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Searchlight Resources Receives Regulatory Acceptance of the Robinson Creek Gold Option Agreement
VANCOUVER, BC / ACCESSWIRE / June 1, 2021 / Searchlight Resources Inc. ("Searchlight" or the...
About this update from Searchlight Resources Inc.
[{"type":"text","content":"Searchlight Resources Receives Regulatory Acceptance of the Robinson Creek Gold Option AgreementVANCOUVER, BC / ACCESSWIRE / June 1, 2021 / Searchlight Resources Inc. (\"Searchlight\" or the \"Company\") (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2) is pleased to announce the TSX Venture Exchange has accepted the filing of the option agreement to acquire 100% interest in the Robinson Creek Gold Project located approximately 15 kilometres west of Creighton, Saskatchewan, in the historic Flin Flon mining camp.HighlightsOver 75 historical drill holesMultiple historical high grade gold intersectionsGold assays of 2.5 grams per tonne over 55 meters obtained in 1981 drilling by the Saskatchewan Mineral Development CorporationSearchlight paid $5,000 on the signing of the agreement and is now paying an additional $20,000 and issuing 500,000 common shares on the Exchange acceptance. The future obligations under the Option Agreement are set forth in Searchlight's news release dated May 17, 2021.The Robinson Creek Gold Project consists of 7 claim blocks covering 1.84 square kilometres located approximately 15 kilometres northwest of Searchlight's Bootleg Lake claims (Map 1). The Robinson Creek target area lies within a structurally controlled mesothermal lode gold system, with considerable historical exploration which includes geologic mapping, trenching, soil surveys, airborne and ground geophysical surveys, and over 75 diamond drill holes.\"Searchlight has begun detailed compilation of the historical Robinson Creek drilling and trenching, and is in the planning stage for an initial site visit. There are good quality drill logs for the majority of the past drilling, and a 3D drillhole model will be created to aid future drillhole planning to establish a 43-101 resource estimate\", stated Stephen Wallace, CEO of Searchlight.The Robinson Creek target comprises three gold zones - the Vein, Bleiler, and Quartz Zones - over a strike length of approximately one-kilometer. Exploration in the area began in 1915. In 1946, Hudson Bay Exploration drilled 15 holes in the Vein and Quartz zones. From 1970 to 1978, additional trenching of the quartz veins was completed, with trench samples returning gold assays ranging from 0.01 to 1.5 oz./ton.In the 1980s, Suneva and the Saskatchewan Mineral Development Corporation (\"SMDC\") joint venture completed over 60 dr...