Business
Searchlight Resources Options Flin Flon North Claims
VANCOUVER, BC / ACCESSWIRE / August 7, 2019 / Searchlight Resources Inc. ( ...
About this update from Searchlight Resources Inc.
[{"type":"text","content":"Searchlight Resources Options Flin Flon North ClaimsVANCOUVER, BC / ACCESSWIRE / August 7, 2019 / Searchlight Resources Inc. (“Searchlight” or the “Company”) (TSXV:SCLT) is pleased to announce that the TSX Venture Exchange (the \"Exchange\") has accepted the option agreement (the \"Option\") with GEM Oil Inc. a private Saskatchewan company, to earn a 100% interest in two claims (the “Property” or the “Claims”) located near Creighton, Saskatchewan and 10 kilometres northwest of the city of Flin Flon, Manitoba. Searchlight’s new “Flin Flon North” project comprises two mineral claims totaling 5,644.7 hectares. They are located approximately 10 kilometres northwest of Flon 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 km of four mines belonging to Hudbay Minerals, which combined, account for over 110 million tonnes of past production and current reserves and resources“The Flin Flon North claims were optioned 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” stated Stephen Wallace, President and CEO of Searchlight. “In addition, the claims fit the company’s strategy of easy access, with Highway 106 running through the new project.”The new option is located in the Flin Flon - Snow Lake greenstone belt, one of the most prolific mining belts in the world, with more than 15 past and currently producing gold and base metal mines within 25 kilometres of the Flin Flon North project. This includes the past producing Newcor, Rio and Henning Maloney gold mines, located on the Company’s flag ship Bootleg Lake Gold project (Figure 1).Figure 1. Geology of Flin Flon North and Bootleg Lake ClaimsRecently, the Saskatchewan government completed a regional compilation of fixed-wing and helicopter-borne magnetic surveys in the Creighton - Flin Flon area, a new resource for exploration throughout the Flin Flon greenstone belt (Figure 2). One survey, the compilation of VTEM and Magnetics geophysics surveys completed by Geotech in 2009 for Callinan Mines Ltd, outlines a total of 18 targets within ...