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Searchlight Resources Shares Up 12.5% – Defines New Rare Earth and Uranium Targets at Kulyk Lake

Searchlight Resources Inc. (“Searchlight” or the “Company”) (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2) is pleased to announce the initial…

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This article was originally published by Resource World

Searchlight Resources Inc. (“Searchlight” or the “Company”) (TSXV:SCLT)(OTC PINK:CNYCF)(FSE:2CC2) is pleased to announce the initial results of the high-resolution aeromagnetic and radiometric surveys on the Company’s 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

  • Radiometric thorium data highlight Kulyk Lake high-grade Rare Earth Element showing
  • Using thorium as REE pathfinder, a 3-km long REE exploration target is outlined
  • Significant, previously unknown uranium target is outlined with radiometric data

In September 2021, Special Projects Inc. of Calgary, Alberta, completed high-resolution aeromagnetic and radiometric surveys covering approximately 39 sq km of the Kulyk Lake claims (Map 1). Preliminary radiometric results have outlined significant new thorium and uranium targets, in addition to several historical REE, uranium and thorium showings.

Searchlight uses thorium as a pathfinder for rare earth elements in the mineral monazite, which is the principal mineral in the known Kulyk Lake REE showing (Map 2). The highest thorium value from the radiometric survey (5.3 ppm) was located over the known Kulyk Lake REE trenches which yielded historical assays of 56.18% Total Rare Earth Oxides (“TREO”). Additionally, the radiometric survey identified the Kulyk Lake target as part of a larger anomalous thorium zone, at least 3 kilometres in length (Maps 2 and 4).

“These are excellent results from the radiometric survey, highlighting the known Kulyk Lake trench area, and tying it to a significant multi-kilometer thorium anomaly”, stated Stephen Wallace, CEO. “The results suggest a potentially large Rare Earth exploration target area”.

Uranium results from the radiometric survey were equally positive, identifying a significant new, previously unknown uranium target (Maps 3 and 5), as well as pinpointing known uranium showings, including the Eldorado showing with historical assays of 0.785 % U3O8. The newly identified anomalous uranium zone has multiple high values, ranging up to 5.74 ppm, the highest uranium value of this survey (Maps 3 and 5).

“The uranium results are strongest in an area where there are no previous uranium showings, and this New Anomalous Uranium Zone represents a priority target”, stated Stephen Wallace, CEO. “Though the Kulyk claims were staked for the Rare Earth potential, the Company will now add uranium to our follow-up exploration targets”.

Map 1. Flightlines for 2021 Airborne Magnetic and Radiometric Surveys, Kulyk Lake Project, with Historical Showings

Map 2. Thorium (ppm) overlaid on Total Magnetic Intensity (nT), 2021 Airborne Survey, Kulyk Lake Project

Map 3. Uranium (ppm) overlaid on Total Magnetic Intensity (nT), 2021 Airborne Survey, Kulyk Lake Project

Map 4. Shaded Relief Map of Thorium from 2021 Airborne Survey, Kulyk Lake Project, with Historical Showings, and newly identified 3-km long anomalous thorium zone

Map 5. Shaded Relief Map of Uranium from 2021 Airborne Survey, Kulyk Lake Project, with Historical Showings, and the newly identified anomalous uranium zone

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.

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
[email protected]

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 legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Author: Resource World

Precious Metals

Crypto roundup: Is Bitcoin entering a… crab market? FTSE developing crypto index

With the crypto market getting its cues and clues from macro forces, some analysts are predicting potential choppy sideways action … Read More
The post…

With the crypto market getting its cues and clues from macro forces, some analysts are predicting potential choppy sideways action and a clawing sense of uncertainty for Bitcoin in the next month or two.

At the time of writing, trading on the major US stock markets, as reflected by the S&P 500 market index, has opened without too much drama. In fact, the index is up more than one percentage point right now. A few more words from the US Federal Reserve chief Jerome Powell this week, though, and who knows what could happen.

As for the crypto market, it’s down about 2%  from this time yesterday, but in better shape than it appeared at the start of the weekend just passed.

Coin360.com

All coins in the top 10 by market cap, aside from Terra (LUNA), are within about a percentage point or so to the positive or negative compared with this time on Sunday. And the fact that Bitcoin (BTC) and Ethereum (ETH) are both looking a fair bit healthier than a couple of days ago, at present, is cause for at least some temporary encouragement.

LUNA, by the way, having mooned past Dogecoin into the top 10, has pulled back a little bit – a bit of buyer exhaustion there, perhaps. It’s currently down 8.5 per cent in the past 24 hours.

Perhaps hinting at the possibility this bull market ain’t done yet, there are the odd few double-digit gainers in the top 100 standing out today, including: OKB +13.8%; PancakeSwap (CAKE) +11.5%; BitTorrent (BTT) +15%; Basic Attention Token (BAT) +11%; and Ecomi (OMI) +10%.

 

A Bitcoin crab market?

Some analysts, though, aren’t particularly sold on the idea that the crypto bull market will kick back into gear any time soon – at least not necessarily this month. There are, however, more crystal balls floating about Crypto Twitter than a fortune-teller convention. Copious grains of salt always required.

But here are some of the better known analysts predicting a bit of a crab (sideways) market for the meantime, including self-described possible cyborg, Kevin Svenson…

The wunderkind on-chain data genius Will Clemente, meanwhile, added in an ultimately positive resolution to the chop…

… while his fellow on-chain guru, the Kiwi-born Willy Woo, believes the OG crypto is “trading at a decent discount”.

Scott “the Wolf of All Streets” Melker believe’s Bitcoin could well “drive people nuts” for months, however, as it potentially ranges between its recent low of about US$42k and about the US$53k mark.

And if that sideways action does actually take place, or even if things do take more of a tumble from here, you can probably put a decent bet on that certain usual über-bullish suspects will be buying the Bitcoin dip. Heavily.

One of those will surely be El Salvador’s backwards-cap-wearing president Nayib Bukele, who provided the tweet of the month so far in response to the usual stuff from US gold bug Peter Schiff…

And lastly, for this section, a timely reminder from Benjamin “lengthening cycles, diminishing returns” Cowen about, well, a potential lengthening Bitcoin bull-market cycle…

 

Also making news: FTSE Russell developing broad crypto index

FTSE Russell, the company behind the benchmark index of the London stock exchange (the FTSE 100), is making a crypto move. A big one. Reports suggest that the firm is developing a crypto index containing 43 digital assets, to apparently sit alongside the FTSE 100 and Russell 2000 indexes.

FTSE Russell reportedly estimates that crypto will have a global market cap greater than US$3 trillion by 2025. Seeing as it’s more than two thirds of the way there now, true believers will probably view that as a somewhat conservative estimate.

The post Crypto roundup: Is Bitcoin entering a… crab market? FTSE developing crypto index appeared first on Stockhead.


Author: Rob Badman

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Karora Resources Strengthens Board with Appointment of New Australian-based Director Shirley In’t Veld

TORONTO, Dec. 6, 2021 – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce the appointment…

TORONTO, Dec. 6, 2021 – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce the appointment of Shirley In’t Veld to its Board of Directors effective immediately.

Paul Andre Huet, Chairman and CEO of Karora said, “”I am pleased to welcome Shirley In’t Veld to Karora’s Board of Directors. The addition of Shirley’s extensive experience as a senior executive and director in the Australian mining, renewables and energy sectors to our team further strengthens our Board and is a strong endorsement of Karora’s position as a premier gold producer. In particular, her experience as a former Director of Northern Star Resources (an Australian gold producer with World class projects located in Australia and North America), her in depth knowledge of Western Australia, and expertise in ESG matters will be a tremendous addition to our Board. We look forward to benefitting from Shirley’s input as we continue to unlock the full potential of our Australian operations.”

Shirley In’t Veld has over 30 years of career experience in mining, renewables and energy sectors. She is currently a Director of Alumina Limited, NBN Co Limited (National Broadband Network Co.) and APA Group. She was formerly Deputy Chair of CSIRO (Commonwealth Science and Industrial Research Organisation), Director of Northern Star Resources Limited, Perth Airport, DUET Group, Asciano Limited and Alcoa of Australia Limited and a Council Member of the Chamber of Commerce and Industry of Western Australia. She was also the Managing Director of Verve Energy (2007 – 2012) and, previously, served 10 years in senior roles at Alcoa of Australia Limited, WMC Resources Ltd, Bond Corporation and BankWest Perth.

In 2014, Shirley was Chair of the Queensland Government Expert Electricity Panel and a member of the Renewable Energy Target Review Panel for the Australian Department of Prime Minister and Cabinet. She also served as a member of the COAG Energy Council Selection Panel, a Council member of the Australian Institute of Company Directors (Western Australia) and the SMART Infrastructure Facility (University of Wollongong).

About Karora Resources 

Karora is focused on doubling gold production to 200,000 ounces by 2024 compared to 2020 and reducing costs at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations (“HGO”) in Western Australia. The Higginsville treatment facility is a low-cost 1.6 Mtpa processing plant, expanding to a planned 2.5 Mtpa by 2024, which is fed at capacity from Karora’s underground Beta Hunt mine and Higginsville mines. At Beta Hunt, a robust gold Mineral Resource and Reserve is hosted in multiple gold shears, with gold intersections along a 4 km strike length remaining open in multiple directions. HGO has a substantial Mineral gold Resource and Reserve and prospective land package totaling approximately 1,900 square kilometers. The Company also owns the high grade Spargos Reward project which is anticipated to begin mining in 2021. Karora has a strong Board and management team focused on delivering shareholder value and responsible mining, as demonstrated by Karora’s commitment to reducing emissions across its operations. Karora’s common shares trade on the TSX under the symbol KRR and also trade on the OTCQX market under the symbol KRRGF.

Cautionary Statement Concerning Forward-Looking Statements

This news release contains “forward-looking information” including without limitation statements relating to the growth potential of the Beta Hunt Mine, the results of exploration and development work, liquidity and capital resources of Karora, production guidance and the potential of the Beta Hunt Mine, Higginsville Gold Operation, the Aquarius Project and the Spargos Gold Project.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Karora to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Karora ‘s filings with Canadian securities regulators, including the most recent Annual Information Form, available on SEDAR at www.sedar.com.

Although Karora has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Karora disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Cautionary Statement Regarding the Higginsville Mining Operations
A production decision at the Higginsville gold operations was made by previous operators of the mine, prior to the completion of the acquisition of the Higginsville gold operations by Karora and Karora made a decision to continue production subsequent to the acquisition. This decision by Karora to continue production and, to the knowledge of Karora, the prior production decision were not based on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, which include increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse impact on the Corporation’s cash flow and future profitability. Readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.

www.karoraresources.com

SOURCE Karora Resources Inc.



Author: MikeyMike426

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Copaur Minerals Looks To Acquire New Placer Dome Gold In An All-Stock Deal

Copaur Minerals Inc. (TSXV: CPAU) announced on Friday evening a binding letter agreement stipulating its planned acquisition of all the
The post Copaur…

Copaur Minerals Inc. (TSXV: CPAU) announced on Friday evening a binding letter agreement stipulating its planned acquisition of all the issued and outstanding common shares of New Placer Dome Gold Corp. (TSXV: NGLD). The acquisition is expected to be settled in an all-stock deal.

The combination of the British Columbia-focused Copaur Minerals and Arizona-focused New Placer Dome Gold is said to “create a leading gold-copper exploration and development company with a portfolio of assets in two of North America’s foremost mining districts.”

Under the terms of the agreement, each New Placer Dome Gold share held will be exchanged for 0.1182 shares of Copaur Minerals, the ratio being a 55% premium on the 20-day average price of each company as of November 30, 2021.

The firm reported that after the transaction, New Placer Dome Gold will become a wholly-owned subsidiary representing 47% equity in Copaur Minerals and will be delisted from the TSX Venture Exchange. New Placer Dome Gold is also being proposed to get a minimum of two seats on the Copaur Minerals board, subject to the latter’s approval.

Currently, New Placer Dome Gold has approximately 170.4 million shares while Copaur Minerals has roughly 23.0 million shares.

In their latest quarterly financials dated September 30, 2020, Copaur Minerals recorded total assets worth $5.87 million and a net loss of $0.07 million while New Placer Dome Gold reported a total of $14.59 million in assets and a net loss of $0.08 million.

A concurrent financing by the two companies is in the pipeline as a condition to the transaction, with plans to raise gross proceeds of up to $15.0 million. Copaur Minerals will also lend New Placer Dome Gold $0.8 million in debt to fund the latter’s exploration work on the Bolo property. The loan is convertible to company units at $0.08 per unit at the sole discretion of Copaur Minerals.

The proposed transaction is expected to close in March 2022, subject to the approval of the shareholders of New Placer Dome Gold and customary regulatory approvals and closing conditions.

Copaur Minerals last traded at $1.16 while New Placer Dome Gold last traded at $0.085 on the TSX Venture. Trading for both shares has been halted since the announcement of the acquisition.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Copaur Minerals Looks To Acquire New Placer Dome Gold In An All-Stock Deal appeared first on the deep dive.




Author: ER Velasco

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