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Searchlight Resources Inc
Symbol SCLT
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Close 2022-12-06 C$ 0.06
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Searchlight Resources stakes Jan Lake pegmatites

2022-12-06 13:14 ET - News Release

Mr. Stephen Wallace reports

SEARCHLIGHT RESOURCES STAKES JAN LAKE PEGMATITES

Searchlight Resources Inc. has staked Jan Lake pegmatites located approximately 60 kilometres west of Creighton, Sask., and Flin Flon, Man.

Searchlight has staked a 148.6-square-kilometre claim block covering the Jan Lake aplogranite pegmatite sheets and other mapped rare element pegmatites located approximately 60 kilometres west of Creighton, Sask. These claims are 100 per cent owned by Searchlight, with no royalty obligation. Highway 106 crosses the new claims, providing Searchlight with immediate exploration infrastructure and access to the pegmatite targets. These claims are adjacent to, and north of, Searchlight's Hanson Lake rare metals claim block.

Previous work in the area was largely limited to regional mapping which identified multiple pegmatite units, but they were not sampled or chemically defined. In addition, a few academic papers and a single exploration program focused on rare metal pegmatites within one kilometre of Highway 106. Some of the pegmatites within the new claim block have been mapped as beryllium pegmatites, with anomalous beryllium, rubidium, gallium, tantalum, cesium and lithium.

"This newly staked area is a significant addition to Searchlight's portfolio of high-value critical element targets in Saskatchewan. The Jan Lake pegmatites had been on Searchlight's exploration radar for some time, and staked immediately when the area became open," stated Stephen Wallace, Searchlight's chief executive officer.

Qualified person

Mr. Wallace, PGeo, 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 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 battery minerals and gold throughout the province, concentrating on projects with nearby infrastructure.

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