Turning the Searchlight on high grade rare earths, gold and base metals projects in Saskatchewan
Searchlight Resources Inc. (TSXV: SCLT) is a project generator that focuses on finding well-defined projects in known mining belts in Saskatchewan, Nevada, and Ontario that are close to, or have existing infrastructure. This strategy allows for high value, year-round, low cost and low risk exploration and development; at the same time being continuously active seeking new ventures. Searchlight’s portfolio includes gold, cobalt, copper, nickel, uranium, vanadium, and rare earths projects.
Searchlight Resources 5 projects locations within North America
Searchlight has 5 main projects in North America with a focus on Saskatchewan, Canada.
- Bootleg Lake, Saskatchewan
- Saskatchewan Regional Projects (Duddridge)
- Munro Warden, Ontario
- Cameron, Ontario
- New York Canyon, Nevada
Searchlight Resources 5 projects summary
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Bootleg Lake region – Flin Flon North Project (North Saskatchewan)
Searchlight Resources has recently entered into an option agreement with a private Saskatchewan company, GEM Oil Inc., to earn a 100% interest in two claims located near Creighton, Saskatchewan. Known as the Flin Flon North project, it fits the Company’s targeted strategy of easy access, with access via nearby Highway 106 running through it. The new Project comprises two mineral claims totaling 5,644.7 hectares within a 90 year historical mining camp containing copper, zinc, and gold. Located near Creighton, Saskatchewan and just 10 kilometers northwest of the city of Flin Flon, Manitoba, the project claims are within 10 km of four mines belonging to Hudbay Minerals, that has accounted for over 110 million tonnes of past production. The Flin Flon Greenstone belt also lays claim to over 15 past and currently producing gold and base metal mines all within 25 kilometers of the new Flin Flon North Project.
Stephen Wallace, President, and CEO of Searchlight stated: “The Flin Flon North claims were optioned based on Searchlight’s ongoing regional compilation to target the most prospective areas in the Flin Flon Greenstone belt for new VMS base metal and gold mines.”
Kulyk Lake Rare Earth Project (Saskatchewan)
Searchlight Resources recently also announced the staking of a 592.8 hectare claim covering the high grade Kulyk Lake Rare Earth target in north central Saskatchewan. Historically the area had been explored for uranium, that was followed up by preliminary rare earth exploration when rare earth prices spiked in 2009 and 2010. Using the Company’s systematic evaluation of exploration targets in Saskatchewan, Searchlight acquired the project as past claims had expired.
A small number of channel samples were collected in 2009. This resulted in a grab sample of 56.18% Total Rare Earth Oxides, including 12.49% Critical Rare Earth Oxides. In addition, the claim block covers 7 additional rare earth, uranium and thorium showings and sample locations representing a high potential exploration target for Searchlight Resources.
Searchlight Resources Inc. is following a sound defined strategy in targeting high value, low cost projects, in safe and accessible jurisdictions in North America. If successful this strategy should pay off patient shareholders, especially given the current extremely low company valuation.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment (similar to CFA), and a Graduate Diploma in ... <Read more about Matthew Bohlsen>