Pantera Minerals initiates key drilling operations

Pantera Minerals (ASX:PFE) has started drilling at its Smackover Lithium Brine Project in Arkansas. The company plans to re-enter a previously drilled well to test lithium and bromine concentrations in the formation. Completion is expected in ten days, with results due before the year's end.

Overview and outlook for Pantera's Smackover Project

Pantera Minerals (ASX:PFE) has commenced drilling at the Smackover Lithium Brine Project in Arkansas, focusing on re-entering a well to assess lithium and bromine levels. The project spans over 26,000 acres, making it the largest listed holder in the Smackover Formation outside major industry players. Pantera has completed a 3D geological model to guide future drilling and leasing. The project benefits from a 50,000-acre Exclusive Abstract Agreement, enhancing mineral lease acquisitions. Situated alongside industry giants like Exxon and Albemarle, Pantera aims to establish a strong foothold in the lithium brine market. Results from the current testing phase are expected by year-end, aligning with the company's strategic growth plans in the lithium sector.

Executive insights on Pantera's strategic moves

The Smackover Formation offers a unique opportunity for the extraction of lithium and bromine. Our strategic acreage position and advanced geological modeling provide us with a significant advantage as we begin our testing phase. We are excited to be positioned among industry leaders in this burgeoning market.