Mandrake Resources Confirms High Lithium Potential at Utah Project

Mandrake Resources Limited (ASX: MAN) announced that at the time of writing, new analysis of the Paradox Formation at its 100%-owned Utah Lithium Project has confirmed significant potential for high-grade brine resources. Sampling within Zones A and B returned lithium concentrations up to 340 mg/L, with additional tests in 2024 recording 147 mg/L.

Petrophysical data from 22 wells across the 93,755-acre project area identified an average net pay thickness of 59m, indicating strong brine-hosting capacity. The findings position the project alongside world-class lithium brine districts such as the Smackover Formation in the US and South America’s Lithium Triangle. Mandrake holds an inferred resource of 3.3Mt lithium carbonate equivalent and maintains a strong balance sheet with AU$13.3 million cash and no debt as of 30 June 2025. Ongoing brine flow modelling will guide new drilling and further exploration plans.

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