Mineral explorer Mandrake Resources (ASX:MAN) has secured 181km-square of 3D seismic data covering much of its Utah Lithium Project in the US.
The $23.35 million market capitalisation company says the 3D seismic data has enabled it to map the known lithium brine-hosting stratigraphic units across a broad swathe of the Utah Lithium Project, confirming lateral continuity and thickness.
Mandrake is expecting the 3D dataset to support the determination of a lithium JORC Mineral Resource Estimate (MRE) following forthcoming sampling activities.
The 3D seismic survey was shot in 2008 and 2012 and was merged and reprocessed in 2022.
Local oil, gas, and helium producer and oilfield owner Paradox Resources provided 2 3D seismic datasets to Mandrake for nil consideration.
Both companies have executed a Well Access Agreement (WAA) covering 84 Paradox oil and gas wells, which have the potential to be accessed by Mandrake for the purpose of sampling for lithium-rich brine.
Mandrake has completed the work programs for the first workovers at the B-912 well and Big Indian Unit well and is in the process of well re-entry permitting and final selection of preferred contractors.
The company adds the 2D data has been able to be calibrated against the host of petrophysical logs available across the Utah Lithium Project from historical oil and gas wells.
The Utah Lithium Project is located in the Paradox Basin, US, which hosts hypersaline brine historically documented to contain ‘significant’ concentrations of lithium, boron, potassium salts, and other elements.
Mandrake Resources is an ASX-listed exploration company focused on advancing its ‘large-scale’ lithium project in the prolific ‘lithium 4 corners’ Paradox Basin in south-eastern Utah, US. The company’s lithium venture spans a land area of over 88,000 acres.
On 31 March 2023, the company had $18.3 million cash at hand, according to its latest quarterly report published on 27 April 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Mandrake Resources Ltd
