corporate presentation focus on high grade gold …...feb 02, 2021 · wapawekka lake cu, au grass...

FEBRUARY 2021

SCLT:TSXV

US:CNYCF

SEARCHLIGHTRESOURCES.COM

CORPORATE PRESENTATION

FOCUS ON HIGH GRADE GOLD

IN SASKATCHEWAN

SCLT TSXV SEARCHLIGHTRESOURCES.COM2

Forward Looking Statements

All statements in this document regarding exploration projects for Searchlight Resources Inc. (“Searchlight”, or “SCLT"), other than

statements of historical fact, are "forward-looking information" with respect to Searchlight within the meaning of applicable Canadian

securities laws, including statements that address future mineral production, reserve potential, exploration drilling, the current or future

price of commodities, potential quantity and/or grade of minerals, potential size of a mineralized zone, potential expansion of

mineralization, the timing and results of future resource estimates, or other study, proposed exploration and development of our

exploration properties and the estimation of mineral resources. Forward-looking information is often, but not always, identified by the use

of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "project", "predict", "potential", "targeting", "intends",

"believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases, or state that certain actions,

events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. These statements involve known and

unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Searchlight to differ

materially from those anticipated in such forward-looking information. Stephen Wallace, PGeo., is the designated qualified person for

Searchlight within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this

document for the Searchlight exploration projects.


Company Highlights

• Saskatchewan, Canada – Exploration and Development in one of the

best jurisdictions for mining investments in the world.

• Major focus on High Grade Gold in known Saskatchewan

gold camps, geology similar to Red Lake and Abitibi Gold

camps in Ontario, but underexplored.

• Experienced management, involved with discovery of

multiple mines, collectively raised over $250 million and with

decades of experience in Junior exploration management.

• Skilled exploration team continually evaluating low acquisition

cost opportunities in Saskatchewan, including gold, copper, zinc,

cobalt, vanadium, rare earths, technology elements targets.

• Bootleg Lake targets an extensive gold system with 4 past

producing gold mines and extensive underground workings.


Why Saskatchewan?

Safe Jurisdiction, World Class Geology, Cooperative Government and Experienced Work Force

• Saskatchewan has a long mining history with operating gold, copper, zinc, uranium, diamond

and potash mines.

• High grade gold in Saskatchewan. Seabee Mine produced 112,137 ounces gold in 2019 at an average

gold mill feed grade of 9.56 g/t.

• The Fraser Institute rated Saskatchewan the #1 jurisdiction for mining investment in Canada

in 2020.

• Government support including cash for drilling rebate from Saskatchewan government.

• Saskatchewan and Canadian Federal governments provide technical

and financial assistance for exploration in the Creighton – Flin Flon area.

• Straight-forward, responsive and timely permitting.

• Excellent exploration and development infrastructure

and workforce throughout province.


Searchlight Resources

Strategic Opportunity-Flin Flon• The Flin Flon Renewal: Gold and Copper Potential

• 30 copper mines including three giant deposits developed by HudBay have created major infrastructure to process base metals and gold but HudBay has run out of ore and Flin Flon is scheduled to go on care and maintenance next year

• Searchlight controls over 300 square kilometers of land with four past producing gold mines and numerous copper drill targets within trucking distance of Flin Flon with plans for immediate drilling

• Development timeframe to cash flow shorter than elsewhere

• Searchlight accumulated land in the down market cycle and is poised to benefit from a new commodities bull market

Project Commodity Stage Highlights Next Phases of ExplorationDrill

Targets

Bootleg Lake AuAdvanced

exploration 4 Past producing gold mines, 7 km south of Flin Flon

Drill at Henning-Maloney

Reopening Rio Mine Yes

Flin Flon North Cu, Zn, Au Drill readyVolcanogenic Massive Sulphide (VMS) drill target

within 15 km of Flin Flon and 777 Mine

Ground geophysics

Diamond DrillingYes

Reef Lake Ni, CuAdvanced

exploration

27 drill holes including

0.66% Ni and 0.28% Cu over 9.8m

Prospecting

UAV geophysics

Wapawekka Lake Cu, Au Grass Roots

347 sq.km of Wapawekka Belt Greenstone Belt

covered by new government VTEM survey

Geophysics Interpretation

Geological Compilation

Duddridge LakeCo, Cu,

V, U

Advanced

explorationJanice Lake style target, Red Bed Copper, Cobalt,

Vanadium

UAV Geophysics

Boulder tracing & MMI

Kulyk LakeRare

Earths

Early stage

exploration

World class results -

greater than 50% REE oxides

Mapping & trenching

UAV geophysicsYes

Hanson LakeRare

MetalsGrass roots Large system of Be, Ga, Rb, Ce, Sn, Li mineralization

Geological mapping

and sampling


Searchlight Projects


Drilling 2021

Two 2021 drill programs planned in the Flin Flon Area

– 20km apart

Beatty South VMS Target

• VMS – Copper, Zinc, Gold target

• 15 km northwest of Flin Flon, 150 m from Highway 106

• Initial drill target based on geophysics

Henning-Maloney High Grade Gold Target

• Drilling to test and verify past producing gold mine area

• 1964 drilling intersected 4.5 oz/ton over 1.5 feet

• 7 km south of Flin Flon, 600m from major road.

BOOTLEG LAKE

HIGH GRADE GOLD IN

SASKATCHEWAN

LARGE GOLD SYSTEM WITH 4 PAST

PRODUCING UNDERGROUND MINES

DRILL READY TARGETS

EXTENSIVE MINE WORKINGS



Bootleg Lake Summary

• Located in Saskatchewan less than 10 kilometres from the World Class Mining Center of Flin Flon.

• Opportunity to consolidate multiple gold deposits in the Flin Flon area into one large gold project.

• Located in the Flin Flon – Snow Lake Greenstone Belt, one of the most prolific minerals belts in the world.

• 54 square kilometres of claims with main claims in good standing until 2038.

• Covers four past producing high-grade gold mines, from the 1930’s to 1980’s and multiple gold showings.

• Primary near term focus is:

• Henning-Maloney Mine with high grade gold mineralization at surface, and

• Rio Mine with over 1,500 metres of underground workings.

• Drilling planned for 2021 at Henning-Maloney Mine.


Bootleg Lake Claims

Location Location Location

• 54 square kilometres of claims

• Main claim blocks in good standing until 2038

• Road access to Creighton and Flin Flon

• Electrical power runs through claims

• Municipal water at northern edge of claim block

• Flin Flon is a major mining centre with required

mining infrastructure

• Airport in Flin Flon with regular scheduled flights

• Skilled workforce with local training centre

• 4 Sites to feed a central mill


Four Past Producing

Gold Mines

1 Rio Mine

• Developed in the 1980’s with mill and 1,500 m of

underground workings but closed in 1990 prior to

production due to low gold prices. Mill site reclaimed,

with underground workings still in place for reopening.

2 Henning Maloney

• Operated 1933 to 1941, shaft to 49 metres.

• Historical zone outlined, 200 feet along strike,

5.3 feet wide grading 0.50 oz/ton gold.

3 Newcor

• Operated 1931 to 1949, inclined shaft to 440ft with

4 levels.

4 Wekach

• Operated 1934 to 1935, single shaft in 3,000 ft long

shear zone, 0.53 oz/ton over 6ft in shaft.

Historical Estimates of Bootleg Lake Deposits

Deposit CategoryTons

Reported

Tonnes

Calculated

Oz/Ton

Reported

Grams/tonne

Calculated

Au Ounces

Calculated

Bootleg

(Rio) Reserves 183,871 166,800 0.35 12.0 64,355

Henning

Maloney Proven 15,000 13,600 0.45 15.4 6,750

Possible 43,000 39,000 0.16 to 0.32 5.5 to 11.06,880 to

13,760

Newcor Proven 42,500 38,600 0.31 10.6 13,175

Probable 156,000 141,500 0.31 10.6 48,360

1) All historical estimates above were prepared by Vista Mines Inc, in 1983 through 1987.

2) Note the historical estimate used the terms historical reserves, historical proven and possible reserves and historical proven and probable reserves were prepared before

the introduction of National Instrument 43-101-Standards of Disclosure for Mineral Projects. These historical estimates are considered relevant as the Company uses

historical reports to evaluate historic mines as a guide to plan future exploration programs. The assumption, parameters and methods used to calculate these historical

resource estimates are not known to the Company. The qualified person has not made any attempt to re-classify the estimates according to current NI 43-101 standards

and CIM definitions. In order for these resources to be current, the Company will be required to conduct additional drilling on the Bootleg Property. The Company is not

treating this estimate as current mineral resources or mineral reserves as defined in NI 43-101. Although the historical resource estimate was designated as “reserves”,

it cannot be compared to current mineral reserves as it is not supported by at least a current pre-feasibility study.

3) Data source - ASSESSMENT REPORT ON THE 2014 DIAMOND DRILLING PROGRAM, CREIGHTON PROPERTY DOUGLAS,

BOOTLEG, PHANTOM AND WEKACH LAKE AREAS LARONGE MINING DISTRICT CREIGHTON, SASKATCHEWAN, by

NEW MOON MINERALS CORPORATION by Anthony Spooner, P. Geo., Flin Flon, MB, August 31, 2016.


Rio Mine Site

• 1,500 metres of underground workings to 120 metres below surface.

• Electricity within 700 m and municipal water within 2.4 km of Rio Mine Site.

• Easy driving access from Flin Flon.


Rio Gold Mine – 1980’s

RampArea

Mill

Road to Creighton


Bootleg Lake – Rio Mine Timeline

1931-1940

Henning-Maloney Gold

Mines sunk a shaft

to 50 m

1940-41

Henning made several ore

shipments including 352 tons

reported to contain 331 oz Au

1980

Flin Flon Mines Ltd

conducted a 46-hole

diamond drill program

totaling 11,352 m

1982

Flin Flon Mines Ltd started a

ramp decline to a depth of

350 ft. (106.7m)

A 300 ton per day mill

was installed

1986

Vista Mines Inc.

(“Vista) acquires

Rio Mine

1987

Vista opened decline to

explore the lower mine

levels and to allow

drilling to update the

reserves

1988

Vista ships a 20,000 ton

bulk sample that

averaged 4.11 g/t gold,

deemed uneconomic

with low 1988 gold prices

1989

Vista went bankrupt after

hostile takeover

1990

Full mine closure and

reclamation. Portal

entrance covered.

2018

Drilling by Searchlight

extends deposit to 240

metres below surface

2020-21

Planned reopening of

ramp for exploration and

development

Rio Mill 1984 Rio Ramp 1984 Rio Ramp and Mill 1984 Rio Mill 2019

Drill Hole

NumberZones

From

metre

To

metre

Width

metreAu g/t

DDH BL-01 180.0 184.0 4.0 5.24

including 181.0 184.0 3.0 6.55

including 181.0 181.5 0.5 12.24

DDH BL-01 213.0 232.0 19.0 2.09

including 216.0 224.0 8.0 3.23

including 223.0 224.0 1.0 7.65

DDH BL-02 180.0 183.0 3.0 1.34

Including 181.0 1820 1.0 2.04

DDH BL-02 208.0 210.0 2.0 1.54

Including 208.0 209.0 1.0 2.24

DDH BL-02 222.0 227.0 5.0 2.45

including 223.0 227.0 4.0 2.94

including 223.0 225.0 2.0 3.84

DDH BL-02 291.9 295.0 3.1 1.08

Including 294.0 295.0 1.0 1.75

DDH BL-03 197.0 200.0 3.0 0.77

Including 199.0 200.0 1.0 1.44

Note: All widths reported are drill intersected core lengths

and do not represent true widths


Rio Mine – 2018 Searchlight Drilling

Purpose of drilling was two-fold

• to confirm gold mineralization.

• to test mineralization beneath known mineralization

in underground workings.

• Confirmed minable ore grades over minable widths

including 19 m zone in DDH BL-01.

• Confirmed gold mineralization below workings to at

least 200m below surface.

Drilling Highlights

• 5.24 g/t gold over 4.0 m including 12.24 g/t gold over 0.5 m



• Four ore grade zones intersected in DDH BL-02

Three NQ Diamond Drill Holes totaling

933m completed in March 2018


Rio Mine – 2018 Drilling

Drill Section

Note: Underground

working projected

onto plane of drill holes.


Future Exploration –

Bootleg Lake

Opportunity for Multiple High-Grade Mines to Feed

a Single Centralized Mill at Rio Mine

Henning Maloney

• Near term drill target on known high grade zone outlined in drilling and

underground sampling

• Historical zone outlined, 200 feet along strike, 5.3 feet wide grading

0.50 oz/ton gold.

Wekach

• Field work to determine exact location of mine and 3000 ft shear zone

for drill targeting.

• Grades to 0.53 oz/ton Au over 6.0 ft in shaft

Rio Fault System

• Rio, Henning Maloney and Wekach Mines are Structurally-Controlled

Mesothermal Lode Gold deposits related to the Rio fault.

• Located at intersection of the Rio Fault with north/south structures.

• Rio Fault runs 4 kilometres from east of Rio Mine to west of Wekach Mine.

• Multiple target intersections that have not been explored.


Henning-MaloneyUAV Magnetometer

Survey

DDH From To Interval Au Description

metres metres metres g/t

2-64 53.3 53.9 0.6 8.23 Footwall quartz vein zone in strongly silicified diorite. Qtz vein, 5% combined py, po, cp Five gold

intersections

over 24.6m

57.6 58.8 1.2 1.37 Main shear zone, strongly silicified and carbonatized diorite. With qtz-carbonate stringer

66.1 66.8 0.7 5.49 Main shear zone as above, py seams and qtz stringer

73.6 74.1 0.5 1.37 Moderately silicified diorite with qtz stringer

77.6 77.9 0.3 2.74 Unaltered diorite, blue qtz vein with minor py

3-64 24.2 24.4 0.2 11.66 Strongly chloritized and moderately silicified diorite or andesite inclusion. White qtz stringer

32.1 32.4 0.3 5.49 Strongly silicified, weekly foliated diorite. Qtz stringer with visible gold

4-64 6.6 7.2 0.6 1.37 Alerted diorite with 0.30 m quartz

5-64 7.2 8.0 1.0 11.65 Weakly silicified and chloritized massive diorite with blue qtz vein. Visible gold. Rerun of sample ran 20.57 g/t Au

8-64 30.8 31.3 0.5 0.34 Strongly carbonatized, moderately silicified and chloritized diorite. 15% white qtz stringers, locally with visible

gold. Reruns of sample ran 0.34, 4.80 and 6.51 g/t Au

9-64 9.8 10.2 0.4 2.06 Chloritized and moderately to strongly silicified diorite,10% white qtz stringer Four gold

intersections

over 16.1m

22.6 23.3 0.7 6.17 Main shear zone, moderately silicified, strongly chloritized diorite. 10% blue-grey quartz carbonate stringers.

Coarse disseminated py

23.3 23.8 0.5 154.29* Main shear zone as above. Schistose andesite inclusion. 20% blue grey qtz, 2% py, trace cp. This sample is

reported as a check assay. Original sample not reported.

25.6 25.9 0.3 8.23 Moderately to strongly silicified diorite. Minor py


Henning-Maloney

1964 drilling Selected 1964 Drill Results


Henning-Maloney – 1940’s

Henning-Maloney Mine

Abandoned Head Frame

Early 1940’s Air Photo

Mine and Mill

MineCamp

Road toCreighton


Flin Flon North

Exploring for VMS deposits in the Flin Flon –Snow Lake Greenstone Belt one of the most prolific VMS belts in the world.

• Searchlight competed new airborne survey in 2019, highlighting multiple VMS and gold targets

• First target to be tested is Beatty South VMS target

• Within 15 km of the Hudbay mine, mill and smelter complex. $billion


Beatty South Drill Target

Beatty South drill target, with surface expression of Maxwell Plate, overlaying Total Magnetic Intensity (TMI) from 2020 UAV Magnetic Survey.

View from Beatty South drill target area along Highway 106 to the Hudbay mine, mill and smelter complex, approximately 15km away.

CORPORATE

INFORMATION


SEARCHLIGHT


Corporate Information

Stephen Wallace P.Geo. President, CEO and Director

Mr. Wallace has 35 years experience in the Mineral Exploration and

Development industry from field geologist to President, CEO and

Corporate Director, employed with Junior through Major companies and

government agencies. Mr. Wallace has been the director and executive

of multiple public companies including the founding President and CEO

of Castle Resources. He was VP Exploration of Trade Winds Ventures,

advancing the Block A gold deposit to over 4 million ounces, which was

subsequently bought by Detour Gold for $84 million and will become

Detour Gold’s planned West Detour open pit mine in 2023.

Brian Crawford, CPA, CA CFO

Mr. Crawford has over 30 years experience as a senior financial

executive of private and public corporations. A former partner in a

national firm of chartered professional accountants, Mr. Crawford is

currently the CFO, Corporate Secretary and a Director of several

Reporting Issuers.

Capital Structure

Shares Outstanding 76,978,568

Options Outstanding 7,050,000

Warrants Outstanding 37,133,080

Shares Fully Diluted 121,161,648

Management Ownership 12.2%


Company Directors

Alfred (Alf) Stewart, B.SC. Geology, MBA Chairman, Director, VP Corporate Development

Alf Stewart, has a career spanning over 40 years in the resource and investment industries. Mr. Stewart’s career includes time spent

as a geologist, stock exchange regulator, investment banker, analyst and investment advisor.

Mr. Stewart has worked for such firms as Bank of Montreal, Esso Minerals, Erickson Gold Mining, Canaccord Capital, Haywood

Securities, Golden Capital, and Raymond James. He has been involved in financing mining companies for over twenty-five years,

including discoveries in the base and precious metals sectors.

Peter A. Ball Independent Director

Mr. Ball brings close to 30 years of experience as a mining professional at all levels of leadership. Throughout Mr. Ball’s career,

he has held various senior management roles with international precious metals mining companies in corporate finance, securities

trading, mine engineering, business development, corporate communications, public relations and marketing functions worldwide.

Mr. Ball began his career in the late 1980s working as a mining engineer, a technical representative, and in various management

and senior executive roles for numerous companies including Redstar Gold, Columbus Gold, Hudson Bay Mining & Smelting,

Echo Bay Mines Ltd., RBC Dominion Securities, Eldorado Gold Corp., Adriana Resources Inc., and Argentex Mining Corp.

Mr. Ball is currently President, CEO and Director of NV Gold Corporation, is a graduate of the Haileybury School of Mines,

Georgian Business College, UBC’s Canadian Securities Course, and is a member of CIMM.


Company Directors

John Kerr, P.Eng. Geologist Independent Director

Mr. Kerr graduated from the University of British Columbia in 1964 with a Bachelor of Applied Science (BASc) degree in Geological

Engineering. He has participated in the mining industry continuously since graduation as an exploration geologist. Successful ventures

include recognition and discovery of the Santa Fe gold mine, identification of the Calvada gold mine, and discovery of the Mindora

gold/silver deposit, all located in Nevada.

Mr. Kerr has served as a director of numerous public companies and is currently a Director of Quaterra Resources (TSX.V: QTA)

Eureka Resources (TSX-V:EUK) and Bravada Gold Corp (TSX-V:BVA).

Peter Dueck P.Geo. Independent Director

Mr. Dueck has been involved in the resource exploration industry since 2001, working with a variety of gold, copper, zinc and uranium

companies. Until early 2018, he held the position of Chief Geophysicist for Hudbay Minerals Inc. in Flin Flon, Manitoba. In addition, Mr.

Dueck was President of Pioneer Aerial Surveys Ltd., a wholly owned subsidiary of Global UAV Technologies Ltd., which provides a full

spectrum of Unmanned Aerial Vehicle (UAV) based services and products. He was a founder of Aerial Imaging Resources Inc. (AIR), a

UAV-based geophysical survey company acquired by Global UAV in 2018 and is currently the Principal Geophysicist and CBO for the

Axiom Group.

Mr. Dueck holds a B.Sc. in Geophysics from the University of Saskatchewan as well as an MBA from the University of Wales. His MBA

Dissertation is titled: “Tracking the Cyclical Valuation of the Canadian Junior Resource Sector” focusing on long term exploration trends

and strategies in contrast with commodity prices.


Summary

• Searchlight has a compelling portfolio of mining

assets in the best mining jurisdiction in Canada

• Gold Development can be expedited due to

brownfields mine site, extensive underground

• workings and nearby mining center

• Bulk tonnage mining concept can be developed

with modest resources similar to Atlantic Gold

• Flin Flon mining camp is the best copper mining

district in Canada but has been neglected by

• HudBay and other companies

• Recent discovery in the district is likely to attract

investor interest to Searchlight

SCLT:TSXV

US:CNYCF

SEARCHLIGHTRESOURCES.COM

#408 – 1199 West Pender Street

Vancouver, BC V6E 2R1

604.331.9326

[email protected]

corporate presentation focus on high grade gold …...feb 02, 2021 · wapawekka lake cu, au grass...

Documents