- Searchlight Resources Inc. (SCLT) has completed its initial prospecting program on the Kulyk Lake Rare Earth Element Project
- the program was designed to follow up airborne anomalies identified by the 2021 survey documented in the Kulyk Lake area
- 18 grab samples were taken and confirmed the results of the 2021 survey
- Also revealed was an extension to a known pegmatite vein swarm
- Searchlight Resources Inc. (SCLT) is down 9.52 per cent and is trading at $0.09 per share as of 4:36 p.m. ET
Searchlight Resources Inc. (SCLT) has completed its initial prospecting program on the Kulyk Lake Rare Earth Element Project in Saskatchewan.
According to the company, the program was designed to follow up on airborne anomalies identified by the 2021 survey documented in the Kulyk Lake area.
The prospecting program included 18 grab samples and confirmed the results of the 2021 survey. It also revealed an extension to the known pegmatite vein swarm identified by previous work.
“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,” Stephen Wallace, Searchlight’s CEO, said.
The grab samples will be submitted to the Saskatchewan Research Council laboratory in Saskatoon for complete analysis. Additionally, geologists visited the Fanta Rare Earth Element showing and collected samples for detailed chemical analysis, petrographic studies, and preliminary metallurgical testing.
The Kulyk Lake project covers 349 square kilometres and is 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.
Searchlight Resources Inc. (SCLT) is down 9.52 per cent and is trading at $0.09 per share as of 4:36 p.m. ET.