Vancouver-based Lancaster Resources Inc. has successfully completed the acquisition of full ownership of the Lake Cargelligo Gold Project, marking a significant expansion of its exploration portfolio in Australia's renowned Cobar mining district.
Strategic Acquisition in Prime Mining Territory
The company confirmed that effective November 17, 2025, the mineral claim title for Exploration License 9775 is now held by Lancaster Gold Australia Pty Ltd., a wholly owned subsidiary established specifically to manage Australian operations. This transfer represents a major strategic move for the Canadian exploration company as it strengthens its international presence.
The Lake Cargelligo project encompasses approximately 62,300 hectares in total, with EL 9775 covering 28,768 hectares under a single exploration license. The property features multiple historical high-grade gold and silver occurrences identified through previous rock chip and channel sampling, as well as historical drilling activities.
Expanding Exploration Footprint
Beyond the recently transferred EL 9775, Lancaster Gold Australia has submitted ELA6970 for an additional 33,400 hectares, as previously announced on September 22, 2025. The company is currently awaiting final state approval for this substantial expansion that would further consolidate its position in the region.
Andrew Watson, P.Eng., President and CEO of Lancaster Resources, emphasized the importance of this development. "The completion of this title transfer represents a pivotal moment for our company," Watson stated. "Lake Cargelligo provides us with a district-scale exploration opportunity in one of Australia's most prospective mining regions."
Technical Oversight and Future Plans
Mr. Watson, who serves as the Qualified Person under National Instrument 43-101 standards, has reviewed and approved all scientific and technical information related to the acquisition. The company notes that while historical exploration results are considered relevant for planning purposes, they have not been verified by an independent Qualified Person and may not necessarily indicate current mineralization.
Lancaster Resources maintains a diversified global portfolio that includes the Lac Iris Polymetallic Project and an option to acquire the Trans-Taiga Project in Quebec's James Bay region. The company also holds the Piney Lake Gold Project and uranium projects at Catley Lake and Centennial East in Saskatchewan's Athabasca Basin.
The completion of the Lake Cargelligo title transfer positions Lancaster Resources for an aggressive exploration program in 2026, with the company planning to leverage historical data while implementing modern exploration techniques across the extensive property.
