MAN’s US based lithium project just got bigger

Our US-based lithium Investment Mandrake Resources (ASX: MAN) project just got bigger.

And today, MAN increased its total landholding from ~56,000 acres by ~12%.

MAN now holds ~62,745 acres of lithium ground in Utah, USA, the ‘lithium four corners’ Paradox Basin, and is actively staking more ground.

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 the company continue to stake additional ground which we hope will lead to a large maiden JORC lithium exploration target being announced.

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