Searchlight Resources samples 1.35% Cobalt at Cameron Project
TSXV: SRCH
Suite 408 – 1199 West Pender Street • Vancouver, B.C. • V6E 2R1
TEL (604) 331-9326 • FAX (604) 684-9365
Searchlight Resources samples
1.35% Cobalt at Cameron Project
• 3 historic shafts, 4 pits and 7 trenches mapped on property
• Sample R318936 assayed 1.35% Co
• Sample R318939 assayed 0.63% Co, 0.864% Ni and 341 ppb Au
Vancouver, British Columbia, January 09, 2019 - Searchlight Resourc es Inc. (“Searchlight” or
the “Company”) (TSX-V: SRCH) is pleased to announce the results of the October 2018
prospecting on the 100% owned Cameron Cobalt Project located in Brigstocke Township
approximately 20 kilometers southwest of the town of Cobalt, Ontario and 120 kilometers north
of North Bay, Ontario.
In October 2018 a team of prospectors spent 4 days prospecting and sampling the 100% owned
Cameron cobalt target area at the north end of Brigstocke Lake. The team located and mapped
the locations of 3 historic shafts, 4 pits and 7 trenches , with waste dumps near the workings .
The area was largely over grown, and it is likely more features exist. See map 1 below.
A total of 40 grab samples were collected from the area, the majority from waste dumps and
outcrop exposed in shafts a nd pits. The results included a number of anomalous samples with
selected samples shown in the table 1 below. The results include 1.35% Co in sample R318936
and 0.63% Co, 0.864% Ni, 341 ppb Au and >2,000 ppm Bi in sample R318939.
“The Searchlight team is encouraged by these high-grade cobalt results, it is always gratifying to
take a 100% owned grass roots project and quickly add value with high grade results. We are
now looking forward to following up as s oon as the s now i s gone .”, notes Stephen Wallace,
CEO and President of Searchlight.
Mr. Wallace, further stated “These results reinforce the value of Searchlight’s philosophy of
having quality early stage projects as part of the company’s portfolio and the Company will
continue to seek out this style of projects.”
Cameron Cobalt Project - Selected 2018 Grab Samples
Sample Au ppb Bi ppm Co ppm Co % Ni ppm Cu ppm
029139 <0.5 2.89 639 0.064 57 265
R318920 <0.5 74.2 1,140 0.114 64 21
R318925 <0.5 31.2 1,010 0.101 186 867
R318926 <0.5 38.7 884 0.088 57 15
R318935 14 9.25 1,010 0.101 66 617
R318936 71 53.2 13,500 1.350 497 57
R318937 7 3.67 145 0.015 19 2,330
R318938 134 > 2000 3,400 0.340 5,000 129
R318939 341 > 2000 6,300 0.630 8,640 592
R318949 55 > 2000 457 0.046 547 31
R318950 47 283 4,700 0.470 788 62
Table 1: Selected 2018 Cameron Grab Samples
Map 1: Location of shaft, pit and trenches on Cameron claims
The Ca meron claim block consists of 6 4 claim units covering an area of 1,024 hectares in
Brigstocke Township approx imately 20 kilometers southwest of Cobalt, Ontario and 120
kilometers north of North Bay, Ontario. See Map 2 below. The claims are 100% owned by
Searchlight with no royalties.
Map 2: Location of Cameron Claims
The Cameron claims cover the past exploration pits and shafts of the Cameron target
developed in the 1950’s which is now closed. A grab sample collected in 1987 from the
historical Cameron pits and analyzed by the Ontario Geological Survey returned assay values of
2.26% C o and 1.7 g/t Au. (Data Source is file MDI31M05SW00021 from the Ontario Mineral
Deposit Inventory).
Geologically the Cameron Cobalt property is located within the Cobalt Embayment in the
Southern Province of the Canad ian Shield where Huronian Supergroup sedimentary rocks lay
unconformably overly Archean basement rocks. Both the Huronian sediments and Archean
rocks have been intruded by Proterozoic -aged Nipissing diabase occurring as both sills and
dykes.
The Cameron property claims covers the contact between the Proterzoic sediments of the
Lorrain and Gowganda formation of the Huronian Supergroup and the intrusion of the Nipissing
Diabase. The mineralization model for the property is the “Five Element Vein ” style of
mineralization (Co -Ag-Ni-Bi-As), which is characteristically found with 250m of the diabase
contact. This is the characteristic cobalt silver mineralization found throughout the Cobalt and
Silver Centre mining camps.
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 inform ation contained in this
news release.
About Searchlight Resources Inc.
Searchlight Resources Inc.(“Searchlight” or the “Company”) is a mineral exploration and
development company listed on the Toronto Venture Exchange (TSXV). The company is active
with mineral exploration projects in Saskatchewan, Ontario and Nevada, three of the top seven
jurisdictions in the world for mining investment as ranked by the Fraser Institute. The Company
holds a portfolio of gold, cobalt and base metal projects from grassro ots stage to advanced
exploration and NI43-101 resource development.
Saskatchewan – Gold and Base Metals
The Bootleg Lake project is 16,900 hectares of claims in Saskatchewan covering prospective
areas of the Flin Flon Greenstone belt. Exploration is bei ng carried out at the past producing
Newcor, Rio (Bootleg) and Henning Maloney Gold mines located approximately 5 kilometres
from Creighton Saskatchewan and about 7 kilometres from the Hudbay 777 mine located in
Flin Flon, Manitoba.
In addition, the Boo tleg Lake claims hold Volcanogenic Massive Sulphide (VMS) base metal
potential with claims adjacent to the Hudbay Mines claims hosting the producing 777 base metal
and gold mine in Flin Flon and the four past producing base metal mines, Flexar, Birch Lake,
Amisk and Coronation.
Ontario – Copper, Cobalt, Nickel & Gold
1) The Munro Warden project is an early stage exploration prospect targeting VMS copper,
nickel and cobalt within the Kidd - Munro assemblage of the Abitibi Greenstone Belt. The project
covers 1,100 hectares including 9 mining lease and 11 claims blocks located approximately 90
kilometres east of Timmins, Ontario.
2) The Cameron project is a grassroots cobalt, gold exploration prospect located 25
kilometres southwest of Cobalt, Ontario with the highly prospective Cobalt Embayment
Nevada - Copper
Searchlight’s Nevada project New York Canyon hosts two copper deposits in the Walker Lane
Structural Belt located in western Nevada. The Long Shot Ridge skarn deposit with a 2010
NI43-101 resource estimate and the Copper Queen porphyry deposit drilled out by Conco in the
1970’s.
On behalf of the Board of Directors,
“Stephen Wallace”
SEARCHLIGHT RESOURCES INC.
Stephen Wallace, President, CEO and Director
Contact: Searchlight Resources Inc.
Investor Relations
(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 ma nagement’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
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forward-looking information.
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