Gold Projects

Searchlight Resources has 3 gold projects in their portfolio:

Searchlight’s thesis is that the Flin Flon greenstone belt hosts significant gold deposits that have never been mined. It was a premier gold district in the 1980s, but little has been done there in the last 30 years. Searchlight has focused on the gold deposits within 20 kilometers of Flin Flon, which can be developed into a consolidated mining operation.

Highlights

  • Searchlight controls over 300 square kilometers of land with four past producing gold mines, an advanced gold prospect at Robinson Creek and numerous targets all within trucking distance of Flin Flon
  • There are drill-ready high-grade gold targets
  • Searchlight is targeting quality projects close to infrastructure for low cost and efficient exploration and development
  • Development timeframe to cash flow is shorter than elsewhere due to favourable infrastructure and government support and incentives for mine development in the Flin Flon-La Ronge district
  • Searchlight accumulated land in the down-market cycle and is poised to benefit from a new commodities bull market

Why Gold in Flin Flon Saskatchewan?

Searchlight believes in the potential for a consolidated gold mining project in the Amisk Lake-Bootleg Lake area of eastern Saskatchewan. Why? Other greenstone belts around the world host both base metal and gold deposits. Also because this area has many former small-scale gold mines, and advanced gold deposits all within trucking distance of Flin Flon.

Why is being close to Flin Flon important? Because it lowers the cost of developing a gold mine. It is like Goldilocks’s porridge, neither too hot with competing land uses, or too cold by being too far from key infrastructure such as roads, rail lines, labour, and mining services.

Since 2017, Searchlight has combined four former producers and one advanced drilling property into a consolidated Flin Flon gold property holding and has drilled and assayed two of these areas.

During 2021, Searchlight carried out exploration activities on the Rio Fault Zone structure, near the former Henning-Maloney Mine, and its western extension towards the former producing Wekach Gold Mine at Wekach Lake. Activities consisted of three diamond drill holes and an aerial magnetics survey over the western extension of the shear structure. Gold was intersected in each of the three holes, in multiple intercepts and shallow depths. The magnetics outlined additional targets for investigation. These are positive developments for the “thinking bigger’ approach.

In the Amisk Lake area, Searchlight optioned the Robinson Creek gold property, where over seventy holes have been drilled by Saskatchewan Mining and Development Corp. Searchlight engaged Axiom Exploration to visit and resample surface exposures on the property and locate old drill collars and core. At Robinson Creek, surface sampling revealed widespread gold mineralization from surface outcroppings and trenches indicating a large gold system. Meanwhile, SSR Mining announced results from its adjoining Sam property indicating district-scale potential for gold along Amisk Lake structures. All of this is a short distance from Flin Flon.

At Manson Bay, forty kilometers north of Flin Flon, Searchlight has a 100 interest in two claim blocks adjacent to SKRR Resources’s recent four hole program at Manson Bay. Searchlight’s property is to the west and potentially up-dip from SKRR’s drilling, and a second claim holding is along strike one kilometer to the north-east of SKRR’s recent drilling.

 

© 2022 Searchlight Resources Inc.
All rights reserved.