Skip to content
Finance Investment, Oil Mining Resources

Pantera Minerals Limited (ASX:PFE) – 26% Increase In New Acres Leased Within Superbird Project

Pantera Minerals Limited (ASX:PFE) 2 mins read

Pantera Minerals Limited (ASX: PFE), a pioneering force in the sustainable extraction of lithium, is thrilled to announce a significant expansion of its Smackover Brine Project. With the addition of 3,553 acres, marking a 26% increase in its leased acreage, Pantera's total net leased acreage now exceeds 17,000 acres. This expansion is a critical step towards reaching the 20,000-acre milestone necessary for initiating the unitization process, underscoring the project's rapid growth and Pantera's commitment to sustainable lithium production.

The bulk of the new acreage comes from a key lease with a mineral owner covering 2,194 acres, placing Pantera in a unique position of strength. This expansion not only enhances the project's scalability but also consolidates Pantera's control, with 100% ownership of the project now under its purview. As the only listed junior company in the Arkansas Smackover Lithium Brine play, Pantera stands adjacent and on trend from Exxon Mobil’s Direct Lithium Extraction (DLE)-style Lithium Brine project, highlighting its strategic positioning in the region.

Lithium brine extraction, recognized for its lower environmental impact compared to traditional hardrock mining, aligns with Pantera's mission for a more sustainable lithium production method. Arkansas, known for its strategic location in the heart of the United States, offers an ideal setting for the development of brine projects. The state's rich history in oil and gas production, coupled with exceptional logistics, a skilled labor force, and supportive government policies, provides a fertile ground for Pantera's project development.

The project's vicinity to Exxon Mobil's operations and the recent drilling activities to the east further validate the region's potential for lithium brine extraction. With multiple re-entry wells identified within the project footprint, Pantera has commenced negotiations with various well owners, setting the stage for a well re-entry and sampling program slated to begin in Q2 2024.

Looking ahead, Pantera is focused on significant project growth through additional acreage acquisitions and the re-entry of a well within the project area to test brine grade, permeability, and porosity. The company is also planning to conduct a DLE test of the re-entry well sample by two highly regarded DLE technology providers, alongside acquiring existing 2D Seismic, magnetic, and gravity data for subsurface modeling. This comprehensive approach aims to pinpoint drilling locations for the first resource definition wells, propelling Pantera towards becoming a leader in sustainable lithium production.


Contact details:

Jane Morgan


More from this category

  • Finance Investment
  • 24/04/2024
  • 20:37
Hut 8 Corp.

Media Advisory: Hut 8 to Release Q1 2024 Results May 15

Q2 2024 results expected to be released on August 13, 2024MIAMI, April 24, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, will review first quarter results via a conference call on Wednesday May 15, 2024.Who:Analysts, media, and investors are invited to attend.What:Hut 8 executives will comment on recent corporate developments and review the Company’s financial results for the first quarter of 2024.When:Results will be shared via media release and on the Company’s website at on…

  • Finance Investment, Oil Mining Resources
  • 24/04/2024
  • 14:48
Zenith Minerals Limited (ASX:ZNC)

Zenith Minerals Limited (ASX:ZNC) Reports Strong Progress and Strategic Developments in Q1 2024

PERTH, WA, April 24, 2024 — Zenith Minerals Limited (ASX:ZNC) is pleased to announce its activities and achievements for the first quarter ending March 31, 2024, emphasising significant strides in its lithium and gold projects, alongside strategic corporate developments. Strategic Review and Investor Engagement in Lithium Sector Zenith has engaged Azure Capital to assist in a strategic review of its lithium operations, exploring potential partnerships and investments. Despite a downturn in lithium prices, which have fallen by 85% over the past year, Zenith continues to attract interest from potential strategic and financial investors, underscoring the long-term positive outlook for lithium…

  • Contains:
  • Business Company News, Oil Mining Resources
  • 24/04/2024
  • 12:02

CIMIC increases ownership of Thiess to 60%

CIMIC Group has entered into an agreement with funds advised by Elliott Advisors (UK) Ltd (Elliott) regarding the acquisition by CIMIC of an additional…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.