Searchlight Res - SCLTF STOCK NEWS

Searchlight Resources Inc. (TSXV:SCLT)(OTCQB:SCLTF) has secured TSX Venture Exchange approval to acquire a 25% interest plus a 1.0% NSR in the Bootleg Lake Gold property from New Moon Minerals Corp. The acquisition will be executed through the issuance of 6,000,000 common shares of Searchlight, which will be subject to a four-month hold period. The Bootleg Lake Gold property is strategically located in Saskatchewan, a top-ranked area for mining investment in Canada, and aligns with Searchlight's focus on battery minerals and gold exploration.

Searchlight Resources Inc. (TSXV:SCLT)(OTCQB:SCLTF) recently announced the acquisition of a 25% interest in the Bootleg Lake Gold property from New Moon Minerals Corp., approved by shareholders on March 16, 2023. This deal grants Searchlight 100% ownership of the Bootleg Lake property, located near Flin Flon, Manitoba. To complete the transaction, Searchlight will issue 6,000,000 common shares to New Moon, pending TSX acceptance. The Bootleg property includes multiple high-grade gold targets and benefits from established infrastructure. This acquisition simplifies ownership and supports further exploration in the promising Flin Flon Gold Camp.

Searchlight Resources Inc. (SCLTF) announced significant results from metallurgical tests on a monazite-bearing rock sample from the Kulyk Lake project. The sample contained 33.6% TREO and 7.3% CREO. Results indicate that the sample can be concentrated through various methods, achieving +60% TREO in the coarse fraction and 49.8-52.8% TREO in the fine fraction. A recovery rate of 98% for the coarse fraction and up to 89% for the fine fraction was achieved. These findings indicate the commercial viability of the Fanta Showing, prompting further exploration and drilling.

Searchlight Resources Inc. (TSXV:SCLT, OTCQB:SCLTF) announced the staking of seven pegmatite occurrences in Saskatchewan, expanding its portfolio in a region known for Lithium-Cesium-Tantalum (LCT) pegmatites. Five occurrences host Beryllium and Tourmaline, key pathfinder minerals. The staked areas include significant claims near known mineral fields, covering a total of 38,406 hectares. The company plans further exploration on these claims, aiming to capitalize on Saskatchewan's growing reputation as a hub for lithium exploration. CEO Stephen Wallace emphasized the strategic importance of these efforts in enhancing the company's footprint in critical minerals.

Searchlight Resources Inc. (TSXV:SCLT, OTCQB:SCLTF) announced results from Mobile Metal Ion (MMI) surveys at the Kulyk Lake Critical Elements project in Saskatchewan. The surveys identified both known and new zones of anomalous uranium and rare earth elements. A total of 242 MMI samples were collected over two grids. The company plans to expand MMI surveys, conduct follow-up prospecting, and perform geological mapping in 2023. CEO Stephen Wallace highlighted the discovery of new targets related to a pegmatite system around Kulyk Lake as a promising development for the project.

Searchlight Resources Inc. has announced its shares will begin trading on the OTCQB under the symbol SCLTF on February 10, 2023. This move is expected to enhance the company's visibility in the U.S. investment community, potentially boosting liquidity and attracting institutional and retail investors. The OTCQB platform is recognized for promoting high-quality trading experiences for investors, as companies must meet stringent financial reporting and verification standards. Searchlight is focused on mineral exploration, particularly battery minerals and gold, in Saskatchewan, Canada, which is deemed a prime mining investment location.

Searchlight Resources Inc. (SCLTF) announced a letter of intent to option 100% interest in the Jan Lake property and a 50% joint venture in the Hanson Lake property to Brunswick Exploration Inc. The claims, located near Creighton, Saskatchewan, cover 148.6 sq km and include historic samples with anomalous rare metals such as Lithium and Gallium. The option agreement involves a total of $2.35 million in cash and shares, along with a $1 million work commitment over four years and a 2% Net Smelter Royalty. Brunswick will lead exploration efforts on these properties.

Searchlight Resources Inc. has announced the staking of a new claim block covering 148.6 sq km of Jan Lake Pegmatites, located 60 km west of Creighton, Saskatchewan, and Flin Flon, Manitoba. This area includes critical elements like Beryllium, Rubidium, Gallium, Tantalum, Cesium, and Lithium, with previous regional work identifying various pegmatite units. The claims are 100% owned by Searchlight, with immediate infrastructure access via Highway 106. This addition is significant for the company's portfolio focused on high-value critical elements.

Searchlight Resources Inc. has entered an agreement to acquire a 25% interest and 1% NSR in the Bootleg Lake Gold property from New Moon Minerals Corp.. This acquisition will grant Searchlight 100% ownership of the property located in Saskatchewan, Canada, which spans 4,988 hectares and encompasses four past-producing gold mines. The company plans to issue 6,000,000 shares to New Moon, with the transaction subject to TSX approval. This strategic move aims to simplify ownership and accelerate exploration efforts in a key mining area.