Lancaster Resources Inc (CSE:LCR, OTCQB:LANRF) announced that it has completed its acquisition of a 100% interest in the Lac Iris polymetallic project in Quebec’s James Bay region, following approval from the Québec mining authority, Ministère des Ressources naturelles et des Forêts (MRNF).
The Canadian exploration company noted that the Lac Iris property lies along the geological trend hosting the Whabouchi Lithium pegmatite deposit and the Nisk polymetallic nickel-copper sulphide deposit.
“The properties significantly boost our exploration prospects in James Bay,” Lancaster Resources CEO Andrew Watson said in a statement.
“This acquisition supports Lancaster’s push for precious metal discoveries, alongside our Lake Cargelligo acquisition, as we continue to build shareholder value.”
Lancaster Resources added that the acquisition adds about 694 hectares across three packages and complements Lancaster’s existing option on the Trans-Taiga Project in James Bay.