Searchlight Res Stock Price, News & Analysis

Searchlight Resources (OTC:SCLTF) has amended its option agreements with Refined Metals Inc. regarding the Milner and Basin Properties. The key modifications include extending cash payment deadlines of $55,000 (Basin) and $35,000 (Milner) to September 30, 2026, and pushing exploration expenditure deadlines of $200,000 (Basin) and $150,000 (Milner) to August 6, 2027.

As compensation, Searchlight will receive 27,500 common shares of Refined Metals. The company maintains a 2% net smelter return royalty on both properties, with 1% being repurchasable for CA$1,000,000. Searchlight continues to hold a diverse portfolio of gold, uranium, copper, and rare earth exploration projects in Saskatchewan, including Bootleg Lake with 4 past-producing gold mines and Robinson Creek with a gold exploration target of 77,000-154,000 ounces.

Searchlight Resources (OTC:SCLTF) has announced plans for a 5:1 share consolidation of its common shares. The consolidation will reduce the company's outstanding shares from 146,546,134 to approximately 29,309,227 shares.

The company states that the consolidation aims to enhance its ability to attract future financing, increase investor interest, and improve trading liquidity. The consolidation does not require shareholder approval and is pending acceptance from the TSX-V.

Searchlight Resources (OTC:SCLTF) has completed the acquisition of a 100% interest in the Robinson Creek Gold project in Saskatchewan, Canada. The property, located 16 km west of Creighton and Flin Flon, consists of 2 claim blocks covering 2.9 square km.

The project features an Initial Exploration Target of 77,000-154,000 ounces of gold, with estimated grades between 1.20-1.60 g/t across 2-3 million tonnes of ore. Historical drilling results show significant gold intersections, including 2.46 g/t gold over 57.60m. The acquisition includes a 2% NSR royalty, with Searchlight retaining the right to purchase 1.5% of the NSR for $2,250,000.

The Robinson Creek project's proximity to Searchlight's Bootleg Lake Gold project (15 km) presents potential operational synergies, particularly for shared processing facilities.

Searchlight Resources (OTC:SCLTF) has announced the strategic staking of claims covering the Otonadah Lake and Cam copper-zinc targets in Saskatchewan's Flin Flon Greenstone Belt. The newly staked claims, totaling 1,465.5 hectares, include a historic deposit reported by BHP-Utah Mines in 1992 containing 100,000 tonnes grading 3.4% copper and 1.5% zinc.

Located just 25 km northwest of Flin Flon, a major mining center, the property benefits from excellent infrastructure with Highway 106 nearby. The Otonadah Lake prospect features a thick gossan with sulphide replacement bodies, while the CAM Option Cu Showing includes 7 trenches extending over a 701m strike length. The company plans to conduct prospecting, MMI sampling, and airborne geophysics as part of future exploration efforts.

Searchlight Resources (SCLTF) has announced promising results from secondary processing of airborne magnetic data at its Bootleg Lake Gold project in Saskatchewan. The analysis, using Oasis montaj TM CET Grid Analysis system, identified approximately 15 new structurally complex zones as potential gold exploration targets. The survey covered 359 line-km at 50m spacing across 16 sq km of the 49.9-sq km property. The data processing successfully confirmed structural complexity corresponding to existing mines (Rio, Henning-Maloney, and Wekach) along the Rio Fault Zone, while also identifying new targets near the West Arm Shear Zone. The Bootleg Lake project includes three past-producing high-grade gold mines and is located 7 km from Creighton, Saskatchewan and Flin Flon, Manitoba. The project features the Rio Mine with 1,500m of underground workings potentially viable for reopening.

Searchlight Resources (TSXV: SCLT) has announced a change in its auditing firm, appointing Jones & O'Connell LLP as its new auditor effective June 16, 2025, replacing Manning Elliott LLP. The transition was approved by the company's Board of Directors and all required notices under National Instrument 51-102 have been filed on SEDAR. Notably, there were no disagreements, consultations, reservations, modifications, or reportable events related to the audits of the company's two most recent fiscal years or any period up to the date of the notice. The change appears to be a routine corporate governance matter with no underlying issues or concerns reported.

Searchlight Resources (SCLTF) has entered into an option agreement with Canadian Gold Corp (CGC) to assign its Flin Flon North project, comprising five claims covering 5,644.6 hectares located 10 km north of Flin Flon, Manitoba. The total compensation includes $130,000 in cash and $200,000 in CGC shares, structured over a four-year period. The agreement involves Searchlight assigning 100% interest in the GEM Option to CGC, with payments split 75% to Searchlight and 25% to GEM Oil. Additionally, Searchlight continues to actively explore two other gold properties in the Flin Flon district: Bootleg Lake, featuring three past-producing gold mines and the Rio Mine with 1,500m of modern underground workings, and Robinson Creek, with an exploration target of 77,000 to 154,000 ounces gold.

Searchlight Resources (TSXV: SCLT) (OTC Pink: SCLTF) has announced the staking of two new mineral claims in the Eastern Athabasca Basin, Saskatchewan. The claims, MC00019721 and MC00019725, cover 3,902.8 hectares and are located 45 kilometers north of the Cigar Lake Uranium Mine.

The strategic location offers key advantages: proximity to Highway 905 (less than 5km), access to Northern Saskatchewan hydro electrical infrastructure, and borders with Denison Mines Corp. Historical diamond drill holes in adjacent northern claims have shown anomalous uranium and rare earth values.

These claims complement Searchlight's uranium portfolio, which includes the Duddridge Lake Uranium Deposit. This deposit has a historical 43-101 inferred resource of 227,880 tonnes at 2.14 lbs/tonne U3O8, with historic boulder samples showing values of 9.8% U3O8, 1.6% Cu, 0.2% V, 0.2 oz/ton Au, and 7.0 oz/ton Ag.

Searchlight Resources (TSXV: SCLT) (OTC: SCLTF) has staked two mineral claims spanning 37.3 sq km in Saskatchewan's Eastern Wollaston Domain, approximately 70 km northwest of McClean Lake Uranium Mine. The claims include the Bonnie Lake showings, located in a prime uranium exploration area.

Historical exploration from 1980 revealed significant uranium findings in the area, with 58 showings ranging from 1,000-28,000 cps of radioactivity. Assays showed values up to 0.183% U3O8 and 1.30% ThO2, with the highest radioactivity concentrated in a 150m by 100m area of pegmatite-intruded calc-silicate marble. The radioactive mineral was identified as uranothorite.

This acquisition complements Searchlight's uranium portfolio, which includes the Duddridge Lake Uranium Deposit and Kulyk Lake Uranium/Rare Earth project.