Searchlight Resources Confirms Airborne Radiometric Anomalies in Ground Survey
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
July 04, 2022
Searchlight Resources
Confirms Airborne Radiometric Anomalies
in Ground Survey
Vancouver, British Columbia, July 04, 2022 - Searchlight Resources Inc. (“Searchlight” or the
“Company”) (TSXV: SCLT, US: CNYCF, FSE:2CC2) is pleased to announce the Company has
completed the initial prospecting program on the Kulyk Lake Rare Earth Element (“REE”) project,
located approximately 165 km north of La Ronge, Saskatchewan, and 65 km south of the Key Lake
Uranium Mine.
Highlights
• 2021 Anomalous airborne radiometric results verified
• Field scintillometer readings of up to 13,800 counts per second
• Searchlight expands known area of the Kulyk Lake Pegmatite System
Searchlight Resources has recently completed the initial prospecting program on the Kulyk Lake REE-
Uranium project, designed to follow up airborne thorium anomalies identified by the 2021 airborne
radiometric survey. Searchlight uses thorium as a pathfinder element to detect the rare earth mineral
monazite, which is documented in the Kulyk Lake area.
The prospecting program, which included grab sampling and field scintillometer readings, confirmed
the results of the 2021 airborne survey, and revealed an extension to the known pegmatite vein swarm
identified by previous work. These pegmatites occur within the Rare Earth Elements Prospecting Zone
[1, Map 1].
The field program was completed by Axiom Exploration Group Ltd. (Axiom) and covered
approximately 25% of the 6-kilometer-long thorium anomalous zone detected by the 2021 airborne
survey. A total of 18 grab samples were collected, along with 80 scintillometer readings. The
scintillometer readings included 30 readings over 1,000 counts per second (cps), with values up to
13,800 cps associated with newly mapped pegmatites on the north side of Kulyk Lake.
“We are encouraged by the strong radioactivity detected over a large area on the north side of Kulyk
Lake and will follow up with more detailed surveys in this newly identified prospective area”, stated
Stephen Wallace, Searchlight’s CEO.
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
The grab samples will be submitted to the Saskatchewan Research Council laboratory in Saskatoon
for complete analysis. Additionally, Axiom geologists visited the Fanta REE showing, and collected
samples of monazite for detailed chemical analysis, petrographic studies and preliminary metallurgical
testing.
About Kulyk Lake
The Kulyk Lake project covers 349 square kilometers of 100%-held staked claims located
approximately 165 km north of La Ronge, Saskatchewan, and 65 km south of the Key Lake Uranium
Mine. Searchlight Resources originally staked the claims based on the Fanta showing, a historically
known occurrence of massive monazite on the south shore of Kulyk Lake.
Academic investigations by Watkinson and Mainwaring, 1975 [2] and McKeough et al, 2013 [3], have
documented the composition of the Fanta zone monazite-bearing pegmatite, and postulated a genetic
model for its formation. The former article documented the monazite as having a constant
composition, with REE content of lanthanum oxide 15.1%, cerium oxide 36.1 %, praseodymium oxide
4.9%, neodymium oxide 10.1%, thorium oxide 4.3% and phosphorous oxide 27.8%.
Mineral exploration was previously carried out between 2009 and 2011, primarily on the south shore of
Kulyk Lake. This area, including the Eldorado uranium zone and the Fanta REE zone and immediate
surroundings, were systematically mapped and trenched by Terralogic Consultants [4]. The Fanta
trench samples were described as follows: “Three heavy, radioactive, brick red and black samples
were collected from these trenches. All three samples (AGKJR 001 to 003) returned exceptional total
rare earth oxide assays of 55.9%, 30.6% and 18.9%, respectively. This is a factor of 10 greater than
any rare earth element results we have ever seen in the district and is approaching the theoretical
maximum rare earth element content of the mineral monazite. Sample AGKJR003 is a 0.7 m chip
sample. Individual rare earth element contents for grab sample AGKJR001 are as follows: Cerium
oxide – 28.1%, Neodymium oxide – 9.57%, Europium oxide – 0.086%, and Terbium oxide – 0.051%".
In September 2021, Searchlight Resources completed an airborne radiometric survey which outlined
significant new thorium and uranium targets [5].
About Pegmatites
An exceptionally coarse-grained igneous rock, with interlocking crystals, usually found as irregular
dikes, lenses, or veins, esp. at the margins of batholiths. Most grains are 1 cm or more in diameter.
Although pegmatites having gross compositions similar to other rock types are known, their
composition is generally that of granite; the composition may be simple or complex and may include
rare minerals rich in such elements as lithium, beryllium, cesium, boron, fluorine, niobium, tantalum,
uranium, and rare earths. Pegmatites represent the last and most hydrous portion of a magma to
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
crystallize and hence contain high concentrations of minerals present only in trace amounts in granitic
rocks.
About Monazite
Monazite is the primary ore mineral of rare earths globally and contains the element thorium which
Searchlight uses as a pathfinder element. Thorium is radioactive and can be detected from airborne
and ground radiation surveys.
To advance rare earth production, the Saskatchewan Government, through the Saskatchewan
Research Council, has funded a $30 million monazite processing facility in Saskatoon to extract rare
earths from monazite concentrates. Kulyk Lake is one of only two high grade monazite deposits
known to occur within the province.
Cautionary Note
Natural gamma radiation in surface prospecting reported in this news release was measured in counts
per second (cps) using a handheld RS-125/230 gamma-ray scintillometer. The reader is cautioned
that Searchlight uses scintillometer readings as a preliminary indication of the presence of radioactive
materials (uranium, thorium and/or potassium), and that scintillometer results may not be used directly
to quantify or qualify uranium or thorium concentrations of the rock samples measured.
References
1. Searchlight Resources Press Release, June 23, 2022.
https://searchlightresources.com/news/2022/searchlight-resources-begins-field-work-on-rare-
earth-and-uranium-targets-on-kulyk-lake-exploration-project/
2. Watkinson, D. H., & Mainwaring, P. R. (1976). The Kulyk Lake monazite deposit, northern
Saskatchewan. Canadian Journal of Earth Sciences. 13(3): 470-475.
3. McKeough, M. A., Lentz, D. R., McFarlane, C. R., & Brown, J. (2013). Geology and evolution of
pegmatite-hosted U-Th±REE-Y-Nb Mineralization, Kulyk, Eagle, and Karin Lakes region,
Wollaston Domain, northern Saskatchewan, Canada: examples of the dual role of extreme
fractionation and hybridization processes. Journal of Geosciences, 58(4), 321-346.
4. McKeough, M. A., & Brown, J. (2011). 2010 Trenching and Prospecting, Baska-Eldorado
Property, Terralogic Consultants. Saskatchewan Mineral Assessment Database, File Number:
74A11-0054
5. Searchlight Resources Press Release, October 25, 2021
https://searchlightresources.com/news/2021/searchlight-resources-defines-new-rare-earth-
and-uranium-targets-on-kulyk-lake-exploration-project/
TSXV: SCLT US: CNYCF| 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
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, US:CNYCF, FSE:2CC2) is a Canadian mineral exploration
and development company focused on Saskatchewan, Canada, which has been ranked as the top
location for mining investment in Canada by the Fraser Institute. Exploration focus is on Rare Earth
Elements, uranium, battery mine rals and gold throughout the province. Searchlight holds over 1,395
square kilometres of claims in Saskatchewan.
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.
Alf Stewart, Chairman
(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 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 legislati on, the Company undertakes no obligation to publicly
update or revise forward-looking information.
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