"The approval of our maiden drilling application is confirmation of our commitment to responsible, minimal impact exploration and the last major hurdle before launching our maiden drilling program at Alkali Flat," says
Pursuant to §19.10.3.302 NMAC, the MMD has determined that the application for the Alkali Flats Lithium Brine Phase 1 exploration project, submitted to MMD in
Lancaster will now submit a financial assurance instrument, such as a letter of credit, for USD
Lancaster’s exploration work at Alkali Flat last year included geochemical sampling, which yielded highly anomalous concentrations of lithium in playa sediments (with a range of 69.6 to 147.9 ppm Li), a UAV-bourne detailed magnetometry (drone) survey, and a Magneto-Telluric (MT) geophysics program, which revealed highly anomalous conductivity in aquifers 100 - 200 metres deep and 650 - 750 metres deep. The combined results highlighted multiple high-priority drill locations believed to host lithium-rich aquifers.
Closed basin brine deposits contain an estimated 58% of the world’s lithium resources. The only location of lithium production currently active in
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Lancaster Resources (CSE:LCR | OTCQB:LANRF | FRA:6UF0) is engaged in exploring lithium, and other critical minerals.
Lancaster’s project portfolio includes 100% ownership of the Piney Lake Gold Property in
penny@lancasterlithium.com
Tel: 604 923 6100
www.lancaster-resources.com
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.
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