From GlobeNewswire: 2024-04-30 06:00:00

Lancaster Resources Inc. receives approval from the MMD for a Drill Permit at the Alkali Flat Lithium Project in New Mexico, marking a significant step towards the drilling program’s launch. The company aims to explore potential lithium brine deposits in subsurface aquifers identified through previous geophysical programs.

The MMD has deemed Lancaster’s application for the Alkali Flats Lithium Brine Phase 1 project as technically complete, allowing the company to move forward with the exploration program. A financial assurance instrument of USD $64,000 must be submitted for review before receiving the final Drill Permit for the project.

Geochemical sampling conducted by Lancaster last year revealed highly anomalous concentrations of lithium in playa sediments, supporting the presence of lithium-rich aquifers. The Alkali Flat Lithium Project targets a closed-basin brine deposit in a strategic location near major transportation infrastructure, positioning it as a promising exploration opportunity.

Closed basin brine deposits hold an estimated 58% of the world’s lithium resources, with the only active lithium production site in the U.S. located in Clayton Valley, Nevada. Lancaster’s emphasis on responsible exploration practices and commitment to proving the quality of potential lithium deposits sets the stage for successful drilling operations.

Lancaster Resources Inc., a key player in exploring lithium and critical minerals, focuses on the Alkali Flat Lithium Project in New Mexico. The company aims to produce Net-Zero Lithium using innovative DLE technology and solar power, highlighting a sustainable approach to mineral extraction and exploration. Collaborations with advanced technologies drive Lancaster’s exploration initiatives.



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