Searchlight Resources Adds Mari Lake High Grade Gold Project to Its Saskatchewan Gold Portfolio
Rhea-AI Summary
Searchlight Resources (OTC: SCLTF) staked the Mari Lake high-grade gold project in Saskatchewan, adding a 4.7 km2 claim located ~30 km north of Creighton and ~40 km north of Bootleg Lake on April 20, 2026.
Historical work reports a mineralized structure ~700 m long and assays up to 2.98 oz/ton Au. Searchlight holds 100% interest with no royalties and notes the results are historical and unverified by the company.
Positive
- 4.7 km2 claim staked giving Searchlight regional scale exposure
- 100% interest, no royalties on Mari Lake claims
- Historical assays up to 2.98 oz/ton Au
- Reported 700 m mineralized structure length
- 6 km proximity to hydroelectric power line
Negative
- All assay and sample results are historical and unverified by Searchlight
- Drill intercepts are drill-indicated lengths with insufficient data to confirm true widths
- Remote access: air or bush road plus boat may limit near-term logistics
News Market Reaction – SCLTF
In the Apr 20 session, SCLTF declined 10.57%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Historical Data Highlights
- 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.
- Located 30 km north of Creighton, Saskatchewan and Flin Flon, Manitoba.
Vancouver, British Columbia--(Newsfile Corp. - April 20, 2026) - Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) ("Searchlight" or the "Company") is pleased to announce that the Company has staked the Mari Lake high-grade gold project 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).
The Mari Lake project is Searchlight's third high grade project in the Flin Flon Mining District, along with the Bootleg Lake and Robinson Creek gold projects. The Company has initiated plans to reopen the underground ramp at the past-producing Rio Gold Mine, one of the three past-producing gold mines on the Bootleg Lake claims.
The Mari Lake project is a high-grade gold project with 22 historical diamond drillholes, 39 trenches and several pits completed between 1945 and 1986. Assessment files report a mineralized structure 700 metres in length, with high-grade results up to 2.98 oz/ton gold, and multiple reports of visible gold.
"With the addition of the Mari Lake project, Searchlight now holds three high-grade gold targets within the Flin Flon mining district which has significant geological potential, but limited gold exploration," stated Stephen Wallace, Searchlight's CEO. "With the current gold prices, the Mari Lake project is one more high-grade, high-value gold project that Searchlight holds in Saskatchewan."
The Mari Lake claim covers 4.7 square km and was acquired through cost effective staking. Searchlight holds a
"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 old property," stated Alf Stewart, Searchlight's Chairman.
Searchlight has compiled a geology, mineralization and exploration history of the Mari Lake project, which is available on the Searchlight website, www.searchlightresources.com.
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: Mari Lake Location Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9828/293291_38e7991fc45aeaf5_002full.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. The Company is currently planning the reopening of the Rio Gold Mine located 5 km from Creighton, Saskatchewan and Flin Flon, Manitoba.
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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293291