PR Announce Piney Lake Gold Property Acquisition
April
10,
2024
Lancaster
Resources
Acquires
Piney
Lake
Gold
Property
Vancouver,
British
Columbia
-
Lancaster
Resources
Inc.
(CSE:LCR
|
OTCQB:LANRF
|
FRA:6UF0)
(“
Lancaster”
or
the
“
Company
”
)
,
a
North
American
critical
minerals
exploration
company,
is
excited
to
announce
the
acquisition
of
the
Piney
Lake
Gold
Property.
Property
Overview
The
Piney
Lake
Gold
Property,
covering
an
area
of
2,267.8
hectares,
is
nestled
approximately
65
kilometres
east
of
La
Ronge
Provincial
Park
and
a
mere
2.5
kilometres
east
of
North
Arrow
Minerals'
Pikoo
property.
Encircled
by
the
prolific
gold
claims
of
SGO
/
SSR
Mining,
the
Piney
Lake
claim
is
in
a
region
with
a
storied
history
of
mineral
discoveries.
Access
to
the
Piney
Lake
property
is
facilitated
by
provincial
highways,
placing
it
about
18
kilometres
to
the
southwest
of
Pelican
Narrows
via
Highway
135
and
similarly
accessible
to
Deschambault
Lake
via
Highway
911.
The
Company
acquired
the
property
by
staking
claims
directly
in
Saskatchewan,
Canada.
Management
cautions
that
mineralization
hosted
on
adjacent
and/or
nearby
properties
is
not
necessarily
indicative
of
the
presence
of
similar
mineralization
or
geology
on
Lancaster’s
properties.
Geological
Significance
Piney
Lake
is
strategically
positioned
within
the
Glennie
Domain,
an
area
known
for
its
mafic
to
mafelsic
rock.
The
property
is
characterized
by
basic
volcanics,
quartz
diorite-tonalite
to
granodiorite,
and
quartz-diorite
lithology,
suggesting
rich
potential
for
gold
mineralization.
Notably,
the
Tabbernor
fault
and
shear
zone
lie
just
past
the
eastern
border
of
the
property.
Geochemical
Highlights
Historical
geochemical
samplings
for
Piney
Lake
mention
significant
gold
showings
identified
along
a
north-south
trend.
These
include
concentrations
of
7.55g/T
Au
approximately
375
meters
north,
and
an
impressive
41.35g/T
Au
approximately
4.1
kilometres
north,
among
others.
These
findings
underscore
the
high-grade
gold
potential
awaiting
Lancaster's
exploration
team
and
the
use
of
modern
exploration
techniques.
Exploration
Legacy
The
area
around
Piney
Lake
has
seen
very
limited
recent
exploration
activities.
Placer
Dome
Mines
in
the
1990s
and,
more
recently,
the
Thurloe
Gold
Syndicate
between
2010
and
2012
were
the
more
recent
forays
in
the
area.
North
Arrow
Minerals'
discovery
of
diamonds
in
2013,
followed
by
Alto
Minerals'
exploration
in
2014,
emphasizes
the
properties’
mineralization
and
exploration
upside
for
gold,
copper,
and
other
minerals.
"The
acquisition
of
the
Piney
Lake
Gold
Property
is
an
exciting
project
to
add
to
our
growing
exploration
portfolio,”
says
Penny
White,
President
and
Chief
Executive
Officer
of
Lancaster.
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.
Mr.
Watson
is
VP,
Engineering
and
Operations
and
a
Director
of
Lancaster
Resources
Inc.
About
Lancaster
Resources
Inc.
Lancaster
Resources
(CSE:LCR
|
OTCQB:LANRF
|
FRA:6UF0)
is
engaged
in
exploring
lithium
and
uranium
and
other
critical
minerals.
Its
Alkali
Flat
Lithium
Project,
in
Lordsburg,
New
Mexico,
USA,
involves
the
exploration
of
a
below-surface
lithium
brine
target.
Lancaster’s
goal
at
Alkali
Flat
is
to
produce
Net-Zero
Lithium
through
the
use
of
direct
lithium
extraction
(DLE)
technology
and
solar
power.
Lancaster
is
also
collaborating
to
deploy
advanced
satellite
hyperspectral
acquisition,
geospatial
data
aggregation,
and
AI-driven
predictive
modelling
services
exploration.
Lancaster
holds
a
100-per-cent
interest
in
the
Catley
Lake
and
Centennial
East
Uranium
projects
in
the
Athabasca
basin
in
Saskatchewan,
Canada.
Lancaster’s
project
portfolio
includes
100%
ownership
of
the
Piney
Lake
Gold
Property
in
Saskatchewan
and
rights
to
acquire
the
Trans-Taiga
Lithium
Property
located
within
the
James
Bay
lithium
district
of
Quebec.
It
also
has
a
minority
interest
in
Nelson
Lake
Copper
Corp.,
an
unlisted
reporting
issuer
which
owns
100-per-cent
of
the
Nelson
Lake
Copper
Project
in
Saskatchewan,
Canada.
Lancaster
is
in
the
process
of
divesting
a
majority
of
its
ownership
in
Nelson
Lake
through
a
spin-off
transaction.
Guiding
Lancaster's
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
exploration
projects
across
Canada,
the
American
West,
Mexico,
and
South
America.
Penny
White,
President
&
Chief
Executive
Officer
Lancaster
Resources
Inc.
Email:
Tel:
604
923
6100
Website:
www.lancaster-resources.com
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
obtain
financing
and
maintain
ownership
of
its
portfolio
of
properties
by
meeting
payment
and
expenditure
requirements.
the
ability
of
Lancaster
to
execute
its
exploration
plans,
obtain
exploration
and
drilling
permits,
raise
capital,
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.
The
Canadian
Securities
Exchange
has
not
reviewed,
approved
or
disapproved
the
contents
of
this
news
release.