Mandrake Resources Issues Notice of Intent for New Well at Utah Lithium Project

MT Newswires Live

2025/03/20

Mandrake Resources (ASX:MAN) reported that a notice of intent was issued for a new well, 'MAN A' at its Utah lithium project, according to a Wednesday Australian bourse filing.

Granting of the permit is subject to the payment of a $165,000 bond for the well, the filing noted.

It also began a further application to the Bureau of Land Management to permit a new well located adjacent to a off-property well which contained historic lithium concentrations of 340 milligrams per liter.

Its field operations are on hold to preserve capital given continuing weakness in the lithium sector, the filing said.

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