Business
Searchlight Completes and Files 43-101 Report on Kulyk Lake Rare Earths and Uranium Property
Vancouver, British Columbia--(Newsfile Corp. - August 24, 2023) - Searchlight Resources Inc.
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About this update from Searchlight Resources Inc.
[{"type":"text","content":"Searchlight Completes and Files 43-101 Report on Kulyk Lake Rare Earths and Uranium PropertyVancouver, British Columbia--(Newsfile Corp. - August 24, 2023) - Searchlight Resources Inc. (TSXV: SCLT) (OTCQB: SCLTF) (\"Searchlight\" or the \"Company\") is pleased to announce the completion and filing of a NI 43-101 Technical Report for its Kulyk Lake Rare Earths and Uranium project in Saskatchewan. The report presents a comprehensive analysis of historic and current exploration, and the project's overall potential. This will provide valuable information for shareholders, investors, and stakeholders, and can be accessed and downloaded at www.searchlightresources.com.This NI 43-101 Technical Report on the Kulyk Lake project has been prepared in accordance with the guidelines set out in the Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects. It demonstrates the company's adherence to best practices, and commitment to rigorous work and transparency, in the advancement of its exploration activities. \"We are excited to announce the completion of this comprehensive review of exploration in the Kulyk Lake region. We believe this property is a key target area for development of strategic critical metals including neodymium, praseodymium, dysprosium and uranium. We note that Northern Saskatchewan has been under-explored for the Rare Earths potential of pegmatites in the Wollaston domain, and with minimal work on the Rossing-style uranium potential. The report by Mr. Fiolleau sets out a solid case for further work on these concepts,\" stated Stephen Wallace, Searchlight CEO.Key highlights from the report include:A comprehensive summary of past exploration prior to Searchlight's work on Kulyk Lake Claims, including the 2009 high-grade rare-earth discovery by a previous company.A summary of exploration carried by Searchlight Resources from 2021 to 2023.Geological evaluation which enhances the understanding of the project's geology and validates the presence of different deposit types hosting the Rare Earths and Uranium mineralization. Notably, a hybrid deposit model is set out based on published academic studies on the Rare Earths mineralization. Also, a second style of uranium mineralization analogous to the Rossing Uranium Mine of Namibia, the fifth largest uranium mine ...