Significant Opportunities Seen at Lancaster Resources' Alkali Flat Lithium Project
Significant Opportunities Seen at Lancaster
Resources' Alkali Flat Lithium Project
Vancouver, British Columbia--(Newsfile Corp. - August 17, 2023) -
Lancaster Resources Inc. (CSE:
LCR) (OTC Pink: LANRF) (FSE: 6UF0)
("
Lancaster
"), is very pleased to announce the filing of annual
renewals of BLM claims as part of the Alkali Flats option agreement to acquire a 100% interest in the
Alkali Flat Lithium Project.
The annual filing with the BLM includes the original 67 claims for the Project
along with a significant addition of 193 claims under the Area of Interest provisions under the option
agreement.
These 260 claims build out a contiguous mineral placer claim asset base over the heart of
the Alkali Flats playa near Lordsburg, New Mexico.
Spanning ~5,200 acres, the claims cover the majority of the Alkali Flat playa and present
significant
exploration opportunities on leases with surface sediment concentrations up to ~149ppm Lithium.
"The potential for net zero or near zero lithium extraction from the Alkali Flat Lithium Project in New
Mexico is exciting. With Direct Lithium Extraction technologies advancing to commercial scales and the
feasibility of solar power in New Mexico, we're optimistic about sustainably powering a Lithium DLE
project," says Lancaster VP of Engineering Andrew Watson. "The renewal of our expanded claim
package sets us up for geophysical MT surveys and a maiden drilling program, where we hope to
identify and sample lithium bearing subsurface brine for this promising lithium project."
Lithium is a critical mineral to produce electric vehicle batteries and a host of other
applications that are propelling the global shift towards decarbonization and renewable
sources of energy.
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
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/177571