Mandrake Resources Progresses Utah Lithium Project Amid Strong Brine Results

Mandrake Resources Limited (ASX: MAN) reported significant progress at its Utah Lithium Project, confirming its position as a top-tier U.S. lithium brine asset with an Inferred Resource of 3.3 million tonnes Lithium Carbonate Equivalent (LCE). Brine sampling in the Paradox Formation’s Zones A and B returned lithium grades up to 340 mg/L, supported by an average 59m net pay thickness across 22 wells.

A Brine Flow Model Study, due in October 2025, is expected to refine high-priority drill targets. The company ended the quarter with AU$12.1 million in cash and no debt, maintaining a strong financial position. Mandrake is also reviewing new project opportunities in the U.S. and abroad, aiming to expand its critical minerals portfolio while advancing low-cost workstreams and permitting activities at Utah.

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