Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) has announced significant developments in its Alkali Flat Lithium Brine Project in Lordsburg, New Mexico, and strategic changes to its spin-off plan, with a new record date of February 5, 2024.
Lancaster’s Strategic Focus on Alkali Flat Lithium Project
CEO Penny White emphasizes that the Alkali Flat Project remains the central focus for Lancaster. The firm’s strategic moves, including the acquisition and upcoming spin-off of Nelson Lake Copper Project, bolster funding for lithium exploration in New Mexico.
Comprehensive Studies and Drilling Preparations
Lancaster has recently concluded several significant preparatory steps for the Alkali Flat Project:
– Completion of an in-depth geophysics and geology study.
– Selection and completion of an MT Survey by KLM Geophysics.
– Pinpointing of drilling locations informed by MT data analysis.
– Submission of regulatory drilling applications.
Key Regulatory and Drilling Milestones Ahead
With regulatory approvals anticipated early this year, Lancaster intends to initiate drilling operations aimed at confirming lithium concentrations. Discussions are underway with Direct Lithium Extraction (DLE) technology providers to ensure an efficient and eco-friendly lithium extraction process.
Nelson Lake Copper Corp. Spin-Off Details
In a significant strategic shift, Lancaster has set forth a spin-off transaction involving Nelson Lake Copper Corp. Shareholders of Lancaster as of February 5, 2024, will receive shares in Nelson Lake in a beneficial arrangement expected to enhance operational efficiency and shareholder value.
Lancaster’s spin-off plan includes the distribution of 1,000,000 common shares of Nelson Lake to current Lancaster shareholders and is contingent on shareholder and Supreme Court approvals.
About Nelson Lake Copper Corp.
Nelson Lake, a subsidiary of Lancaster established for staking copper claims in Canada, aims to pursue valuable sedimentary hosted copper exploration adjacent to known projects.
Lancaster Resources at the Helm
Lancaster Resources, a forward-thinking company in the battery and critical metals space, holds proprietary claims for the Alkali Flat Lithium Brine Project and the Trans-Taiga Lithium Property. With a seasoned management team, the company is set to ride the wave of decarbonization and electrification with its commitment to Net Zero Lithium production.
Penny White, Lancaster Resources Inc. CEO, continues to lead with strategic insight, driving the company towards achieving its vision in the lithium exploration sector.
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