Searchlight Resources Announces Completion of First Phase of Exploration at English Bay Gold Project
TSXV: SCLT; US: CNYCF
Suite 408 – 1199 West Pender Street • Vancouver, B.C. • V6E 2R1
TEL (604) 331-9326 • FAX (604) 684-9365
July 27, 2020
Searchlight Resources Announces Completion of
First Phase of Exploration at English Bay Gold Project
• Historic drill core located and reviewed
• Visible gold confirmed in 1997 discovery drill core
• Historic assay pulps and rejects selected for analysis
• 167 line kilometers of UAV magnetic survey completed
Vancouver, British Columbia, - July 27 2020 – Stephen Wallace, CEO of Searchlight Resources
Inc. (TSXV:SCLT, U S:CNYCF) is please d to announce the completion of Phase One of the
2020 exploration program at the English Bay Gold Project, located ten kilometers north of the
community of La Ronge, Saskatchewan.
“The initial results of our program are very encouraging,” commented Mr. Wallace. “The 1997 to
2013 drill core was located and is 100% intact. Visible gold was obse rved in the core f rom the
original discovery drill hole, and at least half the pulps and rejec ts from this drilling are available
for resampl ing and analysis. Based on these results, further field work is being organized ,
leading to the diamond drill program being planned for October of this year.”
Over the past month a team from Axiom Exploration Group (“Axiom”) completed an initial site
visit to the English Bay project, including preliminary examination of the historic drill core, which
was followed by a detailed mag netic survey using an Unmanned Aerial Vehicle (‘UAV’),
equipped with a specially designed UAV magnetometer sensor.
As announced on June 25 th, 2020 (https://searchlightresources.com/news/2020/searchlight-
resources-commences-2020-exploration-at-its-high-grade-english-bay-gold-project/) the first
phase of exploration , included a preliminary site visit and core review. The dri ll core was
inspected and 100% of the core was found intact, plus the returned lab materials for about 50%
of the drill holes were located and transported securely to Saskatoon by an Axiom geologist.
During the drill core inspection, the discovery drill hole CSP-03 was examined and to quote the
Axiom report “Visible gold was identified in CSP -3 at 375. 2 ft within a sampled interval and
verified with the XRF. The gold was proximal to pyrite and pyrrhotite within a green to dark
green fine grai ned, moderately chlorite and seric ite altered metasedimentary rock with q uartz
flooding“.
The Company is now reviewing t he returned lab materials ( pulps a nd rejects) and plans on
resubmitting a selection of this material for confirmation analysis. To validate and further review
these historical results , Searchlight has obtained the full set of assay certificates related to all
the previous drilling directly from TSL Laboratories in Saskatoon. In addition to the core review ,
the site of the historic drilling was visited in an attempt to locate the past drill collar locations. A
small number of these sites were located, but without identification as the entire area was
subject to a major forest fire in 2015. Further field work is planned.
Following the site visit a detailed UAV Magnetic survey was conducted at English Bay covering
3.8 sq. kilometers at 25-meter line spacing for a total of 167 line kilometers. Final data from this
survey is being processed and will be available to Searchlight by the end of July and will form
part of the information used to target diamond drilling at English Bay.
2020 Drill Program
Searchlight continues to work toward a diamond drill program at English Bay being planned for
October with the submittal of a Surface Exploration Permit Application to the S askatchewan
Ministry of the Environment. In addition, logistics and drill hole planning /modelling is underway
to allow a prompt start to drilling as soon as all permits are in place.
English Bay Gold Project
The English Bay high grade gold project is locat ed approximately 10 km north of La Ronge,
Saskatchewan, alongside highway 102, and which was previously explored from 199 7 – 2002
and in 2013, with 37 drill holes totaling 5,161 meters. Multiple high-grade gold drill intersections
over a 400m of strike length were discovered including:
• 2.10 oz/t gold over 4 feet (72.00 g/t Au over 1.2 metres) in DDH CSP-16
• 1.85 oz/t gold over 4.5 feet (63.43 Au g/t over 1.4 metres) in DDH CSP-03
• 1.39 oz/t gold over 4 feet (47.66 g/t Au over 1.2 metres) in DDH CSP-13
• 0.569 oz/t gold over 9 feet (19.51 g/t Au over 2.8 metres) in DDH CSP-04
Data Note
Data quoted on drill hole CPS-03 is from “Logistics and Project Summary Report 2 020, English
Bay Reconnaissance Program, L a Ronge, Saskatchewan by Tyler Fi olleau, P.Geo. and
Matthew Schwab, P.Geo., June 30, 2020”
Qualified Person
Stephen Wallace, P.Geo., is Searchlight's Qu alified Person within the meaning of National
Instrument 43-101 and has re viewed and approved the technical information conta ined in this
news release.
About Searchlight Resources Inc.
Searchlight Resources Inc. (TSX.V:SCLT; US:CYNCF) is a Canadian mineral exploration and
development company focused on Saskatchewan, Canada, which ranked as the top location for
mining investment in Canada by the Fraser Institute. Searchlight is currently advancing its
English Bay high grade gold project located 10 km from LaRonge, and its Bootleg Lake Project
located in Saskatchewan less than 10 km from Flin Flon, Manitoba, hosting multiple past
producing high-grade gold mines.
On behalf of the Board of Directors,
“Stephen Wallace”
SEARCHLIGHT RESOURCES INC.
Stephen Wallace, President, CEO and Director
For further information, visit the Comp any’s website at www.searchlightresources.com or
contact:
Searchlight Resources Inc.
Alf Stewart, VP Corporate Development
(604) 331-9326
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 estimat es, beliefs, intentions and expectations. They are not guara ntees of future
performance. The Company cautions t hat all forward l ooking statements are inh erently
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 his tory and the need to comply with
environmental and governmental regulations. Accordingly, actual and fu ture events, conditions
and results may differ materially fr om the estimates, beliefs, intentions and expectati ons
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