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Searchlight Resources Reports MMI Results from Duddridge Lake Uranium Project
Surveys highlight strike extension of Duddridge Uranium Deposit 539 Mobile Metal Ion samples o...
About this update from Searchlight Resources Inc.
[{"type":"text","content":"Searchlight Resources Reports MMI Results from Duddridge Lake Uranium ProjectSurveys highlight strike extension of Duddridge Uranium Deposit539 Mobile Metal Ion samples on 2 grids north and south of depositVancouver, British Columbia--(Newsfile Corp. - March 3, 2024) - Searchlight Resources Inc. (TSXV: SCLT) (OTCQB: SCLTF) (\"Searchlight\" or the \"Company\") is pleased to report results of the Mobile Metal Ion (MMI) survey on the Duddridge Lake Uranium project located approximately 75 kilometers northwest of La Ronge, Saskatchewan.In October 2023, Searchlight conducted MMI surveys on two grids located along strike, and to the north and south of the known Duddridge Lake Uranium Deposit (Maps 1, 2). Elevated MMI results for Uranium and Copper extend along strike on both north and south grids, and also expand eastward. In the north, the results show a potential second target 300 m to the east of the deposit strike line. MMI results also correspond closely with areas of high airborne magnetic intensity, providing essential information for drill hole planning (Maps 1, 2). \"The Duddridge Lake Uranium Deposit is a prime uranium exploration target with a historical 43-101 resource, located close to surface, and easily accessible by road and trail. The MMI results will greatly assist the planned 2,200 to 2,500 metre diamond drill program along strike, and to test the known deposit at depth,\" stated Stephen Wallace, Searchlight's CEO. The Duddridge Lake project is accessible by an all-season gravel road (Highway 910) to within 12 km of the deposit, with direct access by winter road and ATV trail in summer. The Uranium Deposit hosts a historic 43-101 inferred resource estimate of 227,880 tonnes, with a grade of 2.14 lbs/tonne U3O8, (Fission Energy Corp, 2007). Additionally, Fission sampled 39 boulders in the deposit area with results up to 1.91% uranium and 0.69% copper, plus 0.14% cobalt and 0.55% vanadium (see press release https://searchlightresources.com/news/2018/searchlight-resources-acquires-cobalt-vanadium-property-in-saskatchewan/ ). The Duddridge Lake Uranium Deposit is described as stratabound uranium and copper mineralization, with abundant polymetallic mineral occurrences associated with basal quartz conglomerate and carbonaceous-bearing lenses in red bed (hematitic) arkosic metasediments.Map 1. 2023 MMI results for Uranium...