03:23 PM EDT, 08/14/2025 (MT Newswires) -- Lancaster Resources ( LANRF ) was slightly higher on Thursday after announcing the start of the desk and field work for its Lake Cargelligo Gold Project in New South Wales, Australia.

A statement noted this initiative marks the first step towards completion of its National Instrument 43-101 technical report, representing a "critical milestone in advancing the project".

Thursday's statement said the project is located in the "prolific" Lachlan Fold Belt, the 28,768-hectare Lake Cargelligo Project and contains "multiple historical high-grade gold and silver occurrences".

"Commencing field work at Lake Cargelligo represents a pivotal moment for Lancaster," said Andrew Watson, CEO and president: "Our maiden NI 43-101 Technical Report for Lake Cargelligo will be the foundation for systematic exploration, guiding our strategy toward resource definition and value creation for our shareholders."