Overview
Lancaster Assets (CSE:LCR,OTCQB:LANRF,FSE:6UF0) is a dynamic, junior exploration firm centered on growing the sources required for the worldwide transition to scrub power and electrification. The corporate intends to be one among North America’s first carbon-neutral lithium producers. To attain this, Lancaster plans to implement quite a lot of progressive applied sciences and practices, together with leveraging photo voltaic power in its manufacturing and growing a carbon-free course of for its operations.
Lancaster may also make full use of direct lithium extraction expertise (DLE), permitting it to recuperate nearly all of lithium from brine deposits with minimal environmental influence.
Lancaster’s Alkali Flat lithium challenge is a closed-basin deposit located in New Mexico, believed to be the following frontier for lithium. Notably, Alkali Flat additionally shows very comparable geology to Clayton Valley in Nevada, presently the positioning of the one producing lithium brine within the nation.
The corporate’s secondary lithium asset, the Trans-Taiga, is a lithium pegmatite property spanning 3,520 acres close to Patriot Battery Metals’ Corvette and Winsome Assets’ Cancet deposits.
Moreover lithium, the corporate additionally has two high-impact mineral claims within the world-class Athabasca Basin, focusing on high-grade uranium. The Catley Lake and Centennial East properties, spanning 3,036 hectares and 5,081 hectares, respectively, present important exploration alternatives. The Athabasca Basin in Saskatchewan, Canada hosts a number of the world’s largest and highest-grade uranium deposits and residential to a number of the largest mines, together with Cameco’s McArthur River and Cigar Lake uranium mines. Lancaster’s property are adjoining to Cameco’s Centennial deposit declare block within the south-central space of the Athabasca Basin.
Lancaster has accomplished its spin-off of the Nelson Lake Copperchallenge and its wholly owned subsidiary Nelson, which now operates as a separate firm that owns 100% of the Nelson Lake copper challenge consisting of 1 mining declare of 5,746 hectares in Saskatchewan.
In April 2024, Lancaster acquired the Piney Lake gold property which covers an space of two,267.8 hectares, and is nestled roughly 65 kilometers east of La Ronge Provincial Park and a mere 2.5 kilometres east of North Arrow Minerals’ Pikoo property.
Lancaster Assets is guided by a extremely skilled and revered technical staff.
Exploration marketing consultant Rodney Blakestad is a geologist with over 40 years of expertise in mineral exploration, having found a number of high-value deposits all through his profession together with Alaska’s largest working gold mine, Fort Knox. Gary Lohman additionally sits on the corporate’s advisory board, offering intensive experience in geological, geochemical and geophysical exploration methods.
With its collaborative settlement with KorrAI Applied sciences, a pioneer in hyper-spectral imaging, Lancaster can be redefining and enhancing the effectivity and accuracy of mineral exploration, significantly for lithium, uranium, uncommon earth components and different crucial minerals. This leading edge expertise successfully minimizes environmental influence, optimizes useful resource discovery, and accelerates manufacturing.
Lancaster Assets presently plans to amass a 100-percent curiosity in Alkali Flat, a lithium brine challenge that can function the corporate’s flagship. Situated within the Animas Valley close to Lordsburg, the 5,200 acre property can be bordered by Interstate 10. Historic analysis and geochemical information point out the presence of anomalous ranges of lithium, together with the second highest within the state..
Lancaster plans to guage potential direct lithium extraction companions as soon as it has taken and assessed brine samples from the positioning.
Highlights:
- Promising Geology: Hidalgo County, the area through which Alkali Flat is located, shows geology almost equivalent to Clayton Valley in Nevada, itself a hotbed of lithium mining and exploration.
- Extremely Potential Useful resource: Latest information on the positioning exhibits a variety in lithium focus of 69.6 to 147.8 components per million in 51 playa sediment samples. Moreover, Arizona Lithium, a serious Australian mining firm, has staked property instantly north of Alkali Flat. Exploration information launched by Arizona Lithium signifies a chargeability anomaly low within the decrease proper part of its declare.
- Present Exploration Plans: Lancaster intends to outline a closed basin brine with a commercially viable lithium deposit. The corporate obtained technical and administrative approval for its maiden drill program confirming the compliance of the appliance with the necessities of the Minimal Affect Exploration allow utility.
- Promising on the Outset: Alkali Flat was initially found by geologist Rodney Blakestad, who has a longtime historical past of figuring out extremely potential mineral claims..
- Favorable Laws: Along with being located in a mining-friendly jurisdiction, Alkali Flat will profit from the 2022 Inflation Discount Act. The tax incentives the act gives is about to significantly enhance demand for domestically sourced lithium.
Trans-Taiga Lithium Pegmatite Property
Lancaster has an unique possibility to amass 100% of the three,520-acre Trans-Taiga lithium pegmatite property in Quebec, situated between Patriot Battery Metals’ Corvette and Winsome Assets’ Cancet deposits. This underexplored but extremely potential property has large upside potential with entry to hydroelectric energy, offering clear, near-zero-carbon electrical energy. Lancaster plans to conduct floor exploration and a geophysics program in 2024.
Catley Lake and Centennial East Uranium Tasks
Acquired by Lancaster in February 2024, Catley Lake and Centennial East cowl 3,036 and 5,081 hectares, respectively, providing important exploration alternatives. The properties are roughly 23 kilometers to the northeast of Cameco’s potential Dufferin uranium deposit with assays of as much as 1.73 % U308 over 6.5 metres.
The Centennial deposit is the primary important focus of uranium within the Snowbird tectonic zone exhibiting assays of as much as 8.78 % U308 over 33.9 metres beneath the Athabasca sandstone and Virgin River unconformity. Concentrations of U308 as much as 25.6 % have been noticed over 0.5 metres in a drillhole assay.
Lancaster plans to progress the exploration of those claims utilizing new, fashionable applied sciences to establish favorable geology, buildings and corridors that would host excessive concentrations of uranium. These strategic acquisitions reinforce Lancaster’s dedication to discovering crucial minerals in assist of the power transition.
Piney Lake Gold Property
The Piney Lake gold property covers 2,267.8 hectares nestled roughly 65 kilometers east of La Ronge Provincial Park and a couple of.5 kilometers east of North Arrow Minerals’ Pikoo property. It’s surrounded by the prolific gold claims of SGO/SSR Mining in a area with a storied historical past of mineral discoveries. The Piney Lake property is accessible by provincial highways, putting it about 18 kilometers to the southwest of Pelican Narrows through Freeway 135, and equally accessible to Deschambault Lake through Freeway 911.
Historic geochemical samplings for Piney Lake point out important gold showings recognized alongside a north-south development. These embrace concentrations of seven.55 grams per ton (g/t) gold roughly 375 meters north, and a formidable 41.35 g/t gold roughly 4.1 kilometres north, amongst others. These findings underscore the high-grade gold potential awaiting fashionable exploration.
Administration Group
Penny White – President and CEO
Penny White is an achieved enterprise chief with over 20 years of expertise within the capital markets. As Lancaster Lithium’s president and CEO, she brings a wealth of experience and management to the corporate. White has a various background, with expertise in sectors like mining, prescribed drugs and clear power. She co-founded a pharmaceutical firm that was later acquired for $342 million and was the chairman of Highbury Vitality for 10 years, overseeing the event of the corporate’s gasification expertise and registration of a patent to create high-grade artificial fuel from biomass.
White has been acknowledged in PROFIT Journal’s W100 checklist of prime entrepreneurs and has raised over $50 million for corporations she has based. Along with her Regulation Diploma, Penny has accomplished the Oxford Main Sustainable Companies Programme and the Oxford Local weather Emergency Programme from Saïd Enterprise College, College of Oxford. She is deeply dedicated to combating local weather change and dealing in the direction of a extra sustainable future.
White believes that by taking good care of our planet, we are able to create a greater world for ourselves and future generations.
Andrew Watson – Vice-president of Engineering and Operations
With 22 years within the pure sources sector, Andrew Watson’s portfolio spans lithium brine initiatives in New Mexico and Alberta, exhausting rock pegmatites in Quebec, uranium, copper and gold initiatives in Saskatchewan, and polymetallic (Fe-V-Co-Au) challenge exploration and growth in Alberta. Watson has additionally had important success in oil and fuel and standard power, together with divesting quite a few corporations in oil and fuel in addition to gold, copper, and uranium.
His expertise consists of working as VP of engineering and operations for Lancaster Lithium, growing lithium brine and significant mineral properties.Earlier to that, Watson was COO of Prism Diversified, the place he led the technical growth of two substantial battery steel crucial mineral alternatives on over 850 sq. miles of extremely potential useful resource. Moreover, Watson is main the engineering and financial research for a floor polymetallic (Fe-V-Co-Au) ore physique with a deal with restoration applied sciences that decrease environmental influence.
Rick Huang – Chief Monetary Officer and Company Secretary
Rick Huang has been the CFO of Lancaster Assets for two years. He has over 15 years’ expertise as a director and officer in public corporations. Between 2012 and 2014, he chaired the compensation and company governance committee for Nice Northern Gold Exploration Company. For 11 years, from 2007 to 2018, he was the CFO of Hanwei Vitality Companies (TSX:HE), managing its finance, banking, and compliance departments. He has overseen accounting for subsidiaries in Canada, China, and Kazakhstan. His roles have encompassed investor relations, AGM preparations, and worldwide three way partnership negotiations. His expertise additionally spans roles at corporations like Pepsi Bottling Group (Canada) and Coca-Cola China. Huang has been concerned with Datable Expertise (TSXV:TTM) since Might 2015 and beforehand with Poydras Gaming Finance. (TSXV:PYD). He’s been a delegated CPA, CGA since 2005 and has an MBA from the College of Western Ontario in 2001.
Rodney Blakestad – Exploration Advisor
Rodney Blakestad is a extremely skilled consulting geologist with a profitable profession spanning over 40 years. All through his profession, Blakestad has been concerned within the discovery of quite a few commercial-grade deposits, together with the bulk-tonnage potential of the most important working gold mine in Alaska (Fort Knox, now at 10M ounces), the primary leached-cap porphyry programs found in Alaska (Taurus-Bluff and others), Cerro Caliche bulk-tonnage gold discovery close to Cucurpe, Sonora, Mexico, the Anderson Mountain and Purple Mountain VMS deposits within the Alaska vary, USA and quite a few volcanogenic huge sulfide deposits (VMS) within the Delta District, Alaska, USA. He has additionally found a number of gold placers in Alaska, USA.
Blakestad’s experience in minerals exploration was developed by his college schooling on the College of Alaska, the place he studied superior geochemistry, with particular topical research on gold geochemistry, the origin and transport of enormous gold particles and leached outcrop interpretation. Moreover, he has traveled all through western Canada, the US and Mexico finding out alteration facies and leached cap rocks of porphyry programs and a few gold deposits to tell apart between barren deposits and mineralized programs.
Along with his geological experience, Blakestad has a Juris Physician from the College of Denver Regulation College, the place he studied pure sources and environmental regulation. This background has led him to deal with brine lithium deposits that may be processed with minimal floor degradation, and water consumption, and use options to fossil fuels for all the restoration course of. Blakestad is an authorized skilled geologist with the American Institute of Skilled Geologists and a registered skilled geologist within the State of Alaska. He has additionally been a board of director and/or vice-president of exploration for a number of publicly traded corporations.
Daniel Card – Technical Committee
Danial Card, P.Geo, RPGeo, an expert Geophysicist, holds a BSc. Hons diploma from the College of Manitoba and is presently registered in Canada and Australia. His profession began with Xstrata (now Glencore) the place he labored his means as much as challenge geophysicist at Raglan Mine in northern Quebec then went on to serve at Xstrata’s Western Australian operations Cosmos and Sinclair within the Leinstern-Wiluna nickel camp, the place he performed a key position within the discovery and definition of the 9 MT Odysseus nickel sulphide deposit.
Following his tenure at Xstrata, Card went on to work as senior geophysicist for Southern Geoscience Consultants in Perth, WA, the place he served because the employees electromagnetics specialist. He additionally served because the technical lead on many mineral exploration initiatives. Card continued as a senior technical marketing consultant to Abitibi Geophysics and an skilled peer reviewer for the journal “Exploration Geophysics”. He then based EarthEx, an organization specialised in geophysical prospecting, information interpretation, 3D modeling and goal definition,
Gary Lohman — Certified Individuals and Advisor
Gary Lohman is among the founding members of and presently serves because the chief working officer for each Royal Stewart Assets Corp and Thistle Assets. He additionally holds the place of vice-president at 9 Mile Metals. With 4 many years of administration expertise, Lohman brings a wealth of information in valuable and base steel exploration each inside and out of doors the mining business.
A graduate of the esteemed geology programme on the College of Toronto in 1981, Lohman’s proficiency spans varied geological, geochemical and geophysical exploration methods. He has utilized these expertise in quite a few geological contexts, together with volcanogenic huge sulphides (VMS), porphyry copper/molybdenum and iron oxide copper gold (IOCG) type deposits. His expansive expertise extends to conducting evaluations and analysis on bonanza grade and bulk tonnage gold-silver properties situated in Canada, Mexico, California, Ecuador and Chile.
Patrick Cruickshank – Advisor
Patrick Cruickshank brings over 20 years of expertise from the wealth administration sector working for Merrill Lynch, Legg Mason and Citigroup Capital Markets, the place he centered on creating and defending wealth whereas specializing in funding development corporations. Cruickshank was an NFLPA Advisor from 2000 to 2012, till transitioning into the non-public fairness sector. Since 2012, he has targeting buying, funding and rising corporations within the power and useful resource sector.
Cruickshank is the present Chief Govt Officer and Director of 9 Mile Metals (CSE:NINE). He additionally serves on quite a lot of non-public useful resource corporations and is a frequent speaker/interviewee on the useful resource sector funding area, in Australia, Chile, Canada and the USA.
Cruickshank is a former Canadian Olympic/U23 soccer participant, US NCAA Division 1 collegiate participant and coach. He obtained his MBA from the Schulich College of Enterprise at York College in 1989.
Heather Williamson – Director, VP Company Finance and Company Secretary
Heather Williamson is a seasoned finance and authorized skilled with over 20 years of expertise within the business. She has labored as a paralegal and in company finance for a number of public corporations, together with Boston Pizza Worldwide and Angiotech Prescribed drugs. Williamson’s experience in finance and the authorized business is demonstrated by her profitable completion of over $10 million in financing for a public firm, together with spearheading all facets of an preliminary public providing and profitable itemizing on the Canadian Securities Trade (CSE).
She is well-versed in finance closings, IPOs and compliance with securities and inventory alternate rules. Along with her intensive expertise, Williamson is presently working in the direction of her MBA at Royal Roads College. She presently serves because the director and vice-president of company finance for Lancaster Lithium, the place she leads the corporate’s company and securities compliance technique.
William “Invoice” Feyerabend – Advisor and Certified Particular person
William Feyerabend brings with him an unlimited wealth of expertise within the exploration and growth of Lithium initiatives throughout the American West, Mexico, and South America. He has authored technical experiences for declare blocks in Nevada’s lithium growth epi-center, together with the Clayton and Fish Lake Valleys. His experience in lithium exploration started in 2015, with a selected deal with Esmeralda County, NV and particularly Clayton Valley. Notably, Feyerabend set the invention properly for Pure Vitality.
Feyerabend has intensive expertise in producing lithium brine targets and serving as a Certified Particular person for lithium initiatives in Nevada, California, Utah, and Argentina. He has had roles with main corporations resembling US Borax and Gold Fields Mining and performed a component within the discovery and growth of 4 important mineral initiatives. His worldwide publicity is equally intensive, having labored on initiatives in Argentina, Bolivia, Chile, China, Colombia, Ghana, Guyana, Mexico, Peru, Saudi Arabia, United States, and Venezuela. This wealth of worldwide expertise will show invaluable as Lancaster Assets continues to develop and improve its operations.
Mohammad Asefi – Technical Committee
Mohammad Asefi obtained his B.Sc. and M.Sc. levels in antennas and microwave engineering from the American College of Sharjah, United Arab Emirates, in 2009 and 2011 respectively, and his PhD in electrical and laptop engineering in 2016 from the College of Manitoba, Winnipeg, MB, Canada. From 2016 to 2017 he was a postdoctoral fellow on the electromagnetic imaging laboratory on the College of Manitoba. He was the director of analysis at 151 Analysis Inc. between 2017 and 2020 with a deal with biomedical imaging, saved grain monitoring utilizing electromagnetic waves, and the event of electromagnetic imaging programs, and near-field measurements. He was the product growth supervisor (Superior Analysis) at Agco Winnipeg between 2020 and 2023 with a deal with the analysis and growth of electromagnetic imaging programs/methods for monitoring grain bins. He’s presently the CTO of EarthEx Geophysical Options the place he works on cutting-edge applied sciences for drone-based magnetic and electromagnetic information acquisition and evaluation programs.
