0 von 5 - 0 Bewertungen
Vielen Dank für die Bewertung dieses Beitrags.

Searchlight Resources Inc. (TSXV: SCLT, US:CNYCF,FSE:2CC2) has announced plans to test its high-grade Robinson Creek gold project in Saskatchewan's Flin Flon mining camp with drilling for the first time in Q1 of next year. In May Searchlight acquired the 100% option on the project and committed to payment of $100,000 CAD in cash and the issuance of two million common shares over four years. In addition, Searchlight must provide $475,000 in exploration expenditures over a four-year period.

Robinson Creek has an extensive archive of 75 historical drill results. The drilling was largely successful, outlining three vein structures over a one kilometer long area. Exploration was done during a period of particularly low gold prices, so the focus of exploration at the time was on high grade narrow intercepts. Searchlight's new approach is to explore both high grade underground and low grade open pit targets. Initial review of the data had already identified a 55-meter intercept of 2.50 grams per tonne gold in hole 81-1. The previous owners had only looked at the short high-grade intercepts in this hole.

In preparation for drilling, Searchlight has completed airborne magnetic and lidar surveys on the Robinson Creek and Bootleg Lake projects and has examined surface occurrences of vein and quartz zones on Robinson Creek as well as historical drill core.

During the 2021 summer field season, a geological team made an initial visit to the Robinson Creek project area to sample and confirm the surface location of previous drilling. They have located a drill collar location from the previous work.

During the field investigation, drill core from the 1980s drilling programs was encountered. Many of the core boxes are damaged, but it is estimated that 30% to 50% of the core is in useable condition. The company is exploring the possibility of repacking this core for future evaluation.

 Searchlight Resouces 40 year old drill core

>30 year old core from Robinson Creek; Picture Searchlight Resources

Concurrent with the fieldwork, triaxial airborne magnetic gradiometer and lidar surveys were conducted over the entire Robinson Creek property and a section of the Bootleg Lake project covering two former producing gold mines. Results of the fieldwork and airborne surveys are expected to be available in October. In addition, a detailed compilation of the 70 drill holes at Robinson Creek is underway and will be used in conjunction with the geophysical data for drill planning on this project.

Stephen Wallace, CEO of Searchlight summarized: “We look forward to commencing a drill program at Robinson Creek in the first quarter of 2022 to confirm the high grade and extensive gold assays previously reported on this property. This is an accessible and strategic area for Searchlight.”

Summary: Searchlight's stock has demanded a lot of patience from shareholders with little news flow. However, a good deal is still a good deal! The Robinson Creek acquisition clearly falls into that category: It has cost Searchlight peanuts to secure a prime property with historical data (75 drill holes), rounding out its property position in the Bootleg Lake camp in Flin Flon at the same time. One can surmise that CEO Steve Wallace will set the drill where there is a chance, by modern criteria, to unearth additional results such as the 55 meters of 2.5 g/t gold discovered in the historical data. It says a lot about the evolution of gold exploration that such a result, which would be considered outstanding today, was flatly overlooked in the1980s. Incidentally, Searchlight, with its approximately 300,000 km² of properties in Saskatchewan, is always good for a surprise, especially since the recent uranium boom has also brought the Athabasca Basin back into focus. Let's see.

Newsletter

 

Disclaimer: GOLDINVEST Consulting GmbH offers editors, agencies and companies the opportunity to publish commentaries, analyses and news on http://www.goldinvest.de. This content serves exclusively to inform the readers and does not represent any kind of call to action, neither explicitly nor implicitly, and is not to be understood as an assurance of any price development. Furthermore, it does not in any way replace individual expert investment advice and does not constitute an offer to sell the share(s) discussed or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising / journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between GOLDINVEST Consulting GmbH and its readers or the users of its offerings, as our information only relates to the company and not to the reader's investment decision.

The purchase of securities involves high risks which can lead to the complete loss of the capital invested. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research. Nevertheless, any liability for financial losses or the guarantee of the topicality, correctness, adequacy and completeness of the articles offered here is expressly excluded.

In accordance with §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares in Searchlight Resources and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. Furthermore, a contractual relationship exists between Searchlight Resources and GOLDINVEST Consulting GmbH which involves GOLDINVEST Consulting GmbH reporting on Searchlight Resources. This is another clear conflict of interest.

Weitere Nachrichten

Desert Gold delivers first results from ...
Desert Gold delivers first results from ...
Make do, not spill, was unmistakably the motto for Desert Gold (TSXV: DAU; FRA: QXR2) in this year's explorati...
291 views Wed, 20 Oct 2021, 10:08:40
Conico hits: stock gains 70 percent on 1...
Conico hits: stock gains 70 percent on 1...
The Australian stock market has reacted with a standing ovation to today's release of the very first dril...
524 views Mon, 26 Jul 2021, 07:42:50
P2 Gold: The founding team of Pretium Re...
P2 Gold: The founding team of Pretium Re...
The name of P2 Gold Inc. (TSX-V: PGLD; FRA: 4Z9) contains, for the initiated, a tongue-in-cheek reference to a...
340 views Mon, 28 Jun 2021, 07:15:36
Money Follows Discovery: Searchlight Res...
Money Follows Discovery: Searchlight Res...
Following the spectacular uranium discovery at its Kulyk-Lake project on the edge of the Athabasca Basin in Sa...
131 views Fri, 03 Dec 2021, 16:32:57
ION Energy Makes New Lithium Discovery W...
ION Energy Makes New Lithium Discovery W...
ION Energy Limited (TSXV: ION; FRA: 5YB) reports a new lithium discovery from its Baavhai Uul Lithium Salar pr...
67 views Wed, 01 Dec 2021, 16:50:12
P2 Gold drills 1.01 g/t gold equivalent ...
P2 Gold drills 1.01 g/t gold equivalent ...
The latest results from the past drill season at the Gabbs copper-gold project in Nevada once again exceed his...
85 views Wed, 01 Dec 2021, 15:53:36
Group Ten Metals: Final Agreement for Bl...
Group Ten Metals: Final Agreement for Bl...
Back in August, there were indications that Group Ten Metals Inc. (TSX-V: PGE, FSE: 5D32) would enter into an ...
156 views Wed, 01 Dec 2021, 05:45:40
Element 29 receives drilling permit for ...
Element 29 receives drilling permit for ...
Element 29 Resources Inc. (TSX-V: ECU; FRA: 2IK) may begin exploration on its second highly prospective copper...
81 views Mon, 29 Nov 2021, 17:28:46
Granite Creek Copper: Project neighbour ...
Granite Creek Copper: Project neighbour ...
Granite Creek Copper Limited's (TSXV: GCX, FSE: GRK) Carmacks copper-gold-silver project is located in the Min...
78 views Mon, 29 Nov 2021, 10:28:19
Finlay Minerals wants to find the twins ...
Finlay Minerals wants to find the twins ...
Denver-based activist hedge fund, Crescat Capital, made its first investment this summer in Finlay Minerals Lt...
1158 views Sat, 20 Nov 2021, 15:20:28