VANCOUVER, BC / ACCESSWIRE / September 27, 2021 / Searchlight Resources Inc. ("Searchlight" or the "Company") (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2) has completed initial field work and an airborne geophysics survey on the Robinson Creek Gold Project, located approximately 15 kilometres west of Creighton, Saskatchewan, in the historic Flin Flon mining camp.
- 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
During the 2021 summer field season, a geological team completed an initial visit to the Robinson Creek project area to sample and confirm the surface location of the Vein, Bleiler, and Quartz Zones. During the field examination, drill core from the 1980s drill programs was located. Many of the core boxes have deteriorated, but it is estimated that 30% to 50% of the core may be salvageable. The Company is evaluating the possibility of re-boxing this core for future evaluation.
Concurrent with the field work, Airborne Triaxial Magnetic Gradiometer and Lidar surveys were carried out over the entire Robinson Creek property and a section of the Bootleg Lake project covering the 4 past-producing gold mines. The results of the field work and airborne surveys are expected to be received in October. In addition, detailed compilation of the 70 drill holes at Robinson Creek is underway and will be used along with the geophysical data for drill planning on this project.
"We look forward to initiating a drilling program at Robinson Creek in the first quarter of 2022 to verify the high grade and extensive gold assays previously reported on this property. This is an accessible and strategic area for Searchlight", stated Stephen Wallace, Searchlight's CEO.
The Robinson Creek Gold Project consists of 7 claim blocks covering 1.84 square kilometres located approximately 15 kilometres northwest of Searchlight's Bootleg Lake claims (Map 1). The Robinson Creek target area lies within a structurally controlled mesothermal lode gold system, with considerable historical exploration which includes geologic mapping, trenching, soil surveys, airborne and ground geophysical surveys, and over 70 diamond drill holes. The Robinson Creek target comprises three gold zones - the Vein, Bleiler, and Quartz Zones - over a strike length of approximately 1 km.
Map 1: Location Map of Robinson Creek Claims
Stephen Wallace, P.Geo., is Searchlight's Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
About Searchlight Resources Inc.
Searchlight Resources Inc. (TSXV:SCLT, US:CNYCF, FSE:2CC2) 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 with road access.
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, less than 10 km from Flin Flon, Manitoba.
On behalf of the Board of Directors,
Stephen Wallace, President, CEO and Director
SEARCHLIGHT RESOURCES INC.
For further information, visit the Company's website at www.searchlightresources.com or contact:
Searchlight Resources Inc.
Alf Stewart, Chairman
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Searchlight Resources Inc.