 in cash and 774,333 broker warrants. All securities are under a four-month hold period.
Searchlight Resources Inc. (CNYCF) announced a private placement financing for up to 4,761,905 Critical Metals flow-through units priced at $0.105 per unit, aiming to raise $500,000.
Each unit includes a share and a warrant allowing the purchase of an additional share at $0.15 for two years. The funds will support exploration at the flagship Kulyk Lake property. The financing is subject to TSXV approval, with commissions expected at $37,500 and additional warrants for brokers.
Searchlight Resources Inc. (CNYCF) has announced the completion of its initial prospecting program at the Kulyk Lake Uranium project, located in Saskatchewan. The program confirmed anomalous results from a 2021 airborne survey, with scintillometer readings reaching up to 13,000 counts per second. A total of 49 grab samples were collected, revealing a radioactive surface showing of at least 150 m x 50 m in an area lacking previous documentation. The samples will undergo analysis at the Saskatchewan Research Council laboratory.
Searchlight Resources Inc. (OTC PINK:CNYCF) has appointed Dr. John Belhumeur as an Indigenous and Community Advisor. With over 30 years in Aboriginal affairs and a strong connection to Cree/Ojibwa culture, Dr. Belhumeur aims to facilitate respectful communication between First Nations and the mining industry. His experience ranges from environmental assessments to mine construction. Searchlight focuses on mineral exploration in Saskatchewan, emphasizing Rare Earth Elements, uranium, and gold across its extensive claims.
Searchlight Resources Inc. has initiated fieldwork on its Kulyk Lake Rare Earth Element (REE) project, following a permit granted by the Saskatchewan Ministry of the Environment. The focus is on prospecting and grid sampling in areas identified during a September 2021 radiometric survey, which marked new uranium and thorium zones. Historical data shows significant rare earth oxide values. The project covers 346.7 square kilometers and has no royalties, potentially enhancing its profitability for investors.
Searchlight Resources has completed digitizing historical drill holes at the Robinson Creek Gold project near Creighton, Saskatchewan. This project includes 70 historical drill holes, with significant findings: 60 holes intersected gold over 1 g/t Au, and 45 over 2 g/t Au. Notable intersections include 2.46 g/t Au over 57.60 m and 7.59 g/t Au over 10.94 m. The project spans 2.93 square km and outlines a gold mineralization zone of approximately 1,000 meters. A summer field program is planned to further explore this site.
Searchlight Resources Inc. has successfully closed the third tranche of a private placement, issuing 396,875 units at $0.08 each, yielding total proceeds of $31,750. Each unit comprises one common share and half a warrant, allowing the purchase of an additional share at $0.12 within two years. The funds raised will be utilized for exploration expenditures on mineral properties and general working capital. Searchlight focuses on gold, uranium, and battery minerals in Saskatchewan, a top mining investment location in Canada.
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