Targeting a New High-Grade Uranium Zone
• Highly prospective Uranium Zone identified from precision radiometric survey
Searchlight has increased its claim position to 317 sq. km in the Kulyk Lake area in the wake of a significant uranium-based staking rush in Saskatchewan. The new claims strengthen our position after the Company’s successful expansion of the Kulyk Lake REE target, and the discovery of a new Uranium Zone. The Kulyk Lake claim block has been expanded from 105.4 sq km to 317.1 sq km (Map 1). This block covers 38 Rare Earth, Uranium and Thorium showings. This includes the Kulyk Lake trenching, which yielded results of 45.1% TREO and 10.08% CREO over 0.6 metres, and 24.44% TREO and 5.49% CREO over 0.7 metres. (Note: TREO = Total Rare Earth Oxides and CREO = Critical Rare Earth Oxides which is the sum of Pr6O11 + Nd2O3 + Tb4O7 + Dy2O3.)
Searchlight used Special Projects Inc. of Calgary to survey part of the Kulyk Lake property using low level precision radiometrics, LIDAR and magnetics.
The Kulyk Lake Uranium Project is located approximately 165 kilometres north of La Ronge, Saskatchewan and 65 km south of the Key Lake Uranium Mine. Kulyk Lake sits in the Wollaston Domain, a belt of crystalline basement rocks which are the basement rocks underlying most of the uranium mines in the eastern Athabasca Basin.