Pantera Minerals' Quarterly Activities Report Overview

Pantera Minerals Limited (ASX: $PFE) has reported its quarterly activities for the period ending 30 June 2024. The company continued to increase its landholding at the Pantera Lithium Brine Project in the Arkansas Smackover Formation, reaching a total of 25,998 acres. Pantera also engaged SLB to complete a subsurface 3D Static Geological Model and successfully raised approximately A$3.45 million through a two-tranche placement of shares.

Executive Commentary on Quarterly Activities

The June quarter was an important period for the Company as we continued to expand our landholding at our 100% owned Pantera Lithium Brine Project in the Smackover Formation of Arkansas, USA. With the current landholding now at just under 26,000 acres, we now move our focus to drilling and testing our brine grade and how our brine performs with various DLE technologies.

Summary of Quarterly Activities and Outlook

Pantera Minerals has made significant progress in expanding its landholding at the Pantera Lithium Brine Project, positioning itself for future drilling and testing activities. The engagement with SLB to complete a subsurface 3D Static Geological Model demonstrates the company's commitment to leveraging advanced technology for optimal well planning and resource estimation. The successful completion of a A$3.45 million oversubscribed placement provides the necessary funding for the company's upcoming activities. Pantera's next steps include the completion of the initial sub-surface study, re-entry of an identified well for testing, and continued growth of the Smackover Project through the acquisition of additional acreage. The company's strategic review of other projects and ongoing exploration planning indicate a focused approach to maximizing value for its shareholders.