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Searchlight Resources Defines New Rare Earth and Uranium Targets on Kulyk Lake Exploration Project
VANCOUVER, BC / ACCESSWIRE / October 25, 2021 / Searchlight Resources Inc. ("Searchlight" or...
About this update from Searchlight Resources Inc.
[{"type":"text","content":"Searchlight Resources Defines New Rare Earth and Uranium Targets on Kulyk Lake Exploration ProjectVANCOUVER, BC / ACCESSWIRE / October 25, 2021 / Searchlight Resources Inc. (\"Searchlight\" or the \"Company\") (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2) is pleased to announce the initial results of the high-resolution aeromagnetic and radiometric surveys on the Company's Kulyk Lake Rare Earth Element (\"REE\") project, located approximately 165 km north of La Ronge, Saskatchewan, and 65 km south of the Key Lake Uranium Mine.HighlightsRadiometric thorium data highlight Kulyk Lake high-grade Rare Earth Element showingUsing thorium as REE pathfinder, a 3-km long REE exploration target is outlinedSignificant, previously unknown uranium target is outlined with radiometric dataIn September 2021, Special Projects Inc. of Calgary, Alberta, completed high-resolution aeromagnetic and radiometric surveys covering approximately 39 sq km of the Kulyk Lake claims (Map 1). Preliminary radiometric results have outlined significant new thorium and uranium targets, in addition to several historical REE, uranium and thorium showings.Searchlight uses thorium as a pathfinder for rare earth elements in the mineral monazite, which is the principal mineral in the known Kulyk Lake REE showing (Map 2). The highest thorium value from the radiometric survey (5.3 ppm) was located over the known Kulyk Lake REE trenches which yielded historical assays of 56.18% Total Rare Earth Oxides (\"TREO\"). Additionally, the radiometric survey identified the Kulyk Lake target as part of a larger anomalous thorium zone, at least 3 kilometres in length (Maps 2 and 4).\"These are excellent results from the radiometric survey, highlighting the known Kulyk Lake trench area, and tying it to a significant multi-kilometer thorium anomaly\", stated Stephen Wallace, CEO. \"The results suggest a potentially large Rare Earth exploration target area\".Uranium results from the radiometric survey were equally positive, identifying a significant new, previously unknown uranium target (Maps 3 and 5), as well as pinpointing known uranium showings, including the Eldorado showing with historical assays of 0.785 % U3O8. The newly identified anomalous uranium zone has multiple high values, ranging up to 5.74 ppm, the highest uranium value of this survey (Maps 3 and 5).\"The uranium results are str...