Searchlight Begins Airborne Surveys on the Mari Lake Gold Project in Saskatchewan
Rhea-AI Summary
Searchlight Resources (TSXV: SCLT, OTC Pink: SCLTF) has begun high-resolution airborne magnetic and radiometric surveys over its expanded Mari Lake Gold Project in Saskatchewan, now covering 43.1 sq km of claims about 30 km north of Creighton and Flin Flon.
The surveys, conducted by Special Projects of Calgary, target the Kississing River Shear Zone, which hosts known high-grade gold occurrences. Searchlight has also engaged TUZO GeoSurveys to complete UAV photogrammetry and Lidar at the Robinson Creek gold target in preparation for a planned diamond drilling program to verify historical results.
Positive
- Mari Lake claims expanded to 43.1 sq km from 4.8 sq km
- High-resolution airborne magnetic and radiometric surveys underway over entire Mari Lake block
- Focus on Kississing River Shear Zone hosting known high-grade gold occurrences
- UAV photogrammetry and Lidar contracted for Robinson Creek ahead of drilling
- Historic work includes 22 drillholes, 39 trenches, multiple visible-gold sample intervals
Negative
- Mari Lake remains relatively unexplored, with historical drilling to less than 50 m depth
- No prior geophysics completed historically to locate additional gold-bearing structures
- Historical sample results not verified independently by Searchlight, with uncertain true widths
News Market Reaction – SCLTF
In the Jul 21 session, SCLTF gained 0.74%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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- High-resolution Airborne Magnetic and Radiometric surveys covering all Mari Lake Gold Project claims.
- Survey designed to highlight the Kississing River Shear Zone related to the high-grade gold mineralization at Mari Lake.
- Preparation for high-resolution drone (UAV) Photogrammetry and Lidar at Robinson Creek Gold target.
Vancouver, British Columbia--(Newsfile Corp. - July 21, 2026) - Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) ("Searchlight" or the "Company") is pleased to announce that high-resolution airborne magnetic and radiometric surveys covering all Mari Lake claims, are underway. The claims are located approximately 30 km north of Creighton, Saskatchewan and Flin Flon, Manitoba, and 40 km north of the Company's Bootleg Lake Gold Project (Map 1).
Searchlight has contracted Special Projects of Calgary to carry out the airborne magnetic and radiometric surveys on the Mari Lake Gold Project. The Company has recently expanded the Mari Lake claims to 43.1 sq km from the original 4.8 sq km (Map 2). The surveys will cover the entire claim block, focusing on the Kississing River Shear Zone which hosts the known high-grade gold occurrences.
"Despite the encouraging results from prior surface sampling and diamond drilling, Mari Lake is still relatively unexplored, as drilling was done to a vertical depth of less than 50 meters, and no geophysics was done to find additional gold bearing structures. Searchlight's current exploration program will address some of these limitations," stated Stephen Wallace, Searchlight's CEO.
Searchlight has contracted TUZO GeoSurveys to carry out the UAV photogrammetry and Lidar survey at Robinson Creek, in preparation for the planned diamond drilling program to verify historical results.
Mari Lake Gold Project Highlights
Mari Lake is a high-grade gold project with the following highlights from historical exploration completed between 1945 and 1986:
22 drillholes, 39 trenches and several pits. Multiple reports of visible gold.
Gold mineralized structure over 700 metres in length.
Drill hole samples of 0.85 oz/ton Au over 2.8 feet and 0.52 oz/ton Au over 2.5 feet, with visible gold.
Trench samples of 1.28 oz/ton Au over 10 feet and 0.50 oz/ton Au over 6.0 feet, with visible gold.
Pit samples of 2.98 oz/ton Au and 1.41 oz/ton Au.
Grab samples of 2.48 oz/ton Au and 1.1 oz/ton Au, with visible gold.
The claims are located 6 km from the hydroelectric power line between Flin Flon and the Island Falls Hydroelectric Station. The claims can be accessed by air from Flin Flon or by bush road to Mari Lake, and then by boat to the project area.
Disclaimer: Management cautions that the presented drill, trench and grab sample results are historical in nature, and Searchlight has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the previous exploration work to verify the results. Searchlight considers these sample results relevant, as the Company uses historical reports and sample results to evaluate and plan future exploration programs. All drill intercepts are drill-indicated lengths. Insufficient technical information exists to demonstrate the true widths of these intersections. The technical information is derived from public documents available through the Saskatchewan Government Ministry of Energy and Resources.
Map 1. Location of Mari Lake and other Searchlight Resources projects.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9828/305910_a54e11acc42a18bd_002full.jpg
Map 2. Mari Lake Gold Claims located on the Kississing River Shear Zone.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9828/305910_a54e11acc42a18bd_003full.jpg
Qualified Person
Stephen Wallace, P.Geo., is Searchlight's Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
About Searchlight Resources Inc.
Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) is a Canadian mineral exploration and development company focused on Gold in Saskatchewan, Canada, which has been ranked as one of the top 10 locations in the world for mining investment by the Fraser Institute.
Searchlight is pursuing a business plan to develop a consolidated gold mining operation centered on its Rio Gold Mine, a historic brownfield site, with upside potential from its recently drill-permitted Robinson Creek property, the new zones discovered at the Henning Maloney Mine, and now the Mari Lake high-grade property.
On behalf of the Board of Directors,
"Stephen Wallace"
Stephen Wallace, President, CEO and Director
SEARCHLIGHT RESOURCES INC.
For further information, visit the Company's website at www.searchlightresources.com or contact:
Searchlight Resources Inc.
Jason Powell
604 331-9326
info@searchlightresources.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
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