September 20, 2019 (Source) –
- Airborne Survey has begun on newly acquired Flin Flon North Claims
- Time domain electromagnetic (TDEM) and magnetometer surveys
- 10 km northwest the 777 Copper, Zinc and Gold mine in Flin Flon
- 10 km north of Searchlight’s flagship Bootleg Lake Gold Project
Searchlight Resources Inc. (“Searchlight” or the “Company”) (TSXV:SCLT) is pleased to announce that the Company has commenced an airborne geophysical survey on the newly acquired Flin Flon North claims located approximately 10 kilometres northwest of Creighton, Saskatchewan and the city of Flin Flon, Manitoba.
The survey is being conducted by Precision GeoSurveys Limited and includes airborne time-domain electromagnetic (TDEM) and magnetometer surveys. Approximately 550 line-kilometres will be flown at 75m line-spacing covering approximately 37 square kilometres, with the survey to be completed before the end of September.
Searchlight’s new “Flin Flon North” project comprises two mineral claims totaling 5,644.7 hectares. The claims are located approximately 10 kilometres northwest of Flin Flon Manitoba, an historical mining camp with over 90 years of continuous copper, zinc and gold production from multiple mines. Searchlight’s new claims are within 10 kilometres of four mines belonging to Hudbay Minerals, which combined, account for over 110 million tonnes of past production and current reserves and resources.
“Searchlight wanted to follow-up quickly on the Flin Flon North option given the highly prospective geology and multiple exploration targets just a few kilometres down the highway from Flin Flon and the 777 mine” stated Stephen Wallace, President and CEO of Searchlight. “The purpose of this survey and ongoing compilation is the development of high-quality base metal and gold drill targets for near term drilling.”
The Flin Flon North claims were optioned last month 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.
On August 8, 2019 Searchlight announced it would undertake a private placement offering of up to 10,000,000 shares. The private placement details are contained in the press release of August 8th, 2019. Link to press release https://searchlightresources.com/news/2019/searchlight-announces-private-placement-financing-2019-08-08/
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. is a Canadian mineral exploration and development company listed on the Toronto Venture Exchange (TSX-V: SCLT). The corporate strategy of the company is:
- to explore and develop opportunities in safe, low risk jurisdictions. The Company holds claims in Saskatchewan and Ontario, Canada. These are two of the top seven jurisdictions in the world for mining investment, as ranked by the Fraser Institute
- to target known highly productive geological belts, including the Flin Flon – Snow Lake Greenstone Belt and the Abitibi Greenstone Belt
- to acquire high quality projects, close to infrastructure, focusing on road access
- to work closely with stakeholders, including First Nations, Metis, local and provincial governments and local contractors to advance mineral exploration and development in a safe and environmentally sound manner.
Searchlight holds a portfolio of gold, cobalt, copper, vanadium and specialty metal projects from grassroots stage to advanced exploration and NI43-101 resource development.
On behalf of the Board of Directors,
SEARCHLIGHT RESOURCES INC.
Stephen Wallace, President, CEO and Director
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.