Mandrake secures further leases at its Utah lithium project
ASX-listed Mandrake Resources has secured three School and Institutional Trust Lands Administration (Sitla) leases, totalling 1 320 acres, within the central zone of its 100%-owned Utah lithium project, in the US.
Mandrake, which is developing a large-scale lithium project in the Paradox basin, in Utah, in the US, says the project's total net acreage has increased to 77 740 acres.
To consolidate and rationalise the Sitla lease component of its Utah lithium project, Mandrake has added central high-brine-volume leases while relinquishing existing marginal leases, enabling the company to obtain higher brine volumes on an acre-for-acre basis, while also reducing administration and lease holding costs.
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