Welcome to our dedicated page for Searchlight Res news (Ticker: SCLTF), a resource for investors and traders seeking the latest updates and insights on Searchlight Res stock.
Searchlight Resources Inc., an exploration stage company, acquires, explores for, and develops mineral properties in Canada. The company explores for copper, cobalt, gold, vanadium, and uranium deposits. Searchlight holds interests in multiple projects across Canada, including the Bootleg Lake Gold Project, Duddridge Lake Property, Cameron Cobalt Project, Flin Flon North Project, and English Bay Property. Founded in 2000 and based in Vancouver, Canada, Searchlight Resources Inc. is focused on mineral exploration and development in Saskatchewan, a top location for mining investment in Canada.
Searchlight Resources (TSXV: SCLT) (OTC: SCLTF) has staked two mineral claims spanning 37.3 sq km in Saskatchewan's Eastern Wollaston Domain, approximately 70 km northwest of McClean Lake Uranium Mine. The claims include the Bonnie Lake showings, located in a prime uranium exploration area.
Historical exploration from 1980 revealed significant uranium findings in the area, with 58 showings ranging from 1,000-28,000 cps of radioactivity. Assays showed values up to 0.183% U3O8 and 1.30% ThO2, with the highest radioactivity concentrated in a 150m by 100m area of pegmatite-intruded calc-silicate marble. The radioactive mineral was identified as uranothorite.
This acquisition complements Searchlight's uranium portfolio, which includes the Duddridge Lake Uranium Deposit and Kulyk Lake Uranium/Rare Earth project.
Searchlight Resources (TSXV: SCLT) (OTC: SCLTF) reports progress on the Basin and Milner uranium projects under option to Refined Energy Corp. Refined has completed initial cash and share payments and plans exploration for summer 2025.
The Basin Property, located near Highway 905 in northeastern Athabasca Basin, shows potential for uranium mineralization with historical radioactive anomalies. The Milner Property, situated 5km west of Missinipe, has shown significant uranium findings from previous sampling, including channel samples averaging 0.072% U3O8 and high-grade samples up to 1.39% U3O8.
Refined plans to employ various exploration methods including electromagnetic, magnetic, resistivity, radiometric, and gravity surveys to identify drilling targets. Searchlight maintains a 2% Net Smelter Royalty on these claims and will receive additional cash and share payments under the option agreement terms.
Searchlight Resources has announced initial results from an airborne radiometric survey of its Daly Lake Uranium and Rare Earth Element (REE) project in Saskatchewan. The survey, covering 57.5 square kilometres, revealed significant new thorium and uranium targets, including a large thorium zone measuring 800m x 450m. Notable findings include multiple REE occurrences with over 1% Total Rare Earth Elements, with samples showing up to 3.08% TREE.
The Daly Lake project, located 150 km north of La Ronge and 25 km south of the Company's Kulyk Lake project, extends multiple REE and uranium targets over a 12-km strike length. Together, the Kulyk Lake and Daly Lake claims cover 395.5 square kilometres and host over 40 REE, thorium, and uranium occurrences along a 30-km zone.
Searchlight Resources Inc. (TSXV: SCLT) (OTCQB: SCLTF) has initiated airborne surveys on the Bear Lake Rare Earth project in Northern Saskatchewan, Canada. The company has contracted Special Projects Inc. to conduct high-resolution aeromagnetic and radiometric surveys covering 21.8 sq km of REE claims. The survey area includes six historical REE showings, notably the Bear Lake showing with results of 19.94% TREO and 3.53% CREO.
The Bear Lake claims are strategically located within 30 km of the Hoidas Lake Rare Earth deposit and 25 km of the Appia Energy Alces Lake Rare Earth project. Searchlight's CEO, Stephen Wallace, expressed enthusiasm about the surveys' potential to advance the Bear Lake project and expand knowledge of its REE potential. The company is utilizing Special Projects' proprietary systems, which have previously been successful in discoveries at other Searchlight projects.
Searchlight Resources Inc. (TSXV: SCLT) (OTCQB: SCLTF) has entered into option agreements with Refined Energy Corp. for the Basin and Milner uranium properties in Saskatchewan's Athabasca Basin region. The agreements grant Refined Energy the right to acquire up to 100% interest in each property. For the Basin property, Refined must pay $75,000 cash, issue 175,000 shares, and commit to $200,000 in exploration work. For the Milner property, the terms are $45,000 cash, 100,000 shares, and $150,000 in exploration expenditures. Upon exercising either option, Searchlight will retain a 2% net smelter return royalty, of which 1% can be repurchased for CA$1,000,000. The agreements are subject to CSE acceptance, and issued securities will have a four-month hold period.
Searchlight Resources Inc. (TSXV: SCLT) (OTCQB: SCLTF) has reported promising results from Mobile Metal Ion (MMI) surveys at its Kulyk Lake Uranium and Rare Earth project in Saskatchewan. The surveys, conducted in October 2023, revealed significant uranium and rare earth element (REE) anomalies. Key findings include:
- An anomalous uranium zone up to 400 meters long at Whalesback Ridge
- New uranium anomalies at Hot Ridge
- A large REE anomalous zone at Whalesback Ridge, coincident with the uranium zone
- An REE anomalous zone at Hot Ridge
These results expand on previous surveys and reinforce Kulyk Lake's potential as both a uranium and REE prospect. Searchlight plans further exploration, including additional MMI sampling, airborne radiometric surveys, and a 1,500-meter diamond drill program for the Fanta REE and Eldorado Uranium targets.
Searchlight Resources has announced an exploration target for its Robinson Creek Gold Project, estimating between 77,000 and 154,000 ounces of gold.
This target is based on analyzing 70 historic drill holes from the 1940s and 1980s, revealing potential for 2 to 3 million tonnes of ore with gold grades between 1.20 g/t and 1.60 g/t.
The project, located near Creighton, Saskatchewan, demonstrated multiple high-grade gold intersections, bolstering its mining potential.
Searchlight plans further exploration to upgrade these estimates to a formal Mineral Resource.
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