Manhattan Corporation Limited (ASX: MHC) unveils strategic advances across its high-grade gold, lithium, and uranium projects, highlighted by a farm-in joint venture with Novo Resources and key management appointments.
- Farm-in JV agreement with Novo Resources on Tibooburra northern tenements
- Significant historic drill results at Hook Lake gold and VMS projects in Nunavut
- Discovery of spodumene-bearing pegmatites at L3 Lithium Project in Nova Scotia
- New appointments of Gavin Rezos and Eric Sondergaard to management team
- Ponton Uranium Project holds JORC-compliant inferred resource in Western Australia
Strategic Expansion in Tier 1 Jurisdictions
Manhattan Corporation Limited (ASX: MHC) has presented a comprehensive investor update in May 2025, showcasing its portfolio of advanced exploration projects spanning gold, lithium, copper, and uranium. The company’s footprint covers district-scale assets in Canada and Australia, positioning it well within globally recognized mining jurisdictions with supportive regulatory frameworks and infrastructure.
Central to Manhattan’s growth strategy is the recently executed farm-in and joint venture agreement with Novo Resources Corporation on the northern tenements of the Tibooburra Gold Project in New South Wales. This JV arrangement allows Novo to earn up to 70% interest by investing in exploration, while Manhattan retains 100% ownership of the southern licenses, maintaining exposure to a multi-million ounce gold district with promising structural analogies to prolific Victorian goldfields.
Hook Lake: Unlocking High-Grade Gold and VMS Potential
In Nunavut, Canada, Manhattan’s Hook Lake Project stands out with an estimated 3.4 million tonnes at 2.38 grams per tonne gold, including higher-grade zones. The project benefits from its location within the Rankin-Ennadai Greenstone Belt, a proven mineral endowment area with limited modern exploration since the 1990s. Historic drilling has returned impressive intercepts, such as 52.78 meters at 3.38 g/t gold, underscoring the deposit’s open-ended nature both along strike and at depth.
Additionally, the project hosts volcanogenic massive sulphide (VMS) polymetallic systems with significant copper, zinc, silver, and gold grades, offering diversified commodity exposure. Manhattan’s recent management additions, including Gavin Rezos and Eric Sondergaard, bring deep expertise in resource development and Nunavut operations, signaling a readiness to advance exploration and unlock value.
L3 Lithium Project: Emerging Lithium Supply in Nova Scotia
Manhattan’s L3 Lithium Project in Nova Scotia represents a strategic entry into the critical minerals sector, with over 500 square kilometers of tenure covering spodumene-bearing pegmatites. Surface sampling has yielded multiple assays exceeding 1% lithium oxide, with peak results above 3%, comparable to nearby Brazil Lake lithium deposits. The project benefits from excellent infrastructure, including proximity to deep-sea ports and power grids, facilitating potential future development.
The company is advancing geophysical surveys and targeting drill-ready prospects, aiming to delineate lithium resources that align with growing North American demand for battery minerals. This diversification complements Manhattan’s gold and base metals portfolio, enhancing its position in emerging supply chains.
Ponton Uranium Project: Exposure to Clean Energy Transition
In Western Australia, Manhattan holds the Ponton Uranium Project, which includes a JORC-compliant inferred resource at the Double 8 deposit. With increasing global focus on decarbonization and clean energy, uranium assets like Ponton could gain strategic importance. The company is pursuing ministerial approvals to recommence drilling and expand the resource base, potentially adding another dimension to its diversified mineral portfolio.
Outlook: Positioned for Discovery and Growth
Manhattan Corporation’s May 2025 investor presentation reflects a company actively consolidating high-quality assets in tier 1 mining jurisdictions, supported by a strengthened management team and strategic partnerships. The Novo farm-in deal accelerates exploration at Tibooburra, while Hook Lake’s underexplored gold and VMS systems offer near-term catalysts. Meanwhile, the L3 Lithium Project taps into critical mineral demand, and Ponton uranium provides optionality amid energy transition trends.
Investors will be watching closely as Manhattan advances drilling programs, integrates new data, and progresses toward resource definition across its portfolio.
Bottom Line?
Manhattan’s multi-commodity portfolio and strategic JV set the stage for significant exploration milestones ahead.
Questions in the middle?
- When will drilling commence under the Novo farm-in agreement and what are the expected timelines for results?
- How will the new management appointments influence exploration priorities and capital allocation?
- What are the next steps to convert the L3 Lithium Project’s spodumene discoveries into a defined resource?