Searchlight Resources Intersects Multiple Gold Zones at Henning-Maloney
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
April 26, 2021
Searchlight Resources Intersects
Multiple Gold Zones at Henning-Maloney
Vancouver, British Columbia, April 26, 20 21 - Searchlight Resources Inc. (“Searchlight” or the
“Company”) (TSXV:SCLT, US:CNYCF, FSE:2CC2) is pleased to announce the results of the drill
program on the Henning-Maloney gold target located 6 kilometres south of Creighton, Saskatchewan,
in the historic Flin Flon mining camp.
Highlights
• Multiple gold intersections in each of the three Henning-Maloney diamond drill holes
• High grade intersection of 31.59 grams’/tonne gold over 1.0 metre in DDH HM-21-03
• Tripled the depth of known gold mineralization at Henning-Maloney
The Henning-Maloney drill program which totaled 601 metres in three NQ diamond drill holes , was
designed to verify gold mineralization in the area of the historic mine , and to test whether the
mineralization continued to depth . The drilling results show multiple gold intersections in each of the
three holes (Table 1), including the following highlights:
• 4.15 g/t gold over 0.95 m in drill hole HM-21-01
• 7.91 g/t gold over 0.85 m in drill hole HM-21-02
• 8.4 g/t gold over 0.7 m in drill hole HM-21-02
• 31.59 g/t gold over 1.0 m in drill hole HM-21-03
The deepest gold intersection was 140 m vertically below surface, approximately 3 times the depth of
the 1940s mine shaft (Figures 1 and 2)
“At Searchlight we are pleased with our initial drilling at Henning-Maloney, both verifying the location of
gold mineralization and tripling the known mineralization depth”, stated Stephen Wallace, CEO. “Multiple
gold zone intersections in each drill hole coupled with demonstrated gold mineralization further west
than previously known, opens up future targets”.
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Based on these results, the Company is currently planning additional drilling at Henning-Maloney and
exploring other potential gold targets on the Bootleg claims.
Table 1: Selected results from Henning-Maloney drilling March 2021
DDH Intersection From To Length Grade
metre metre metre g/t Au
HM-21-01 1-1 67.30 67.80 0.50 3.81
HM-21-01 1-2 71.80 74.70 2.90 1.12
including 73.80 74.70 0.90 2.81
HM-21-01 1-3 90.95 91.9 0.95 4.15
HM-21-01 1-4 141.00 145.00 4.00 1.33
HM-21-02 2-1 82.25 92.00 9.75 1.16
including 83.25 84.10 0.85 7.91
HM-21-02 2-2 143.55 147.00 3.45 2.59
including 144.30 145.00 0.70 8.40
HM-21-02 2-3 184.00 186.00 2.00 0.51
HM-21-03 3-1 137.25 141.30 4.05 0.51
HM-21-03 3-2 160.25 161.25 1.00 2.81
HM-21-03 3-3 164.00 165.00 1.00 0.96
HM-21-03 3-4 194.00 195.00 1.00 31.59
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Figure 1: Location of Henning-Maloney Drill Holes
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Figure 2: Cross-section of Henning-Maloney Dill Holes
This is Searchlight ’s s econd successful drill program along the Rio fault system within the Bootleg
claims. In 2018, the Company drilled at the past-producing Rio Mine, located approximately 1 km north
of Henning -Maloney. Th at drill program verified the gold mineralization and confirmed that the
mineralization is present at least 150 m below surface. Highlights of the 2018 drill program included:
• 5.24 g/t gold over 4.0 metres including 12.24 g/t Au over 0.50 metres in DDH BL-01
• 2.09 g/t gold over 19.0 metres including 3.23 g/t Au over 8.0 metres in DDH BL-01
• 2.45 g/t gold over 5.0 metres including 3.84 g/t Au over 2.0 metres in DDH BL-02
Figure 3 shows the structural associations between the Henning-Maloney and Rio Mines, with both
targets occurring close to or at the intersections of the Rio Fault and north/south structures. Both
mines are also associated with structurally complex zones as defined by structural analysis. These
criteria identify multiple other drill targets within two kilometres of Henning-Maloney, including the
historic Wekach mine located two kilometres west along the Rio fault.
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Figure 3 – Location of Henning-Maloney and Rio Mines
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
Beatty South
In March 2021, Searchlight also completed a 207m drill hole at Beatty South, based on geophysical
surveys completed in 2020. The drill hole intersected three zones of iron sulphides (pyrite and
pyrrhotite), with no significant base metal assays corresponding to predicted geophysical targets. In
addition, a borehole electromagnetic (BHEM) survey was completed, and this shows a large off-hole
anomaly. The Company is evaluating these results and assessing future exploration along this 4km
zone of coincident magnetic and electromagnetic anomalies.
Quality Assurance and Quality Control (“QA/QC”) Program
The Company has implemented a quality control program to ensure best practices in sampling and
analysis of the core samples. The core is first logged and then sawn in half during the sampling
process, with half being retained for verification and reference purposes. During sample collection and
assaying, there is an established QC procedure using standards, duplicates and blanks. The samples
are then securely shipped to the TSL Laboratories (“TSL”) facility in Saskatoon, Saskatchewan,
Canada.
Sample Analysis
At TSL in Saskatoon the samples will be crushed and pulverized in preparation for analysis. The
samples will be analysed for gold using fire assay-gravimetric finish. In addition, all samples will be
analysed using the TSL multi-element package ICP-AES Aqua Regis for 29 additional elements.
Selected elements will be reanalysed if they exceed the ICP package limits. The coarse rejects and
pulps are kept in Saskatoon for re-assaying purposes and then returned to the Company’s storage site
where they will be stored for long term verification and reference.
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 gold and battery
minerals throughout the Province, concentrating on projects with road access.
Searchlight holds a 427.6 square kilometre land position within the gold and base metal rich Flin Flon -
Snow Lake Greenstone Belt. The Company is currently advancing its Bootleg Lake Gold Project which
hosts four past producing high-grade gold mines, located in Saskatchewan, less than 10 km from Flin
Flon, Manitoba.
TSXV : SCLT US : CNYCF | 604.331.9326 | 408-1199 West Pender Street, Vancouver, BC V6E 2R1 | searchlightresources.com
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 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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