Monster in the making (from announcement 24th July 2023). Extensive regional continuity of Lithium brine reservoir gives scale ..
Figure 4 (below)
The historic Peterson 88-21 well is located proximal to this fault system and was drilled andsampled by Superior Oil Co. in 1959.
Peterson 88-21 returned lithium concentrations of 340mg/L from a clastic zone overlying Clastic Zone B in the Paradox Formation1. The Petersonwell is located only 200 m from Mandrake tenure and 6 km from the B-912 priority well (Figures2 and 4).Pursuant to the recently executed Well Access Agreement (WAA) with Paradox ResourcesLLC (Paradox), Mandrake will re-enter and sample the existing B-912 and Big Indian Unit 1(BIU-1) oil and gas wells at the Utah Lithium Project.
These wells have been selected on thebasis of:
1. Proximity to NW-SE trending fault structures
2. Total well depths of >9,000 feet, penetrating the highly prospective clastic units(Paradox) as well as the underlying Leadville and McCracken Formations (BIU-1 only)
3. Interpretation of logs indicates good porosity and permeability of target zones
4. Access (roads and pad)
5. Infrastructure (power and pipelines)
6. Down-hole well conditions (engineering)
(20min delay)