
Lancaster Resources acquires High-Grade Lake Cargelligo gold project in Australia
23.4.2025
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4:30
Lancaster Resources Vice President of Engineering and Operations Andrew Watson joined Steve Darling from Proactive to announce the company has entered into a definitive Mineral Claim Purchase Agreement to acquire 100% ownership of the Lake Cargelligo Gold Project in New South Wales, Australia.
The project spans over 28,768 hectares under a single Exploration License Application and includes multiple high-grade gold and silver occurrences confirmed through historic rock chip and channel sampling, along with previous drilling. Those rock chips returning up to 204 g/t gold (Au) and 273 g/t silver (Ag).
According to Watson, the company sees this as a district-scale opportunity, with more than 25 km of prospective strike and three primary target zones already identified. Watson also noted that no modern geophysics has been applied to the property to date, making this an exciting greenfield opportunity for Lancaster. The company plans to deploy field crews in Q3 2025 to begin a comprehensive exploration program, which will include modern geophysical surveys, geochemical sampling, and drill targeting.
To support both the acquisition and upcoming exploration activities, Lancaster Resources also announced its intention to complete a non-brokered private placement to raise approximately $400,000. These funds will be directed toward finalizing the Lake Cargelligo acquisition and advancing the initial exploration campaign.
#proactiveinvestors #lancasterresourcesinc #cse #lcr #otcqx #otcqb #lanrf #lakecargelligogoldproject #gold #newsouthwales
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