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Searchlight Resources Stakes Additional Claims on the Kulyk Lake Critical Rare Earth Project
VANCOUVER, BC / ACCESSWIRE / April 12, 2021 / Searchlight Resources Inc. ("Searchlight" or ...
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[{"type":"text","content":"Searchlight Resources Stakes Additional Claims on the Kulyk Lake Critical Rare Earth ProjectVANCOUVER, BC / ACCESSWIRE / April 12, 2021 / Searchlight Resources Inc. (\"Searchlight\" or the \"Company\") (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2) is pleased to announce additional staking on the Kulyk Lake Rare Earth Project, located approximately 165 kilometres north of La Ronge, Saskatchewan and 65 km south of the Key Lake Uranium Mine.Kulyk Lake Claim Block increased by 36.4 sq km, to 61.1 sq kmSearchlight has staked an additional 36.4 square kilometres of claims, increasing the total claim area of the Kulyk Lake project to 61.1 sq km. The claim blocks now cover a total of 19 rare earth showings and sample locations (Map 1), including the Kulyk Lake rare earth element (REE) target with the high-grade total rare earth oxide (TREO) and critical rare earth oxide (CREO) values shown below.Kulyk Lake High Grade Samples include:56.18% TREO, including 12.49% CREO in historic grab sample,including 9.61% Neodymium Oxide (Nd2O3), and 1,194 ppm Dysprosium Oxide (Dy2O3)[1]45.10% TREO, including 10.08% CREO in historic 0.6 m trench sample,including 7.64% Neodymium Oxide (Nd2O3), and 1,114 ppm Dysprosium Oxide (Dy2O3) \"The Kulyk Lake high-grade rare earth target represents a significant opportunity for Searchlight, with the increased interest by Canadian Federal and Provincial governments in rare earth elements, particularly the critical elements Neodymium and Dysprosium. Saskatchewan is also developing Canada's first Rare Earth Processing Facility at the Saskatchewan Research Council in Saskatoon, which further advances rare earth development in Canada\", stated Stephen Wallace, President and CEO of Searchlight.Searchlight acquired the project by staking as part of the Company's systematic evaluation of exploration targets in Saskatchewan. Historically, the Kulyk Lake area had been explored for uranium, followed by preliminary rare earth exploration in 2009 and 2010. Map 1. Searchlight Resources Kulyk Lake REE Project Claim BlocksIn 2009, grab and channel samples were collected from Kulyk Lake area and analysed with a REE analytical package at the Saskatchewan Research Council Laboratory. The results included; 56.18% TREO including 12.49% CREO in selected grab sample AGKJR001, 30.6% TREO including 6.82% CREO in selected grab sample AGKJR002, and...