Lancaster Resources Initiates Groundwork for Gold Project Report
Lancaster Resources Starts Field Work for Technical Report on Gold Project
Vancouver, British Columbia – Lancaster Resources Inc. (CSE:LCR | OTCQ:LANRF | FRA:6UF0) is excited to announce the commencement of essential desk and field work at the Lake Cargelligo Gold Project. This project, owned 100% by the company, represents a significant milestone as it marks the first steps toward producing a National Instrument 43-101 (NI 43-101) Technical Report.
Situated in the renowned Lachlan Fold Belt, the Lake Cargelligo Project spans 28,768 hectares and is known for its historical occurrences of high-grade gold and silver. The initial phase of exploration includes reconnaissance mapping and rock chip sampling, which are vital processes for refining exploration targets and setting the stage for a focused drilling program.
Importance of the NI 43-101 Report
“Launching field operations at Lake Cargelligo is a turning point for Lancaster,” expressed Andrew Watson, President and CEO. “The technical report will be pivotal in shaping our exploration approach, steering us towards defining resources and enhancing value for our investors.”
While previous assessments have shown promising results, including rock chip samples with grades up to 204 g/t of gold and 273 g/t of silver, these findings are yet to be verified by an accredited expert. They nonetheless highlight the project's potential and will be focal points in the forthcoming exploration campaign. Lancaster aims to finalize the Technical Report by the end of the month.
Investor Relations Enhancements
In alignment with its mission to enhance shareholder communication, Lancaster Resources confirms its engagement with Ora IR Services Inc. for investor relations support. This partnership will facilitate customer service management and provide comprehensive support through various channels. In appreciation, Lancaster has issued an aggregate of 1,800,000 stock options, each exercisable at $0.10 per share, and will offer a monthly cash compensation estimated between $10,000 and $20,000.
Geoff Skinner, principal consultant at Ora IR Services Inc., will lead this initiative, and his contact details are available for any inquiries regarding investor relations.
Current Updates on Exploration Claims
The company is currently awaiting updates from SIGEOM and the Quebec Ministry concerning the Lac Iris claims, which are in the processing stage.
Andrew Watson, P.Eng., who serves as President, CEO, and Director of Lancaster Resources, is recognized as a Qualified Person under the National Instrument 43-101. He has reviewed and approved the scientific and technical details shared in this announcement.
About Lancaster Resources Inc.
Lancaster is dedicated to developing a robust portfolio of exploration assets that are strategically positioned for future resource development. The company's holdings include the Piney Lake Gold Project in Saskatchewan, uranium exploration projects in Catley Lake and Centennial East, and the Lac Iris Polymetallic Project situated in Quebec’s James Bay area. In Australia, Lancaster’s Lake Cargelligo Gold Project encompasses over 25 km of prospective strike spread across three main target zones.
For further inquiries, you may contact Andrew Watson at andrew@lancasterlithium.com or reach out via telephone at 604 923 6100.
Frequently Asked Questions
What is the significance of the NI 43-101 Technical Report?
The NI 43-101 Technical Report is essential for guiding Lancaster's strategy in mineral exploration, ensuring systematic assessments of potential resources.
When is the Technical Report expected to be completed?
Lancaster aims to complete the Technical Report by August 31, 2025.
What types of support is Ora IR Services providing?
Ora IR Services will assist Lancaster with investor relations through customer service management and efficient communication channels.
Where is the Lake Cargelligo Gold Project located?
The Lake Cargelligo Gold Project is strategically sited within the Lachlan Fold Belt, known for its mineral wealth.
How can I contact Lancaster Resources for more information?
You can get in touch with Andrew Watson via email at andrew@lancasterlithium.com or by phone at 604 923 6100.
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