PR Acquire Claims
Lancaster
Resources
Acquires
High-Impact
Uranium
Claims
in
Athabasca
Basin
Vancouver,
British
Columbia
–
February
27,
2024:
Lancaster
Resources
Inc.
(CSE:LCR)
(OTCQB:LANRF)
(FRA:6UF)
(“
Lancaster
”),
Lancaster
Resources,
a
North
American
critical
minerals
exploration
company,
is
excited
to
announce
the
acquisition
of
two
high
impact
mineral
claims
in
the
world-class
Athabasca
Basin.
The
two
claims
are
targeting
high
grade
uranium
in
basement
and
unconformity
type
deposits.
The
two
properties,
called
Catley
Lake
and
Centennial
East,
at
3,036
hectares
and
5,081
hectares
respectively,
provide
significant
exploration
opportunities.
These
strategic
acquisitions
bolster
Lancaster's
commitment
to
discovering
critical
minerals
in
support
of
the
energy
transition.
The
Catley
Lake
&
Centennial
East
mineral
claims
are
located
immediately
adjacent
to
Cameco’s
Centennial
deposit
claim
block
in
the
south-central
area
of
the
Athabasca
basin.
The
Centennial
deposit,
which
is
approximately
11km
west
of
Lancaster’s
Centennial
East
claim,
was
the
first
significant
high-concentration
uranium
deposit
located
along
the
Snowbird
tectonic
boundary.
The
Centennial
deposit
has
shown
assays
up
to
8.78%
U
3
0
8
over
33.9m
below
the
Athabasca
sandstone
and
Virgin
River
unconformity
from
a
Cameco
drill.
Concentrations
of
U
3
0
8
up
to
25.6%
were
seen
over
0.5m
in
a
drillhole
assay
(SMDI-2758).
Approximately
24km
southwest
of
Lancaster’s
claims
is
the
Cameco
Dufferin
deposit.
Dufferin
has
shown
assays,
from
drilling,
up
to
1.73%
U
3
0
8
over
6.5m.
The
Dufferin
deposit
also
shows
numerous
intervals
of
uranium
mineralization
within
the
sandstone
and
unconformity.
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.
Lancaster
is
planning
to
progress
exploration
on
the
claims
with
new,
modern
technologies,
to
identify
favourable
geology,
structures,
and
corridors
that
could
host
high
concentrations
of
uranium.
"We
are
truly
excited
to
embark
on
this
strategic
advancement
of
LCR
to
acquire,
explore,
and
develop
critical
mineral
opportunities,"
said
Andrew
Watson,
VP
Engineering
and
Operations
of
Lancaster
Resources.
"With
the
rapidly
increasing
demand
for
clean
energy,
storage,
and
electrification
of
our
energy
systems,
adding
a
clean
fuel
source
like
Uranium
to
our
exploration
pipeline
is
an
ideal
step.
These
assets,
in
a
world
class
deposit
like
the
Athabasca
basin,
in
underexplored
areas,
will
allow
us
to
leverage
our
technical
team
and
partners
modern
exploration
techniques
to
find
and
unlock
the
next
high
concentration
unconformity
type
uranium
deposit
in
Saskatchewan.
Lancaster
is
continuing
to
build
on
our
ability
to
develop
and
provide
critical
minerals
with
uranium
to
support
our
lithium
projects."
Alkali
Flat
Lithium
Brine
Project
Update
In
2023
Lancaster
identified
drilling
targets
for
lithium-rich
aquifers
~150
M
deep
and
~650
M
sub-surface
as
a
result
of
its
magneto-telluric
geophysics
program
at
its
Alkali
Flat
project
in
New
Mexico.
Lancaster
is
planning
a
maiden
drilling
program
to
commence
on
permitting
approvals.
Archaeological
representatives
from
the
US
Bureau
of
Land
Management
(BLM)
were
on
site
last
week
for
site
review
and
cultural
resources
clearance.
This
review
is
an
essential
step
in
progressing
the
drilling
regulatory
process
for
approval
by
the
BLM
and
New
Mexico
Energy,
Minerals
and
Natural
Resources
Department
(EMNRD).
Lancaster
is
actively
working
with
both
regulators
for
drilling
approval,
which
is
expected
in
early
Q2
2024.
Andrew
Watson,
P.Eng.,
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
the
VP,
Engineering
and
Operations
for
Lancaster.
About
Lancaster
Resources
Inc.
Lancaster
Resources
(CSE:LCR
|
OTCQB:LANRF
|
FRA:6UF0)
is
engaged
in
exploring
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
with
Korr
Ai
Technologies
Inc.
to
deploy
advanced
satellite
hyperspectral
acquisition,
geospatial
data
aggregation,
and
AI-driven
predictive
modelling
servic
es
for
the
exploration
of
lithium,
uranium,
rare
earth
elements
(REE),
and
other
critical
minerals.
Lancaster
holds
a
100%
interest
in
the
Catley
Lalk
and
Centenniel
East
Uranium
project
in
the
Athabasca
Basin
in
Sasktachewan,
Canada.
Lancaster’s
project
portfolio
includes
rights
to
acquire
the
Trans-Taiga
Lithium
Property
located
within
the
James
Bay
lithium
district
of
Quebec
and
the
Nelson
Lake
Copper
Project
in
Saskatchewan,
Canada,
held
through
its
subsidiary
Nelson
Lake
Copper
Corp.
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.
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
Propety,
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.