MAN's US based lithium project area is now 50% bigger

Our US-based lithium Investment Mandrake Resources (ASX: MAN) just increased its total landholding some ~50% to ~76,850 acres (~311km2).

MAN’s project is in Utah, USA, the ‘lithium four corners’ Paradox Basin, and the company is actively staking more ground so it could get bigger yet.

For context, when MAN first announced the project to the market back in February, the company had ~56,000 acres of ground; since then MAN has increased the project area by ~50%.

The significance of today’s news is that a bigger landholding could translate into a larger lithium exploration target which MAN expects to have published in Q2-2023.

What’s next for MAN?

We want to see MAN increase the size of its project by staking additional ground.

In turn, we hope that this leads to a large maiden JORC lithium exploration target being announced.

After this, it will be all about MAN progressing the work needed (e.g. sampling existing wells and potentially drilling a new well) to convert that exploration target into a maiden JORC resource estimate.