Vancouver, British Columbia – September 27, 2023: Lancaster Resources Inc. (CSE:LCR) (OTC Pink: LANRF) (FRA:6UF0) (“Lancaster”), has submitted applications to the State of New Mexico Energy, Mines, and Natural Resources Department (EMNRD) and Bureau of Land Management (BLM) to drill up to three wells targeting both shallow and deep conductive layers on its Alkali Flat Lithium Brine Project near Lordsburg, New Mexico.
The targets were identified by Lancaster’s geological team following the success of Lancaster’s recent MT (Magneto-Telluric) Geophysics program which highlighted multiple highly conductive subsurface aquifers and zones of interest.
The application to the EMNRD includes the maiden drilling program and a parallel, but separate, application to the BLM covers both drilling access and a subsequent MT geophysics program over the entire claim.
“We are very excited about moving forward with drilling both the shallow and deep targets after our MT Survey showed very clear subsurface zones of interest with high conductivity. The identified targets show clear opportunities for large aquifers containing concentrated lithium brine,” says Andrew Watson, Lancaster Resources’ VP, Operations and Engineering. “We are expecting our first drill hole to allow us to collect brine samples, along with rock cuttings or core, from targeted intervals, allowing us to determine the concentration of lithium and other minerals.”
During the drilling program, rock cuttings, core, and brine samples will be collected from selected intervals, with assay results expected to be available shortly after drilling completion. Previous drilling applications on the playa, although not culminated in drilling, have set a procedural precedent that should aid in regulatory approval.
The MT program targeted highly conductive stratigraphic units (layers) to further delineate drill targets in a highly prospective area on the NE part of the 5,200 acre (2,100 Ha) property.
The MT results along with Lancaster’s recent exploratory and geochemical results have highlighted multiple high-priority drill locations believed to host lithium-rich aquifers. Results indicate a near-surface low resistivity highly conductive layer ~150m (490 ft) deep along with a deeper low resistivity highly conductive layer at ~760m (~2500 ft) subsurface. Results also confirm the N-S trending basin continues from adjacent claims to the north, through Lancaster’s property.
The planned drilling and exploration program is being designed with a focus on minimizing environmental impact. Measures have been put in place to mitigate effects on the playa environment, water courses, and any historical and cultural artifacts. In particular, precautions have been established to protect freshwater sources that might be encountered during drilling.
Andrew Watson, PEng, a qualified person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About Lancaster Resources Inc.
Lancaster Resources is engaged in exploring energy transition metals to take advantage of the global shift towards decarbonization and electrification. Its Alkali Flat Lithium Project, in Lordsburg, New Mexico, USA, involves the exploration of a below-surface lithium brine target. Lancaster’s goal is to produce Climate-Positive Lithium there using direct lithium extraction technology and solar power. Lancaster also has the rights to acquire a 100% interest in the Trans Taiga Lithium Property located within the James Bay lithium district of Quebec. Lancaster plans to conduct exploration activities with a holistic view of stakeholder interests. Recognizing the importance of the diverse interest of various stakeholders, the company considers the environmental, social, and economic impacts of its activities, aimed at balancing resource exploration with sustainable practices, cultural sensitivity, and fair benefit distribution. Guiding Lancaster Resources’ journey is a skilled management and technical team, with collective involvement in over 15 commercial mineral discoveries, and endowed with extensive experience in the creation of lithium brine targets and the exploration and development of Lithium projects across Canada, the American West, Mexico, and South America.
Penny White, President & Chief Executive Officer, Lancaster Resources Inc.
Tel: 604 923 6100
The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of
this news release.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events, or Lancaster’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, ”estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward- looking information and are based on Lancaster’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the ability of Lancaster to execute its exploration plans, ability to enter into a long form agreement for the acquisition of the Trans Taiga Lithium Property, retain key personnel, identify, acquire, explore, and develop high-quality mineral-rich properties and integrate sustainable energy sources and innovative technologies for climate-positive resource production constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information.
Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. Lancaster disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.