Projects

Mandrake is a ASX listed explorer, focused on advancing its large-scale lithium project in the prolific ‘lithium four corners’ Paradox Basin in south-eastern Utah, USA.

The Company’s lithium venture spans a land area exceeding 93,755 acres (approximately 379 square kilometres) and is strategically located in a prolific oil and gas producing area, offering access to numerous wells that facilitate the production of lithium rich brines.

Mandrake has made significant progress in compiling geological, geochemical and petrophysical data which has culminated in the definition of an Inferred Resource (JORC 2012) estimate of 3.3Mt Lithium Carbonate Equivalent^* (LCE) and through a partnership with two independent Direct Lithium Extraction (DLE) providers, demonstrated the ability to extract the lithium from the brines.

Positioned within Utah’s pro-mining jurisdiction, the project benefits from a favourable regulatory environment that supports mining activities. The project has access to Tier 1 infrastructure, including power and water resources.

Furthermore, the project aligns with the proactive efforts of the US government and industry to promote domestic exploration and production of strategic and critical materials.

^* See Mandrake’s announcement dated 22 October 2024

• The Jimperding Project lies approximately 30km east of Chalice Gold Mines Limited’s (Chalice) Julimar Ni-Cu-PGE discovery in the Jimperding Metamorphic Belt located 70km NE of Perth
• Airborne electromagnetic survey (AEM) carried out by Mandrake identified numerous strong EM conductors across the project
• Surface rock chip results up to 0.36g/t Pd, 0.27g/t Pt, 0.5% Ni and 0.19% Cu returned from the Newleyine prospect

289km² exploration licence in the under-explored western limb of the Pine Creek Orogen, Northern Territory

180km south of Darwin

Limited drilling has identified gold mineralisation that remains open – best intersections include:

• 4m @ 6.6g/t from 32m
• 6m @ 3.8g/t from 18m
• 5m @ 2.6g/t from 30m