Pantera Minerals (ASX:PFE) completes 3D Static Geological Model for Smackover Lithium Brine Project

Pantera Minerals Limited (ASX:PFE) has announced the completion of the 3D Static Geological Model, delivered by SLB, detailing the subsurface geology and reservoir characteristics of the Smackover Lithium Brine Project. The model, covering a land position of +26,000 net leased acres in the Smackover Formation Arkansas, confirms the project's potential to host a large and world-class lithium brine resource.

Executive Chairman's Commentary on 3D Static Geological Model

Executive Chairman Barnaby Egerton-Warburton stated that 'the 3D sub surface model provides Pantera with the required data to take the Company from a leasing focus to a development and resource definition focus. The location of the upcoming re-entry well allows for a closed loop pilot plant operation with both supply and disposal well on site utilising the geological model to identify specific production zones in the upper-Smackover formation. Pantera's land team has also noted the increased leasing competition outside its exclusive abstract area to the west and north further demonstrating the validity of the Smackover as a legitimate lithium brine play.'

Summary of 3D Static Geological Model Results

The 3D Static Geological Model, covering a large area and utilizing data from 38 wells, 2D seismic, and gravity stations, estimates the Upper Smackover Formation thickness, porosity, and location of faults. The model confirms the potential for a large lithium brine resource, with plans for resource estimation once lithium brine geochemistry and permeability data is obtained from well re-entry. Pantera's forward focus includes re-entry of the first well for lithium brine grade testing, DLE test of re-entry well samples, and continued project growth through the acquisition of additional acreage. The Company is also in discussions with DLE technology providers for a pilot plant test on site in early 2025. The release is authorized by the Board of Directors of Pantera Minerals Limited, and the Competent Person's Statement confirms the reliability of the geological and exploration data used in the model.