Lancaster Granted Exploration License at Lake Cargelligo Gold Project

Core Viewpoint - Lancaster Resources Inc. has received final approval for an Exploration License for the Lake Cargelligo Gold Project in New South Wales, Australia, marking a significant step in the company's growth strategy [1][2]. Project Details - The Lake Cargelligo Gold Project covers over 28,768 hectares under a single Exploration License (EL 9775) for Group 1 Minerals, valid for four years until March 26, 2029 [1]. - The project is located in the Cobar mining district, known for its rich mineral deposits, and is strategically situated 60 km from the producing Mineral Hill Mine [5]. Exploration Plans - Lancaster plans to comply with a minimum exploration commitment of AUD $82,500 (approximately $74,000 CAD) over the four-year term of the license [2]. - The exploration program in Q3 2025 will focus on identifying gold mineralization, updating geological and geophysical maps, and conducting surface geochemical sampling and drilling [3]. Historical Results - Historical sampling from the project has shown high-grade results, including up to 204 g/t Au and 273 g/t Ag from rock chips, and channel sampling results of up to 16m @ 5.83 g/t Au and 7.20 g/t Ag [5]. Management Insights - The President and CEO of Lancaster expressed optimism about the timely approval of the Exploration License, viewing it as a crucial step towards unlocking shareholder value and advancing exploration financing [7].