Lancaster Resources Inc. (CSE:LCR | OTCQ:LANRF | FRA:6UF0) announced on October 23, 2025, that it has engaged Resource Potentials Pty Ltd, a prominent geophysical consulting firm based in Australia, to reprocess existing geophysical data and assist in the design of forthcoming geophysical programs at its wholly-owned Lake Cargelligo Gold Project located in New South Wales.
This collaboration will focus on the reprocessing and interpretation of historical airborne and ground geophysical datasets, aimed at enhancing the geological understanding of the Lake Cargelligo region. The insights gained from this initiative are expected to directly influence Lancaster”s ongoing field exploration efforts, shape the design of future ground and airborne surveys, and refine drilling targets set for the spring of 2026.
“Partnering with Resource Potentials reinforces our technical capabilities at Lake Cargelligo,” stated Andrew Watson, President and CEO of Lancaster Resources. “Their extensive expertise in Australian gold systems and geophysical analysis will expedite our journey toward drill-ready targets, ensuring our exploration initiatives are grounded in data and efficacy.”
Details of the Lake Cargelligo Gold Project
The Lake Cargelligo Gold Project is situated within the highly valuable Lachlan Fold Belt and encompasses roughly 62,300 hectares, consisting of one granted exploration license and one under application. Previous explorations in the area have uncovered several high-grade occurrences of gold and silver through rock chip sampling, channel sampling, and historical drilling.
Noteworthy historical findings include samples yielding up to 204 g/t Au and 273 g/t Ag from rock chips, alongside channel samples showing 16 meters with grades of 5.83 g/t Au and 7.20 g/t Ag. It is important to note that these results are historical and have not been verified by a Qualified Person under NI 43-101, and while relevant for exploration, they do not guarantee mineralization on the property.
Initial Field Program Initiatives
Lancaster”s initial field program will encompass geological mapping, rock chip sampling, soil geochemistry, and updated geophysical surveys. This comprehensive approach aims to refine geological models, identify high-priority drill targets, and support a systematic exploration strategy across the project area.
The company is dedicated to upholding high standards for technical reporting and responsible exploration as it advances its portfolio of gold and critical mineral assets in Australia.
About Resource Potentials
Resource Potentials is a consultancy located in Western Australia, specializing in geophysical data analysis and exploration targeting. With a solid history of contributing to successful mineral discoveries, the firm offers significant regional expertise and modern interpretation techniques to the Lake Cargelligo project.
Additionally, Lancaster Resources has announced that Daniel Kang has resigned from the Board of Directors, effective immediately. The Board expresses gratitude for Mr. Kang”s long-term contributions and dedication to the company and wishes him success in his future endeavors. The company is in the process of identifying a new director and will provide updates accordingly.
For inquiries, Andrew Watson, President and CEO of Lancaster Resources Inc., can be reached at [email protected] or by phone at 604 923 6100. For more information, visit www.lancaster-resources.com.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements: Certain statements in this release constitute forward-looking information, relating to future events or the future performance of Lancaster. Terms such as “could,” “expect,” “believe,” “will,” “projected,” and similar expressions are intended to identify forward-looking information based on current beliefs or assumptions regarding timing and outcomes of future events. Actual results may differ materially from those anticipated. Readers are advised against placing undue reliance on forward-looking information. Lancaster disclaims any intention or obligation to publicly update or revise forward-looking information, except as required by applicable securities laws.
