Lancaster Resources Completes Maiden NI 43-101 Technical Report at Lake Cargelligo Gold Project, Australia - Milestone Achieved As Gold Hits $4,300 per ounce

Core Insights - Lancaster Resources Inc. has completed and filed its maiden National Instrument 43-101 Technical Report for the Lake Cargelligo Gold Project in New South Wales, Australia, coinciding with a surge in gold prices to an all-time high of US$4,300 per ounce, indicating strong global demand for exploration assets in stable jurisdictions [1][2][3]. Company Overview - Lancaster Resources Inc. is a Canadian exploration company focused on advancing a portfolio of critical mineral and gold projects in established mining jurisdictions, holding a 100% interest in the Lake Cargelligo Gold Project, which spans over 62,300 hectares [8][10]. Technical Report Highlights - The independent NI 43-101 Technical Report, prepared by Geos Mining, emphasizes the strong geological potential of the Lake Cargelligo Gold Project and outlines a clear roadmap for future exploration [5][6]. - Historical drilling results indicate significant exploration potential, with channel intercepts reported up to 16 meters at 5.83 grams per tonne (g/t) gold and 7.20 g/t silver, and rock sampling showing up to 204 g/t gold and 273 g/t silver [9]. - The report identifies multiple mineralization opportunities, including large-scale shear-hosted gold mineralization and orogenic-style gold hosted by quartz veins [9]. Exploration Strategy - The company plans to advance its exploration program, which includes recommendations for a Phase I exploration program involving geophysics, geochemistry, and initial drilling [9].