Lake Cargelligo offers major exploration opportunities in the Cobar Mining District of New South Wales.
~28,768ha of gold claims, 100% owned by Lancaster.
Multiple depositional environments for gold mineralization. Both intrusive-related gold systems (IRGS) and lode-type on the property.
Historical geochemistry shows high-grade samples up to 204g/tonne-Au and 273g/tonne-Ag.
Potential for a large-scale, multi-million-ounce company-making discovery.
Rapid drill exploration by Q3 2025.
Australia-based exploration team with over 60 years’ experience in discovery and mineral exploration.
Andrew Watson has 21 years of rich technical leadership, operations, corporate strategy, and commercialization experience in lithium, polymetallic deposits and ironstone, uranium, hydrogen, and conventional oil and gas production.
His experience includes working as COO of Prism Diversified, leading the technical development on two substantial battery metal critical mineral opportunities and spearheading the Lithium brine development opportunities on over 850 square miles of highly prospective brine resource. In addition, Andrew led the technical advancement of a 600mm T polymetallic ironstone deposit with gold, vanadium, and cobalt upside.
Penny White is an accomplished business leader with over 20 years of experience in the capital markets. As a Director of Lancaster Resources Inc., she brings a wealth of expertise and leadership to the company.
Penny has a diverse background, with experience in sectors such as mining, pharmaceuticals, and clean energy. She was an initial officer and director of a pharmaceutical company that was later acquired for $342 million, and was the Chairman of Highbury Energy for 10 years, overseeing the development of the company’s gasification technology and registration of a patent to create high-grade synthetic gas from biomass.
An Exploration Geologist with 20 years of experience in project generation and early-stage exploration for large-scale precious metal mineral systems. Rob has held senior management positions with major and junior listed and private companies exploring in Australia, Guinea, Mozambique, and Tanzania.
Rob has explored for epithermal, orogenic, and intrusion-related gold, porphyry copper-gold, Broken Hill-type lead-zinc-silver, iron oxide and iron sulphide copper-gold, magnetite-hosted vanadium-titanium, and nickel-copper-PGM. Rob is a Founding Director of private exploration companies including MRG Resources Pty Ltd, Liberation Resources Pty Ltd, Orogen Metals Pty Ltd, Sunbird Resources Pty Ltd, and Bougainville Gold Pty Ltd. Rob is a member of AusIMM, MAIG, and SEG.
Ross Brown has 40+ years’ experience in mineral exploration since graduation in 1984. Ross has worked in different terrains and outcrop conditions in Australia, Asia, Africa, and South America. Experiences in a broad range of commodities, including precious metals (gold, silver, PGE’s), base metals (copper, nickel, lead, zinc), battery/green metals (lithium, graphite, vanadium), uranium, and diamonds.
Ross has led as managing director for two listed junior explorers, and founded/co-founded numerous exploration companies that have been bought by listed exploration companies or achieved listing status in their own right. Ross is a member of AusIMM since 1988, and is a member of GSA and SEG.
Stable, supportive government and communities, skilled workforce and established infrastructure. Straightforward permitting.
New South Wales is 2nd largest gold producer in Australia, yet large areas have seen minimal use of modern geophysics and exploration techniques.
Australia is the world’s second-largest producer of gold, accounting for roughly 13.8 million ounces-Au yearly².
Targeting large-scale, bulk minable mineralization lying under shallow cover within a premier Australia gold district.
PROPERTY:
Lake Cargelligo: 28,768ha
100% Lancaster
UPSIDE ATTRIBUTES:
Large Land position in sought after active mining area
Proximal to existing gold mines
1.66Moz-Au Tomingley
Expected 30-50koz-Au/yr at Mineral Hill
Easy, all-season access to property
Multiple targets on claims with significant strike length
Large scale IRGS mineralization as sheeted vein & breccias
Shallow oxide, lode-style, Au-Ag mineralization
Shallow/surface colluvial deposits with free gold
Up to 204g/t-Au and 273g/t-Ag in historical sampling program
No modern magnetics, IP, or VTEM work completed over project area
Past drilling has shown gold mineralization in multiple zones, but only small area tested
State Highway and Railway run through the property
Exclusive acquisition rights on ~28,768ha
Similar Geology to Tintina Gold Area in Alaska
Past operators identified large scale geochemical anomalies on claim block that were not drill tested for IRGS
Additional claims available for Exploration
Large scale, structural faulting along granite-sedimentary contact (~25km strike length) with widespread Au-Te-Bi-As-Mo-Sb anomalies
Regional basin includes the large Tomingley Mine and Mineral Hill Mine
Highly analogous geology indicating intrusion related gold system (IRGS) with potential for large scale multi-million ounce bulk deposit
Orogenic lode style mineralization, intrusion related overprint, similar to the 1.66Moz Tomingley deposit
Sedimentary lithology intruded by Silurian granodiorite and S-type Ungarie Granite
Exploration focus on ~18km contact zone between Ungarie granite and sedimentary rocks in southern half of mineral claim (Eastern Contact Zone)
8 identified targets for exploration programs, at different stages
Significant geochemical enrichment and quartz veining-breccia in sedimentary units along Ungarie granite contact zone
Confirmed outcropping of mineralized veins support IRGS model
Regional residual gravity mapping indicated the Central Lachlan Fold Belt granites is underlain by large gravity lows suggesting deep seated granite batholithic roots
Regional gravity gradients strike north/northwest
Secondary northeast/northwest structural orientations coincide with known Gold enrichment and mineralization
Lake Cargelligo lies to the south of the Erimeran Granite batholith which is surrounded by known sediment hosted Au deposits
Mineral Hill
Overflow
Mallee Bull
Nymagee / Hera
Magnetics indicates strike extensions to the Josephine Moulder Fault and potential repeat structures undercover as well as numerous magnetic anomalies prospective for large-scale IRGS mineralization.
Rock chip sampling shows excellent gold and silver grades:
204g/t Au + 273g/t Ag (grab)
104g/t Au + 100g/t Ag (grab)
68.4g/t Au + 55.80g/t Ag (grab)
Significant amount of historical surface soil and auger sampling done
Peak results:
2.26g/T-Au
2.25g/T-Ag
11ppm Bi
330ppb Te
Numerous, widespread, multi-element pathfinder anomalies (Te–Bi–As, etc)
Pathfinder response, along geological contact, indicates strong support for IRGS-type mineralization
Very few geochemical anomalies tested with drilling, restricted to outcrop areas
Limited Drilling results show wide zones of IRGS mineralization
High grade mineralization in Oxide Zone (up to 5.2g/T Au)
Only one drill hole tested fresh bedrock
2025
Josephine Moulder Area (JM, JM North, and Mount Wilga)
Acquire and reprocess historical geophysics
Field geochemical and geology program
New 43-101 Tech Report
Targeted Q3 2025 drilling program
2026
Josephine Moulder Area
Detailed magnetics, IP, or VTEM Geophysics
Drilling (RC and DD):
Test shallow oxide zone along outcropping veins
Assess large scale sheeted vein and breccia for IRGS mineralization
~30 holes
Maiden Resource Estimate
Western Contact Zone
Field geochemical and geology program
Avoca and North Quarry
Field geochemical and geology program
Northwest Structural Zone
Field geochemical and geology program
$400,000 CAD @ $0.02/sh
Acquisition – ~$15k
Geophysics – ~$100k
Geochemistry – ~$30k
Drilling – ~$120k
Corporate – ~$135k
Advance high impact gold project to initial exploration drilling by early Q3 2025
$2,000,000 CAD @ $0.10/sh
Geophysics – ~$475k
Geochemistry – ~$75k
Drilling (RC+DD) – ~$1.05M
Corporate – ~$395k
Historical datasets
The property sits within the Glennie Domain and mafic to mafelsic lithology
Tabbernor fault and shear zone is just to the east of the property
The lithology of property is basic volcanic, quartz diorite-tonalite to granodiorite, and quartz-diorite
Nearby historical geochemical sampling indicates past gold showings to the north on a north-south trend
7.55g/T – Au (~375m)
7.3g/T – Au and 11.4g/T – Ag (~1400m)
8.52g/T – Au (~2.75km)
41.35g/T – Au (~4.1km)
The general area was explored for gold in the 1990’s by Placer Dome Mines and 2010–2012 by Thurloe Gold Syndicate
2013 North Arrow Minerals announced diamond discovery just to the west of claims
2014 Alto Minerals explored the area focusing on diamond and kimberlite intrusions
