Searchlight Resources Commences 2020 Exploration at its High Grade English Bay Gold Project
TSXV: SCLT
Suite 408 – 1199 West Pender Street • Vancouver, B.C. • V6E 2R1
TEL (604) 331-9326 • FAX (604) 684-9365
Searchlight Resources Commences 2020 Exploration at its
High Grade English Bay Gold Project
Vancouver, British Columbia, June 25th, 2020 - Searchlight Resources Inc.
(“Searchlight” or the “Company”) (TSX.V: SCLT; US: CNYCF) is pleased to
announce the Company has commenced its 2020 exploration program at the English
Bay Gold Project, located 10 kilometers north of La Ronge, Saskatchewan.
“We are excited to be back working on our projects in Saskatchewan,” said Stephen
Wallace, CEO of Searchlight. “The Company is now well positioned with a strong
treasury, and a robust gold market, and focused on fully executing our exploration plans
on our high-grade gold targets near La Ronge and Flin Flon”
A team of geologists from Axiom Exploration Group are now onsite to review the 5,161
meters of drill core from 37 historical drill holes, with plans to relog, sample, collect XRF
data from selected high-grade drill holes and complete geological modelling. In addition,
the exploration technical team will visit the English Bay Gold Property, located 10
kilometers north of La Ronge, to pinpoint past drill sites and determine access for future
drilling.
This preliminary work and due diligence are in preparation for additional exploration
which will include:
• During July and August 2020, execute a summer geophysical survey (UAV MAG)
across the property to assist in drill targeting /vectoring.
• During September - October 2020, complete geological modelling, drill ho le final
targeting and commence drilling to validate historical high-grade intercepts.
English Bay Gold Project
The English Bay high grade gold project is located approximately 10 km north of La
Ronge, Saskatchewan, alongside highway 102, and which was previously explored
from 1997 – 2002 and in 2013, w ith 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
Technical Note
These presented drill sample results are historical in nature and Searchlight has not
undertaken any independent investigation of the sampl ing nor has it independently
analyzed the results of the previous exploration work in order to verify the results.
Searchlight considers these sample results relevant as the Company uses historical
reports to evaluate and historic sample results as a guide to plan future exploration
programs. All sample widths cut by drill holes are not true widths, they represent the
intersection of the incline hole with the dip of the mineralized structure. Searchlight
estimates from historical data the true widths are 55% to 75% of recorded widths.
Company Matters
The Company also announces that it has cancelled 725,000 incentive stock options
held by directors, employees, and consultants of the Company exercisable $0.20 per
share.
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. (TSX.V:SCLT; US:CYNCF) is a Canadian mineral
exploration and development company focused on Saskatchewan , Canada, which
ranked as the top location in Canada by the Fraser Institute for mining investment.
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 Company’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 estimates, beliefs, intentions and expectations. They are not gu arantees 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 incl ude, 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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