Thursday, September 14, 2023

Vancouver, British Columbia based Lancaster Resources Inc. (CSE: LCR) (OTC Pink: LANRF) (FSE: 6UF0) announced results from its Magneto-Telluric (MT) geophysics program at Lancaster's Alkali Flat Lithium Project located in Lordsburg, New Mexico, USA. The MT program targeted highly conductive stratigraphic units (layers) to further delineate drill targets in a highly prospective area on the NE part of the property.

According to the release, KLM Geoscience successfully completed the detailed MT program including data acquisition and inversions. The MT survey consisted of three east-west lines with ~500m spacing between receivers and lines.

The MT results along with Lancaster's recent exploratory and geochemical results have highlighted multiple high priority drill locations believed to host lithium-rich aquifers. Results indicate a near surface low resistivity layer ~150m deep along with a deeper low resistivity layer at ~660m sub-surface. Results also confirm the N-S trending basin continues from Arizona Lithium claims through Lancaster's property.

Lancaster Resources is engaged in exploring energy transition metals to take advantage of the global shift towards decarbonization and electrification. It has an interest to acquire 100% of the Alkali Flat Lithium Project, in Lordsburg, New Mexico, USA, which involves the exploration of a below-surface lithium brine target.

Shares are trading down 2 cents at $0.12