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VANCOUVER - Lancaster Resources Inc. (CSE:LCR), a mining exploration company with a market capitalization of $68.92 million, announced Wednesday it has acquired a 100% interest in the Lac Iris Polymetallic Project in Quebec’s James Bay region through directly staked mineral claims approved by Quebec’s mining authority. The company’s stock is currently trading near its 52-week high of $36.98, having delivered a 7.53% return year-to-date. InvestingPro data shows the stock typically maintains low price volatility, making it an interesting watch for stability-focused investors.
The acquisition adds approximately 694 hectares across three packages located 4-5 km north and south of Power Nickel Inc.’s Nisk and Lion discoveries, and adjacent to Li-FT Power Ltd.’s Rupert Lithium Project.
According to the company’s press release, the project lies along the geological trend hosting the Whabouchi Lithium pegmatite deposit and the Nisk polymetallic nickel-copper sulphide deposit, positioned at the boundary between the La Grande and Opatica Subprovinces. With an overall Financial Health score rated as "GOOD" by InvestingPro, Lancaster appears well-positioned to pursue this strategic expansion. Subscribers can access 3 additional ProTips and comprehensive financial metrics to better evaluate the company’s growth potential.
"The properties significantly boost our exploration prospects in James Bay," said Andrew Watson, President and CEO of Lancaster Resources.
The company also disclosed that a map contained in its June 12, 2025 news release is no longer accurate, as certain claims were rejected by the provincial government due to a technical defect. Lancaster has since staked new claim blocks that have been approved by Quebec’s mining authority.
Lancaster noted that proximity to nearby mineral properties is not necessarily indicative of mineralization on the Lac Iris Property, and there is no certainty that exploration will result in similar discoveries.
The Lac Iris acquisition expands Lancaster’s portfolio, which includes the Lake Cargelligo Gold Project in New South Wales, Australia, and uranium projects in Saskatchewan’s Athabasca Basin. The company’s strategic acquisitions have contributed to its solid 6-month price return of 6.06%. For detailed analysis of Lancaster’s growth strategy and peer comparison, visit InvestingPro.
Andrew Watson, who serves as the company’s President, CEO and Director, reviewed and approved the technical information in the statement but is not independent of the company.
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